West Publishing Releases Book, Strategic Alternatives for Distressed Businesses, by Jonathan Friedland, Head of the Restructuring & Insolvency Service Group

FOR IMMEDIATE RELEASE

For more information, contact:
Jason Milch
milchj@jaffeassociates.com
312-846-9647

CHICAGO - The financial markets are in turmoil and the economy is in real trouble. Recent events have shown that no business is immune. Crisis can also create opportunity, however, for those who are prepared and informed. Whatever your reason, now may be a good time to get better informed about the alternatives available to a financially troubled business.

Levenfeld Pearlstein is pleased to announce that six of its attorneys contributed to the recently released book, Strategic Alternatives for Distressed Businessess. Jonathan Friedland, head of the firm's Restructuring and Insolvency Service Group, is the principal author and editor-in-chief. Chapter contributors include LP attorneys Thomas Jaros, William Schwartz, James Martignon, Kimberly Lehtman, and Jon Nuckles , as well as attorneys and other professionals from other leading professional services firms, including AlixPartners and Deloitte . The groundbreaking book brings together in one volume, the various options that are available to distressed businesses in lieu of bankruptcy.

"While Chapter 11 is optimal for some businesses, many situations call for a different approach," Mr. Friedland says. " Sale transactions, in particular, are often best executed without a bankruptcy filing, utilizing processes available under state law. A pragmatic problem, though, is that the law varies a great deal among the 50 states. While there are a rich number of resources a lawyer can readily compare the advantages and disadvantages between filing a bankruptcy in one venue as compared to another, the same is not true when comparing a non-bankruptcy alternative in one state against one in another state. Among other things, I hope this book gives practitioners a comprehensive tool to assist with this task."

Mr. Friedland's second book, Commercial Bankruptcy Litigation, will be released by West in 2009. Mr. Friedland is also currently co-teaching an MBA class at the University of Chicago , "Failure- Grave to Cradle Corporate Restructuring," with James H.M. Sprayregen, a Managing Director at Goldman Sachs. Mr. Friedland lectures extensively and has authored or co-authored nearly 100 articles on restructuring topics. Mr. Friedland focuses his practice on representing private equity funds in their acquisitions of stressed and distressed businesses and in representing debtors and creditor committees in restructurings. He has led chapter 11 debtor and committee representations involving companies with revenues ranging from $5 million to $1 billion.