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The Troubled Company

Nightmare on “E” Street. The Troubled Company. Michael B. Cahill City National Bank. Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation. John A. O’Malley Fulbright & Jaworski L.L.P. Gregg A. Matson McAndrews, Allen & Matson. “ChipShot.com” is in trouble.

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The Troubled Company

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  1. Nightmare on “E” Street The Troubled Company Michael B. Cahill City National Bank Robert A. Greenfield Stutman, Treister & Glatt Professional Corporation John A. O’Malley Fulbright & Jaworski L.L.P. Gregg A. Matson McAndrews, Allen & Matson

  2. “ChipShot.com” is in trouble • Public Company. • Just reached break even cash flow. • Investors not prepared to put in new money. • Delinquent on payroll. • Proprietary products subject to license agreement. • Wonderful domain name, registered trademark.

  3. Pre-Petition Issues • Vendors worried. Some have filed lawsuits. • Departing employees non-compete/confidentiality. • Security Interests. • Board and management defecting. • Patent and TrademarkInfringement Claims.

  4. Pre-Petition Issues • Potential buyers circling vulture capitalists as liquidators. • Fiduciary Duties to be considered. • D&O Liability/ENRON issues. • Receivables based financing available? • Assignment for benefit of creditors v. Chapter 11.

  5. Debtor-in-possession (“DIP”) financing and other “First Day” issues. Post-Petition Issues • Maximizing Net Value. • Product availability. • Operating in Bankruptcy. • Rights of exclusive licensor. • Potential plan structure.

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