DailyDAC
Tuesday, January 18, 2022
FOMO? Take a peek behind the curtain.

Once each year, DailyDAC™ sends its Distressed Deal Data™ Newsletter out for free so potential subscribers can take a look at the sort of intelligence it includes. We did this last week but in case you missed it, you can see it again here. Take a look at what you're missing.

A reminder that the choice of law provision is not boilerplate to be used over and over again, especially in the context of distressed debt trading.

Under Delaware law, a distinction is drawn between contractual provisions that bar the right to assign contracts compared to the power to assign contracts. This was the subject of Russell Silberglied’s and Sarah Silviera’s article, Claims Trading of Notes of a Debtor Might Become More Difficult After Woodbridge. A recent decision out of the Southern District of New York, Partner Reinsurance Company Ltd. v. RPM Mortgage, Inc. (July 1, 2021), appears to present an important opportunity to build the right choice of law provision into your claims trading documentation.

From $700 million+ to $11.2 million: Lessons from the Penthouse Magazine Bankruptcy

Learn a little about creative destruction, “sin” investing, priorities in bankruptcy, and Axl Rose in an article that also manages to mention Isaac Asimov, Alan Dershowitz, Stephen King, Philip Roth, and Gore Vidal. Read "From Penthouse to Ground Floor: The Penthouse Magazine Bankruptcy."

What can DailyDAC do for you?
  1. Are you an auctioneer with experience selling financially distressed companies? If yes, and you are not yet listed in DailyDAC’s Auctioneer Directory, submit your listing (for free) today by emailing info@financialpoise.com. There is no charge; it is a free service.
  2. Do you buy distressed companies or their assets, or excess/obsolete assets? Check out Distressed Deal Data ("DDD") and its sister deal-finding tool, DailyDAC’s Opportunistic Deal Database ("ODD"). Look at our public notices (always free) here.
  3. Want to be alerted quickly to every new chapter 11 petition filing, for free? Check out DailyDAC’s Chapter 11 Bankruptcy Alert System. There is no charge; it is a free service.
  4. Looking to demonstrate your thought leadership for an audience of more than 10,000 fund and family office professionals, trusted advisors such as attorneys who do not focus on bankruptcy or corporate restructuring, and business owners, executives, and board members searching for answers about business bankruptcy and its alternatives? Learn how to write for DailyDAC. Never pay-to-play.
  5. Looking for an assignee? DailyDAC hosts the only comprehensive directory of assignees for the benefit of creditors in the world. Not just names, the Directory tells readers what states each assignee has experience in and how many ABCs each assignee has run. If you are an experienced assignee, get added by reading this. There is no charge; it is a free service.
  6. Are you selling a distressed company or assets of a distressed company? Are you otherwise charged with selling on an expedited basis? DailyDAC offers two services, one free and one that we charge for:
    1. Submit your listing for free and DailyDAC may list it in its ODD and DDD. We make our money from this by charging our subscribers (and we limit the number of our subscribers). More information.
    2. Place a public notice ad with DailyDAC. The bottom line is that DailyDAC employs the latest technology to make sure your public notice ad is seen by interested and qualified potential buyers. More information.
  7. Education. Associations for experts in the field are great - for experts in the field. But for the business owner, board director, or executive whose business in trouble, or the potential investor in or buyer of such a business, or creditors of such businesses, as well as lawyers and other trusted advisors who are not experts in the business bankruptcy/insolvency/restructuring area, DailyDAC is the place to go for plain English education:
    1. Lost in the weeds and looking for the big picture? Look at DailyDAC’s interactive Insolvency Decision Tree.
    2. Want to read about the world of business bankruptcy/insolvency/restructuring starting from a place that assumes you know nothing about it? Read the series, Dealing with Corporate Distress, starting with Installment #1, Hello Darkness, Our Dear Friend (note the homage to Disturbed and Simon & Garfunkel - which version do you like better?)
    3. Read every article on our website if you have nothing better to do, in reverse chronological order (and if that is the case, email us and we will gladly speak with you so you don't have to be so lonely).
    4. Buy a webinar. Try one of our One Hour Deep Dives or, if you prefer experimental theater more, try one of our Special Webinar Events. All our webinars are delivered in plain English with some humor and never involve speakers who paid us to speak (just as our articles are never authored by authors who pay to do that). You’d think that we wouldn’t need to say this but if you bother to look, you’d be shocked at how many platforms’ revenue depend on the "pay-to-play" model.
  8. Looking for a qualified professional? Our Editorial Board Members and Contributors are among the best in the world.
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