Upon successful completion of this course, participants will be able to: Identify the reasons why a deliberate turnaround effort is needed. Recall the components of the cash conversion cycle. Specify the reasons why a lender might grant a loan forbearance. Identify the options for accelerating cash flows into a business. Recall how a mechanic's lien works. Specify how a surety arrangement works. Identify the circumstances under which a lender can seize the property of a borrower. Recall the conditions for creating a security interest in a borrower's personal property. Specify the priority of claims in a credit arrangement. Recall the requirements of the Worker Adjustment and Retraining Notification Act. Recognize the legal underpinnings of creditor actions to seize debtor assets. Specify how a lien is used and what happens when an asset is sold that has a lien attached to it. Specify the best point in time at which to file for bankruptcy protection. Identify the debt adjustments usually made as the result of a workout arrangement. State the circumstances under which an involuntary bankruptcy petition can be filed. Describe the group represented by a creditors' committee. Specify the contents of a bankruptcy plan. Specify the various ways in which a court can oversee the activities of a debtor under bankruptcy protection. Recognize the priorities for the payment of administrative expenses.

The Basic Stages of a Turnaround Turnaround Actions Security Interests and Collection Options Turnaround Legal Considerations The Bankruptcy Option The Bankruptcy Process Bankruptcy Rules