| Chapter 11 Business Reorganizations: For Business Leaders, Accountants And Lawyers |
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Product Details
A Great Reference Source For Business Leaders and Their Professionals Each year billions of dollars of business credit and contracts are restructured under Chapter 11 of the United States Bankruptcy Code. In the process, substantial fortunes are reallocated. Debtors in Chapter 11 reorganizations range from some of the largest business entities in the world to small local businesses. When these companies file for protection from creditors under Chapter 11, new problems and opportunities are created. Mr. Alderman draws upon over twenty years of experience counseling clients to explain the key legal theories and offer practical and tactical advice to business leaders, stakeholders and their advisors. "This book should be a part of the libraries of management, practitioners and accountants. It is comprehensive." The Halyard Restructuring Group, LLC. "This well organized and comprehensive book will be a great asset for anyone on either side of a Business Bankruptcy." William Wright, President & Publisher, Park Ave Publishers Inc. "This book is a great reference source with a wealth of insightful information - No accounting firm's library will be complete without a copy." James E. Schultz, CPA, Sheptoff, Reuber & Co.
Product Reviews
 (1 stars) - Worthless
Literally half of this book (90 pages) is excerpts from the Code, all of which is available for free (and searchable) at the Cornell website. The rest of the book is elementary, and the information contained in the 80 pages of content in this large print volume can easily be obtained from the United States Bankruptcy website. Do NOT buy this book.
(1 stars) - This Book Is Not Worth Your Money
I bought and read this book entire book, except for everything after p. 95, which is a cut-and-paste of the U.S. Bankruptcy Code. Though Alderman's section is short (93 pages), I wanted a quick overview of the Chapter 11 process, and was willing to pay $35.95 for it. I also wanted an accurate overview, but Alderman doesn't provide that. Simple concepts and facts are completely bungled. Others, amazingly, are just plain wrong. I don't think it's nitpicking to note that Alderman says on p. 12 that a business must be insolvent to be eligible to be a debtor under Chapter 11. He then cites to a case where the judges said exactly the opposite: "It is well established that a debtor need not be insolvent before filing for bankruptcy protection."
$35.95 for simple concepts that are completely wrong just isn't worth it.
 (5 stars) - Just What I Needed
I needed to get a quick handle on chapter 11 business reorganizations. Several people recommended this book. For what I needed, this book was perfect. The "practical & tactical advice" boxes and the glossary of key terms made it easy for me to get a quick grasp of the information I was looking for.
I highly recommend this book to people looking for an introduction to chapter 11 bankruptcy.
 (4 stars) - General overview
The book provides you a general overview of terminology and typical bankruptcy rules. I would recommend anyone who is about to go through a chapter 11 reorg, and has never experienced one, to read this.
After reading this you may want to but a code book to do more learning. The only negative I found is it speaks in black and white terms. If the company, creditors (particularly the senior secured) and current board agree to something the judge can allow most anything. I didn't get that from the book. I'm learning that as my company goes through the process.
 (2 stars) - Be Sure You Know What This Is
I purchased this book expecting some detailed "how-to" about filing and conducting a Chapter 11 case. That's not what this book is. It's a broad overview of the Chapter 11 process written primarily for layman. Although the book is 184 pages, most of that length is glossary and reprints of bankruptcy code sections. The actual text is about 80 pages, with big type and lots of blank space. I'm not a particularly fast reader, but I knocked the whole thing out in a little over an hour. I would characterize this book as a Continuing Education presentation, revamped to book format.
That said, it's a very good Continuing Education presentation. It's well-written and there are a half-dozen or so good nuggets of information and advice. If I had sat in on this presentation at a Bar conference, I'd have been thrilled. After having paid $45 for the book, not so much.
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