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De Facto Chapter 11 for the Unconsolidated 'Identity of Interest' Enterprise (Case Study)

By Joshua J. Angel
January 30, 2012

The experienced bankruptcy professional is sometimes faced with the dilemma of a business client with financial issues ideally solvable in Chapter 11, but for the certainty that a lethal combination of the proceeding's cost and deleterious operational effect will surely result in forced liquidation rather than restructure. Such was the dilemma faced by Herrick, Feinstein LLP when it was consulted by the economically troubled Glazier Group, Inc. (“GGI”) in June 2010.

GGI in Distress

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