第三十一章财务困境.pptxVIP

Executive SummaryThis chapter discusses financial distress, private workouts, and bankruptcy.A firm that defaults on a required payment may be forced to liquidate its assets. More often, a defaulting firm will reorganize.Financial restructuring involves replacing old financial claims with new ones and takes place with private workouts or legal bankruptcy.Chapter Outline31.1 What is Financial Distress?31.2 What Happens in Financial Distress?31.3 Bankruptcy Liquidation and Reorganization31.4 Private Workout or Bankruptcy: Which is Best?31.5 Prepackaged Bankruptcy31.6 Summary and Conclusions31.1