Expert Insights on Bankruptcy Accounting
Bankruptcy is the state in which an entity is unable to pay its creditors, forcing a legal process to resolve payment of debts. There are six types of bankruptcy, with Chapters 7, 11, and 13 the most common. Chapter 7 bankruptcy is the basic liquidation of an individual's or entity's assets. Chapter 11 bankruptcy is the reorganization primarily of business debtors. Chapter 13 bankruptcy entails the rehabilitation and payment plan for individuals.
Gerson Lehrman Group Council Members are available to discuss Bankruptcy Accounting via phone consultations, live meetings, surveys, and other custom GLG products and services.
Find, engage, and manageSM experts today through the GLG platform
Featured Council Members
GLG Council Members are leading experts including academics, scientists, and industry specialists
-
Grant Newton, CPA
Executive DirectorASSOCIATION OF INSOLVENCY RESTRUCTING
-
Gary Schneider
CEOJehle Energy Group, LLC
-
Edward Weinstein, CPA
PrincipalEdward A. Weinstein, CPA
-
Mark Berman
PartnerNIXON PEABODY LLP
-
Charles Irsch
Principal10point2 Consulting
Study Groups
Study groups are populations of experts knowledgeable on specific sub-topics within a broader industry
| Study Group Name | No. Members |
|---|---|
| Bankruptcy Accounting Specialists (US) | 58 |
| Bankruptcy Tax Specialists | 11 |
| IFRS Accounting Specialists | 1366 |
| Academic Pension Accounting Specialists | 17 |
| Inventory Accounting Academic Specialists | 20 |
Recent Live Meetings
Interactive roundtables, private visits, and small scale seminars are types of GLG Live Meetings
-
September 23, 2009 | Boston
Seminar: Accounting for Stock Options (Boston) -
September 24, 2009 | Chicago
Seminar: Accounting for Stock Options (Chicago) -
October 29, 2009 | San Francisco
Seminar: Oil and Gas Accounting (Boston) -
October 30, 2009 | San Francisco
Seminar: Oil and Gas Accounting (Chicago) -
August 25, 2009 | New York
Seminar: Merger & Acquisition Accounting (New York)
Recent News Analyses
News analyses are expert commentaries on current events, written by Council Members who are available for follow up consultations
-
Fairpoint – Bankruptcy is Now an Option
October 5, 2009
P.J. Louis, President, PJ Louis LLC
FairPoint In Talks to Revamp Its Debt | online.wsj.com
I am an engineer and I am a restructuring expert. My firm focuses on operational matters, and I am the first to say that you should always make voluntary restructuring changes before you file for Chapter 11. I hate seeing companies file as much as anyone else. However, there are times when you have...
-
Bankruptcy Often Requires Renegotiation
September 14, 2009
Avaya wins Nortel enterprise unit - The Globe and Mail | www.theglobeandmail.com
The fuss between Verizon and Avaya that is presented as an issue of national security is very possibly a move designed to influence the renegotiation of contracts between these two companies.
-
Fairpoint – Heading for Bankruptcy? It Can Be Fixed
September 29, 2009
P.J. Louis, President, PJ Louis LLC
FairPoint In Talks to Revamp Its Debt | online.wsj.com
Some time ago I had written a piece concerning continued bankruptcies in the CLEC and ILEC sides of the business. The piece was not well received.
-
Working Capital - Internal Audit and Control - Accounting Standards
October 30, 2009
Nitish Grover, FCA, AICPA Intl Associate, Principal, Owner, Nitish Grover and Associates
A Crash Course in Working Capital | www.cfo.com
The referred Article speaks of the importance of working capital, internal audit and proper financial statement and how these interact to provide a proper business growth environment. In my analysis below I give my thoughts on these aspects.
-
Offshoring - Changing Accounting Dynamics - Auditing and Control
October 8, 2009
Nitish Grover, FCA, AICPA Intl Associate, Principal, Owner, Nitish Grover and Associates
The New Calculus of Offshoring | www.cfo.com
Increased overseas costs, security dynamics and the sudden availability of newly jobless employees has changed the offshoring dynamics. Offshoring continues but the repetitive tasks with high risk and control difficulties are getting out of the offshoring matrix. In this analysis I look at theeffects...