October 20th, 2008
Ed Creel J.D.
For more than 40 years, Ed Creel has been at the forefront of insolvency law. A graduate of George Washington University, he went on to receive his J.D. degree from SMU. A founder and partner of Creel, Sussman and Moore, Ed has represented debtors and other parties in bankruptcy cases of $500 thousand to more than $3 billion.
Creel was the co-founder and former chairman of the American Bankruptcy Institute and a co-founder and former president of the American College of Bankruptcy. He has chaired bankruptcy and insolvency committees of the Dallas Bar Association and the State Bar of Texas and the Federal Bar Association. Creel has been named to The Best Lawyers in America, and for the last five years has been distinguished in Texas Monthly’s list of Super Lawyers.
Ed and his wife Nan are also owners of the Triple N Ranch, a breeder of champion longhorn steers and hosts of Denim and Diamond charity events to support their local library. Ed currently resides at the Ranch in Trinidad, Texas.
Ingredients for a
How can you, an independent consultant, add value in a turnaround, bankruptcy, or workout situation ?
First Countrywide, then Bear Stearns, Merrill Lynch, Lehman Brothers, Fanny Mae, Freddie Mac, then the unthinkable- AIG, venerable financial powerhouses, all crumbling or gone. What institution or industry is next? How can you help your clients or significant prospects turn around a critical situation?
How do independent consultants leverage their skills and talents to help their current clients and seek out new clients during these unprecedented conditions? The signs of trouble in a business are usually numerous, including the normal culprits: ineffective senior management style, over-diversification, undercapitalization, lack of operating controls, no financial checks and balances, to name just a few of the many root causes. Corporate managers and their consultants who recognize and acknowledge the early signs of trouble are much more likely to be successful in staging a business recovery.
Although a consultant need not be a certified turnaround specialist, these assignments are clearly not for the faint of heart. You would be working in a whirlwind of conflict; dealing with angry creditors, wary customers, anxious employees and nervous boards. But the rewards, both financial and challenge-related, can be substantial.
Ed Creel is a noted bankruptcy attorney, who has led many companies out of bankruptcy or prevented financial turmoil through a process framework known as a "workout”. He will share with the members of IMCDFW this highly successful process. He will show you a process by which a financially troubled business negotiates financial accommodations with its creditors and changes the business operations in order to achieve sustainable profitability.
In this interactive session, Ed will provide an insider’s perspective on:
How troubled companies utilize independent consultants
How company management finds and engages the consultant
Pricing in these situations
Ensuring the company can afford a consultant and ensuring payment for services
Actual case histories
We are now meeting at the Doubletree Hotel - 4099 Valley View Lane, Dallas (North I-635 frontage road west of Midway).
register on-line today - CLICK HERE
"Get smart, get known, and get business!"
Meet Drumm McNaughton Ph.D., IMC USA's National Chairman. He will personally present Ken Goldstein's award as a Fellow of IMC USA (posthumously) to the Goldstein family during
Network, enjoy the informal interchange with professional colleagues, and come prepared to challenge the speaker with your probing questions.