Minamar >> Chapter 11 Financing and reorganization

RELIEF FOR PRINCIPALS AND SHAREHOLDERS

Are you a CEO or a principal in a publicly traded company that is saddled with too much debt? Perhaps when you started your business you never as most of us have not considered the downside of business cycles. If you are in such a situation where your creditors are hounding, you and the toxic financiers are demolishing your life's work and eroding your shareholder values please speak to us 1st.

We offer a unique chapter 11 reorganization type financing which is secured by your company preferred shares. We take no common shares and do not devour your company as a toxic financier.

Our program allows you to restructure your company to emerge healthy without the need for further finance and allows you to shed all the old baggage and the vultures which are circling over you.

Get a fresh start !

The following is a brief definition and real world examples of how you could benefit from a chapter 11 fresh start. Our services are limited only to publicly traded companies

Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's business affairs, debts, and assets. Named after the U.S. bankruptcy code 11, Companies generally file for Chapter 11 if they require time to restructure their debts and affairs. This version of bankruptcy gives the Company a fresh start. The terms are subject to the debtor's fulfillment of his obligations under the plan of reorganization.

Chapter 11 bankruptcy is the most complex of all bankruptcy cases. It is also usually the most expensive form of a bankruptcy proceeding. For these reasons, a company must consider Chapter 11 reorganization only after careful analysis and exploration of all other possible alternatives.

Real World Example

In January 2019, Gymboree Group Inc, a popular children's clothing store, announced that it had filed for Chapter 11, and was closing all of its Gymboree, Gymboree Outlet and Crazy 8 stores in Canada and the United States. According a press release by Gymboree, the company stated it received a commitment for a debtor in possession in the form of financing ($30 million in new money loans) provided by SSIG and Goldman Sachs Specialty Lending Holdings, Inc. and a "roll up" of all of Gymboree's obligations under the "prepetition Term Loan Credit Agreement." The company stated that if the court approved of this financing plan, the funds would support the company during the Chapter 11 process. CEO Shaz Kahng stated that the company is "continuing to pursue a going-concern sale of its Janie and Jack® business and a sale of the intellectual property and online platform for Gymboree®." This is the second time in two years that the Gymboree Group Inc. has filed for bankruptcy. The first time occurred in 2017, but at that time, the company was able to successfully reorganize and significantly lower its debts.

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