CFO

[Michael Barbarita]

The CFO needs to have answers for all situations. For very troubled companies, sometimes there are more options than filing for bankruptcy. After all you may be very surprised how expensive filing bankruptcy really is. It costs a lot of money to go broke!

An option for some companies is called a private foreclosure sale. It is when you can prearrange an investor to buy only the assets of a troubled company from a seller who is a secured creditor of the troubled company. The end result is a brand new company with all of the assets of the troubled company and none of the liabilities. I have actually worked on one of these.

Michael Barbarita
Next Step CFO


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