In the following article, SmithAmundsen bankruptcy attorneys Patrick Jones and William Hackney suggest that in some distressed situations, it might be time for lenders to take a different tack. Rather than engaging in a fight, a lender might consider “riding the horse in the direction it’s headed” to his or her advantage.
The next few months may be challenging ones for American retailers. The Consumer Confidence Index, measured by the Conference Board, plummeted for the third time in four months in September, dropping to 48.5 — the lowest rate since February 2010. The uncertain economy does not bode well for the upcoming 12 months either. BDO Capital Advisors’ Jeffrey Manning and Cooley LLP’s Jay Indyke team up to offer some steps retailers can take to avoid liquidation.