BUSINESS OPTIONS >
An informal restructuring or workout will generally be available to companies with small or less complex situations or where there is one large creditor to be dealt with.
In cases where the level and complexity of a company’s debt is not great, an informal proposal or workout may be an affordable alternative to a Division I proposal. This option is often a reasonable method of settling the debts of a guarantor, where the principal borrower has filed an assignment in bankruptcy, the guaranteed debts are few in number, and the likelihood of the unsecured creditors in the bankruptcy to receive a dividend is low. For more information, please contact one of the professionals at Crowe MacKay & Company.