Tag Archive: Liquidation


You should

Mediators are often turned to only during the late stages of a case (i.e. the courthouse steps before trial, when the deal is falling apart), or after negotiations have failed.  But there is great value in getting a mediator involved in the early stages of litigation and transactional matters.  The bankruptcy world is blessed (or burdened!) with both types of matters.  Mediators can assist with focused negotiation sessions, case management and overall case or deal pre-planning.

Here are a few more ideas on how a mediator can help your case or deal run smoothly, sooner rather than later:

  • Plan for and collection of discovery, due diligence and informal exchange of information
  • Negotiation of memorandum of understanding in transactional matters (i.e. M&A, 363 sales, distressed entity deals)
  • Identification of other professionals, including experts (i.e. valuation experts, appraisers, crisis communication/PR firms) and neutrals that will be useful to the deal or future litigation
  • Discussion of procedural needs
  • Drafting boilerplate language for agreements (i.e. asset sale, closing documents, settlement agreements, cash collateral documents)
  • Identifying key disputed issues and witnesses, or stakeholders
  • Assessing strengths and weakness of a deal and case, or the parties interests and positions regarding same
  • Pre-bankruptcy planning
  • Resolving plan and disclosure statement disputes
  • Resolving feasibility or budgeting disputes
  • Management of dissolutions, wind downs and “going-out-of-business sales” (liquidations)
  • Negotiations between the debtor-in-possession (DIP) and secured creditors prior to filing and at the inception of a case
  • Negotiation of key employee retention plans (KERPs) and other compensation issues
  • Identifying (an agreeable) “stalking horse bidder”
  • Preparing for an auction process

So, start thinking outside of the box.  The returns could be invaluable.

Want more information? Go to, http://www.thelegalfreeagent.com.

Post based on ideas expressed in:

Lande, John, Lawyering with Planned Early Negotiation: How You Can Get Good Results for Clients and Make Money, ABA (2011).

Actually, for me, it was a Suzy Q.  You see, I had a “friend” that I frequently shared lunch with in elementary school.  She bought the school lunch and I packed my lunch (except Thursdays–pizza day!).  My parents filled our lunches with healthy, nutritious foods.  But, occasionally, we received a treat in our lunches as well.  When my mom brought home that Suzy Q, I lost it.  Oh, the decadence.

Well, by “lost it,” I don’t mean that I jumped for joy, or sang my mom’s praises.  I sat down on the steps leading from our kitchen to our family room and burst into tears.  I just couldn’t bare to share my delectable treat.  So, I spilled all the beans.  Finally, my mom understood why I was so hungry after school.  Half of my lunch had been someone else’s midday nourishment.  That stopped the very next day.  MY Suzy Q gave me the power to take back all of my lunch!

Similar to my tale, the current news on the Hostess Brands, Inc. financial demise, mediation and imminent liquidation has sparked up nostalgia.  Across the country (and likely the world), people are remembering their favorite Hostess treats, with several reclaiming them in hoards at local stores last week.  Suzy Qs are even being sold on eBay!  I haven’t had a Hostess treat in years, but I remember the taste well.

It’s been said that Twinkies have a shelf life of 20 years or more–a common urban legend, I suppose.  Our Twinkies survived the days of being tossed in paper sacks or metal lunch boxes with the likes of ET, Care Bears, GI Joe or Barbie gracing the outside.  They were kept in our paper lunch sacks or boxes, with a collection of other lunches, in our classrooms or classroom coat rooms.  There was no refrigeration for our lunches or cold packs to keep them at the right temperature until the school bells signaled the start of the lunch hour.  Indeed, the closest thing we had to a cold pack was a thermos that frequently allowed us to carry warm soup to school for lunch, or better yet, “lukecold” milk.

So, if our Twinkies could survive all of that, I am certain they will survive this.

What was your favorite Hostess treat?

A) Twinkies

B) Ding Dongs

C) Crumb Cakes

D) Ho-Hos

E) Other

Be sure to follow current events on the Hostess Brands, Inc. bankruptcy under the Roll Call tab.

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