Leading a Business Out of Bankruptcy
Bankruptcy protection is a tool, not an ending. What determines the outcome is the financial leadership guiding the process.
Bankruptcy Is a Legal Process. The Accounting and Finance Work That Supports It Is Just as Consequential.
Whether a business is entering Chapter 11 restructuring, navigating an assignment for the benefit of creditors, or working through an out-of-court restructuring, the accounting and finance function carries enormous responsibility. The court, the creditors, the trustee, and the restructuring professionals all need accurate, timely financial information — and the stakes of getting it wrong are high.
We work alongside restructuring counsel and turnaround advisors to provide the accounting and finance infrastructure that a distressed business needs. We move quickly, we work in difficult environments, and we understand what the various stakeholders in a restructuring process need from the financial function at each stage.
This is not the environment for a generalist. It requires accounting and finance professionals who have been through it before and know what to do — and what not to do — when the situation is at its most difficult.
Where We Focus
The Accounting and Finance Work That a Restructuring Demands.
Cash Management & DIP Reporting
In a Chapter 11, cash is the most important and most scrutinized resource. Debtor-in-possession reporting requirements are exacting — weekly cash flow reports, variance analysis, and compliance with DIP covenants. We build and manage the cash reporting infrastructure that keeps the company in compliance and gives management and the court an accurate, real-time picture of liquidity.
Schedules & Statement of Financial Affairs
The schedules of assets and liabilities and the Statement of Financial Affairs are foundational legal documents in a bankruptcy filing — and they have to be accurate and complete. We support the preparation of these documents, working with counsel to ensure the financial information is correctly organized, supported by the books, and filed on time.
Monthly Operating Reports
Chapter 11 debtors are required to file monthly operating reports with the court — a standardized financial reporting package that covers cash receipts and disbursements, income statement, balance sheet, and supporting schedules. These reports have strict deadlines and format requirements. We produce them accurately and on time, every month, for the duration of the case.
Creditor Reporting & Communications
Creditors — both secured and unsecured — have information rights in a bankruptcy proceeding, and the creditor committee will scrutinize the company's financial reporting carefully. We ensure the financial information provided to creditors and their advisors is accurate, well-organized, and presented in a way that supports the company's reorganization objectives.
Plan Feasibility & Projections
A reorganization plan has to demonstrate that the business is feasible — that it can generate sufficient cash flow to service its reorganized debt and operate as a going concern. We build the financial projections and supporting analysis that underpin the plan of reorganization, working with counsel and management to ensure the projections are credible and supportable.
Post-Confirmation Finance Infrastructure
A confirmed plan of reorganization is the beginning, not the end. The business emerging from bankruptcy needs an accounting and finance function that can support a fresh start — clean books, appropriate systems, and the reporting infrastructure to satisfy any post-confirmation obligations. We build what the reorganized business needs to move forward.
Time Is Critical
We Deploy Quickly Into Distressed Situations.
Bankruptcy proceedings move on court timelines that don't wait for the accounting and finance function to get organized. We mobilize fast, assess what's in place, and build what's needed — on the timeline the process requires.
Work With Us
Tell Us About the Situation.
Tell us where the company is in the process, who the restructuring counsel is, and what the accounting and finance function looks like right now. We'll respond the same day.
Schedule a Discovery Call
How can we help? No pitch, no pressure — just a real conversation.