Chapter 11 Bankruptcy Option

From Silverman Consulting’s point of view, many firms in financial distress resort to bankruptcy when deferral or avoidance may be far more productive for all concerned. Filing for protection under Chapter 11 bankruptcy laws is always an option, but one that we believe should be considered carefully and exercised judiciously. Often, avoidance or deferral through turnaround tactics can actually facilitate the recovery effort.

Silverman Consulting is experienced in guiding turnaround efforts in or out of a court supervised environment. Our approach, in fact, is the same in both cases – a reflection of the fact that the fundamental problems causing a company’s distress are not usually the result of the courts.

When reorganization is appropriate, Silverman Consulting views bankruptcy as a means to an end, not an end in itself. A successful reorganization is one in which the turnaround efforts do not take a back seat to legal proceedings. The skillful implementation of a turnaround plan which reverses operating losses and creates credible projections for lenders and creditors can provide the entire basis of the Chapter 11 alternative.

Silverman Consulting has helped guide numerous clients through the Chapter 11 process. We understand that speed, good communication and attention to the concerns of all interested parties, as well as the technical requirements of the bankruptcy process, are critical components of a successful reorganization. Our experience enables us to focus on managing the bankruptcy process while, at the same time, keeping our clients focused on the turnaround plan and managing their business.