Bankruptcy & Insolvency Explained | Myths, Legal Protections & Restructuring Options

Domenico Magisano, Commercial Litigation Partner at Lerners LLP, discusses generally what happens when a company is insolvent and how restructuring tools can be used to help companies emerge from insolvency stronger. Topics: Is there a difference between Bankruptcy and Insolvency? The media often speaks of Bankruptcy Protection, what does that mean? What is the equivalent to Chapter 11 in Canada? What happens if the creditors do not accept the proposal or plan of arrangement? What is a receiver? How is a receiver appointed? What is the difference between a court appointed and a privately appointed receiver? Are there other restructuring tools available to creditors and debtors? For more information on this or any other bankruptcy or insolvency related questions, please contact Domenico at [email protected] 0:00 Introduction 0:06 BANKRUPTCY & INSOLVENCY It's Not As Bad As You Think 0:25 Is There A Difference Between Bankruptcy And Insolvency? 1:05 The Media Often Speaks Of Bankruptcy Protection, What Does This Mean? 1:37 What Is The Equivalent To Chapter 11 In Canada? 2:38 What Happens If The Creditors Do Not Accept The Proposal Or Plan Of Arrangement? 3:24 What Is A Receiver? 3:51 How Is A Receiver Appointed? 4:28 What Is The Difference Between A Court Appointed And A Privately Appointed Receiver? 5:33 Are There Other Restructuring Tools Available To Creditors and Debtors?