The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A....
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Transcript of The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A....
![Page 1: The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation.](https://reader035.fdocuments.us/reader035/viewer/2022072010/56649dda5503460f94ad0087/html5/thumbnails/1.jpg)
The Troubled Company
Nightmare on “E” StreetMichael B. Cahill
City National Bank
Robert A. GreenfieldStutman, Treister & Glatt Professional Corporation
John A. O’MalleyFulbright & Jaworski L.L.P.
Gregg A. MatsonMcAndrews, Allen & Matson
![Page 2: The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation.](https://reader035.fdocuments.us/reader035/viewer/2022072010/56649dda5503460f94ad0087/html5/thumbnails/2.jpg)
• Just reached break even cash flow.
• Investors not prepared to put in new money.
• Proprietary products subject to license agreement.
• Wonderful domain name, registered trademark.
“ChipShot.com” is in trouble
• Public Company.
• Delinquent on payroll.
![Page 3: The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation.](https://reader035.fdocuments.us/reader035/viewer/2022072010/56649dda5503460f94ad0087/html5/thumbnails/3.jpg)
Pre-Petition Issues
• Departing employees non-compete/confidentiality.• Security Interests.• Board and management defecting.• Patent and Trademark Infringement Claims.
• Vendors worried. Some have filed lawsuits.
![Page 4: The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation.](https://reader035.fdocuments.us/reader035/viewer/2022072010/56649dda5503460f94ad0087/html5/thumbnails/4.jpg)
Pre-Petition Issues
• Potential buyers circling vulture capitalists as liquidators.
• Fiduciary Duties to be considered.
• D&O Liability/ENRON issues.
• Receivables based financing available?
• Assignment for benefit of creditors v. Chapter 11.
![Page 5: The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation.](https://reader035.fdocuments.us/reader035/viewer/2022072010/56649dda5503460f94ad0087/html5/thumbnails/5.jpg)
Post-Petition Issues
• Maximizing Net Value.
• Debtor-in-possession (“DIP”) financing and other “First Day” issues.
• Product availability.
• Operating in Bankruptcy.
• Rights of exclusive licensor.
• Potential plan structure.
![Page 6: The Troubled Company Nightmare on “E” Street Michael B. Cahill City National Bank Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation.](https://reader035.fdocuments.us/reader035/viewer/2022072010/56649dda5503460f94ad0087/html5/thumbnails/6.jpg)