Daniel Sklar is a nationally known insolvency and distressed debt professional who has been actively involved in some of the largest Chapter 11 cases filed in the United States. Dan has also been responsible for documenting some of the biggest loans made in northern New England.
What do you focus on?
Approximately one-half of my practice focuses on distressed debt restructuring and asset sales or liquidations. Most of that time is spent dealing with formal Chapter 11s in courts around the country. I also do a fair amount of informal (outside of Chapter 11) debt restructurings and going concern sales of distressed businesses.
In addition, about one-third of my time is spent on documenting various types of loans for both the lenders and the borrowers. I represent about a dozen different banks and lenders who generally use me when the loan has unique provisions and/or collateral.
The balance of my time is occupied with general corporate governance and transactional work. I am regular counsel to about 25 middle-market companies and I am responsible for handling or supervising their ordinary course business issues.
What do you see on the horizon?
Both creditors and debtors are looking for viable and cost-effective alternatives to formal bankruptcy petitions. I have been developing and testing several optional approaches to Chapter 11 in order to meet this growing demand from lenders and distressed companies.