A CRO-Type Advisory Role for Family Businesses in Financial Stress

By: Donald L Swanson When large businesses are in financial trouble, their banks commonly require them to hire a CRO (a Chief Restructuring Officer) as a condition for extending loans. The CRO can do a variety of things. But one of the essentials is an advisory role: --Evaluate the financial troubles and recommend a course of... Continue Reading →

Congress Needs to Help Family Businesses in Financial Stress — Not Punish Them!

By: Donald L. Swanson We live and work in a market economy, here in these United States. The market is our economic judge: it validates—or invalidates—business decisions, and it picks winners and losers. The market is an efficient, impartial and unbiased judge. But it is also cruel and unforgiving. The result is that many businesses succeed.... Continue Reading →

The Problem of Pass-Through Tax Liability from Liquidation of a Family Business — A Chapter 11 Solution?

By: Donald L. Swanson Hypothetical: A family business has been successful for many years. But obsolescence of its products and services is taking a toll: the business is now insolvent, its assets are fully encumbered, no one is interested in buying the business as a going concern, and family shareholders have guaranteed most of its debts.... Continue Reading →

Newly-Proposed Bankruptcy Legislation (“Small Business Reorganization Act”) Needs To Be Enacted ASAP

By: Donald L. Swanson New bankruptcy legislation to help small businesses and entrepreneurs, titled the “Small Business Reorganization Act (SBRA),” is wending its way through the U.S. Senate. This piece of legislation is long over-due and should be enacted with all due haste. Here are some reasons why. Mom & Pop Businesses Have the Same Bankruptcy... Continue Reading →

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