Article 9 sales

Since the Bankruptcy Code was changed in 2005, filing Chapter 11 is no longer the panacea it once was.  OEM restructuring professionals have turned to other legal forms, which can accomplish the same result with a little more risk, but at a much lower cost than bankruptcy.  We have been particularly successful at selling businesses utilizing Article 9 of the Universal Commercial Code.  Whenever there is a secured lender with liens on all of the assets, this form of sale is possible.