Making Communication Integral to the Bankruptcy Strategy
Debt 3 › Vol. 20 Nbr. 6, November 2005
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Summary
In today's highly-charged media environment, it almost goes without saying that bankruptcy filings make headlines, regardless of whether the debtor is a large public company, a small private business, a national icon or a local not-for-profit. As the legal, operational and financial strategies associated with the bankruptcy process are put in place, communications must be an integral component. The first step in the process is to be prepared. From the days in advance of the filing to confirmation of the reorganization plan, anticipate that the case will make news. When you are in a position to announce news first, do it as soon as possible. As soon as you are able to release information, contact the media. At the same time, it is important to be prepared to react quickly in the event other interested parties go to the media with a story of their own.
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Extract
Making Communication Integral to the Bankruptcy Strategy
In todays highly-charged media environment, it almost goes without saying that bankruptcy filings make headlines, regardless of whether the debtor is a large public company, a small private business, a national icon or a local not-for-profit. And media coverage-and the public and political scrutiny it invites-can influence, for better or worse, the course of the case. It can even affect the very future of the organization. As the...
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