Questions that Keep CFOs Up at Night

Financial Distress Q&A for Officers and Directors

About the Questions That Keep CFOs Up at Night Series

Dealing with the prospect of financial distress is obviously unsettling.  People can potentially lose everything they have worked for their entire lives.  Risks abound, with cash crises, creditor pressures, employee defections, and so forth.  In addition, professionals and others have their hands out for fees (going broke ain’t cheap) and companies should be rightly concerned about “agendas” that may differ dramatically from those of the company, its owners and its management.

If your company’s financial distress or the prospect thereof is keeping you up at night, you’ve come to the right place. We are releasing a series of articles over the next few months to give straightforward answers to questions company directors and officers have – or should be asking.

If you have a question that we don’t address, please let us know by emailing us at info@gordiangroup.com. And be sure to sign up below for our newsletter so that you don’t miss the next in our series.

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We have established this blog as a platform through which company Directors and Officers can get straightforward answers to questions they have – or should be asking.

Are You The Canary in a Coal Mine at Your Company? Denial Ain’t Just a River in Egypt

How do I get others around me to understand we have a BIG problem? Denial is a very common reaction to financial distress. And the messenger is sometimes shot, or at least treated like Chicken Little. The first order of business should be to identify the timing and extent of near-term crises.

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Bankruptcy Protection. What Happens if we File? Preparation is key.

What happens if we go into bankruptcy? In this CFO series post we cover five things to keep in mind if you file for bankruptcy protection along with some basic elements of the bankruptcy process.

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Cash Shortage and the Leaking Corporate Ship Will it result in corporate demise or clearer sailing?

Cash Shortage and the Leaking Corporate Ship. Will it result in corporate demise or clearer sailing? In this CFO Series post we provide some thoughts for companies facing a cash shortage and how it can potentially be dealt with.

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distressed business

Distressed Business. Is it Worth it to Stay? Should an Officer or Board Member Leave?

What’s in it for me? Am I better off quitting?In this CFO series post we focus on the officer, director or an employee at a distressed business who is wondering whether to leave the company or not.

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Dealing with a Financially Distressed Business? Picking the Right Distressed Advisory Team

How do I evaluate different financial and legal advisors? In this CFO series post we focus on key issues and potential solutions when dealing with a financially distressed business.

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The Distressed Company and the Corporate Officer Disparate Advice – Sorting It All Out and Stopping the Angst

I am being advised to do inconsistent things by different professionals and Board members. How do I sort this out? In this CFO series post we focus on the helping key leaders and decisions makers at a financially distressed company set priorities and goals.

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My Company Is In Real Trouble Now What Do I Do?

My company is in financial trouble. Where do I go to get advice? In this CFO series post we provide some key questions the CEO and Board members need to ask once they admit “my company is is real trouble” 

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Signs of Financial Distress in a Company Doc, How Bad Is It?

Dealing with the prospect of financial distress is obviously unsettling. People can potentially lose everything they have worked for their entire lives. Risks abound, with cash crises, creditor pressures, employee defections, and so forth. In addition, professionals and others have their hands out for fees (going broke ain’t cheap) and companies should be rightly concerned about “agendas” that may differ dramatically from those of the company, its owners and its management.

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I Don’t Have Much of an Economic Stake. Why Not Just Give the Company to Creditors?

Why do I care what happens in the financial restructuring? Why not just give the company to creditors? One constant across a sea of distressed restructurings is that the various constituencies of a company will have differing views as to values and related parameters. After all, each is myopically focused on its own recoveries. Left to their own devices, these groups may squabble as long as they can.

My Board is ultra-nervous about getting sued. And all of us are getting different advice from different people.

Every situation is different, and needs its own legal scrutiny. And we are not attorneys. But we will tell you that Board members will be inundated with many lawyers and well-wishers telling them that they need to sue for peace with the creditors in order to get releases. Many of these directors, particularly those who have never been through the distressed experience, will be rightly concerned.

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