Services
What we prepare
Six deliverables cover most of what a Subchapter V or Chapter 11 case asks of the debtor's finance function. For each one: what you receive, what we need from the debtor, and when it is due in the case.
13-week cash flow forecast
- Used for
- First-day and cash collateral motions, DIP budgets, weekly variance reporting
- When
- Petition week, then weekly
- You receive
- Weekly receipts and disbursements by category, thirteen weeks forward, with opening and ending cash tied to the bank
- Assumption sheet the reviewer can check: collection curve from the aging, payroll calendar, rent and tax dates, professional fees
- Actual-versus-forecast variance each week with a one-line explanation per material variance
- We need
- Bank statements, A/R and A/P agings, payroll register, lease and debt schedules, the current budget if one exists.
Monthly operating report
- Used for
- Reporting under §308 and Rule 2015(a)(6) on Form 425C, or UST Form 11-MOR outside the small business track
- When
- Every month of the case
- You receive
- Completed Form 425C or UST Form 11-MOR with every exhibit the form calls for: receipts, disbursements, unpaid post-petition bills, receivables, professional fees
- Bank reconciliation for each account, so cash on hand on the report ties to the statements
- Projected-versus-actual comparison carried forward month to month, as the form requires
- We need
- Bank statements, general ledger or QuickBooks access, prior month’s report, the case’s reporting orders.
- Note
- Local rules and the U.S. Trustee’s regional guidelines set the due date and supplemental documents. We calendar the earlier of the two.
Cash collateral and DIP budgets
- Used for
- Motions and orders under §363 and §364, lender consent, budget compliance reporting
- When
- First weeks, then per order
- You receive
- Budget in the line-item format the lender and the order require, with the permitted variance stated
- Compliance certificate or variance report on the schedule the order sets
- Reconciliation of the budget to the 13-week forecast and the monthly operating report, so the three documents tell one story
- We need
- Proposed or entered cash collateral or DIP order, lender’s reporting requirements, the 13-week forecast.
Plan projections and feasibility
- Used for
- Confirmation under §1129(a)(11) and §1191, disposable income under §1191(d), the best-interests test under §1129(a)(7)
- When
- Plan filing and confirmation
- You receive
- Projected income statement, balance sheet, and cash flow for the plan term, monthly in year one and quarterly after, with plan payments as their own line
- Written assumptions tied to the debtor’s filed operating reports and pre-petition history
- Liquidation analysis and, for a nonconsensual Subchapter V plan, the disposable income calculation
- Sensitivity cases showing the plan still funds under a stated downside
- We need
- Plan term sheet or draft plan, claims register, the operating reports filed to date, tax and lease information.
Lender, trustee, and committee reporting
- Used for
- Periodic reporting required by orders, Subchapter V trustee monitoring, committee information requests
- When
- As ordered
- You receive
- Reporting package on the cadence the order or the trustee sets, built from the same ledger as the monthly operating report
- Responses to information requests with the source document referenced
- We need
- The orders and requests themselves, plus the books.
Retention paperwork
- Used for
- Application under §327 or §328, disclosure under Rule 2014, engagement letter, proposed order
- When
- At engagement
- You receive
- Declaration of disinterestedness and connections under Rule 2014, engagement letter with scope and compensation terms, proposed order, all in a form counsel can file
- Fee application support under §330 and §331 for the life of the engagement
- We need
- Creditor matrix and list of parties in interest for the connections check.
Scope and structure
Scope is set in writing before work begins, by deliverable. The engagement is either a retention under §327 on counsel's application, or work in the ordinary course within the approved budget where the case allows. Counsel decides which; we prepare the paperwork for either. One person does the work from the first call through the last report.