Home

Quick Links

Legal

navigation
Home > Services > Consulting > Outsourced Finance & Accounting > Restructuring Services > We advise and support the bankruptcy process

We advise and support the bankruptcy process

We advise and support the bankruptcy process


In a Chapter 11 bankruptcy, Armanino can act as a member of the management team, typically the interim CFO, to prepare the reorganization plan, help manage the business as “debtors-in-possession” (DIP) and then help execute that plan once it’s been approved. We may also be retained to assist in an asset sale or divestiture as part of the reorganization.

In a Chapter 7 bankruptcy, the company liquidates under a court-appointed trustee who takes control of the process of liquidating and winding down the company. We may be engaged by the company prior to filing as part of or in lieu of the management team and board to implement certain liquidation steps prior to bankruptcy, help file the bankruptcy petition, and prepare for the transition to the trustee. After filing we may also be retained by the trustee to perform some aspects of the liquidation and wind down.