Interview: Factors that Contribute to Success in Ch. 11 Bankruptcy

MDM spoke with Howard Levine, partner at Sussman Shank LLC in Portland, OR, and attorney for Western Tool Supply in its reorganization through Ch. 11 bankruptcy. He spoke about the process and what factors make success more probable.

MDM: Provide an overview of what it means when a company files for Ch. 11 bankruptcy protection.

Howard Levine: The bankruptcy code is simply a tool that’s available to companies in financial distress that empowers the company with certain provisions of the law to change agreements that it has with its creditors. In its simplest form that is what bankruptcy is. What Ch. 11 does to a large extent is changes the leverage between the debtor and its creditors.

In Ch. 11 the idea is that the creditor and debtor are supposed to get together and figure out a business solution to their problems. In my view, it’s a shared problem.


To continue reading this article you must be a paid subscriber.

Subscribe to MDM

Already Subscribed? Click here to log-in | Forgot your password?

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.