Michael L. Gesas
Arnstein & Lehr Chicago Partner Michael L. Gesas was quoted in the August 2 weekly issue of The Deal’s Bankruptcy Insider titled “Taking the wheel: Secured lenders can control debtors’ sales efforts in several ways.” The article discusses the common occurrence in Chapter 11 bankruptcies where secured lenders and creditors spearhead sales for debtors in one form or another. Mr. Gesas, who is quoted throughout the article, comments that the process of a lender controlling a sale is normally generated when a debtor is not presenting a feasible plan of reorganization or a debtor is not presenting an acceptable sale process to give a lender comfort that they’re protected.
To read the article in full, click here.