Box 1: Typical Covenants Tripped by Downturns.

1 The Stages of Decline and Early Warning Signs.

Box 2: The Effects of Financial Shenanigans.

2 The Turnaround Tripod.

3 Leadership in a Crisis.

Box 3: Governance and Leadership Issues in Family-Owned Businesses.

4 Cash Not GAAP.

5 Downsizing Is a Tool, Not a Goal.

Box 4: Other Legal Issues in Announcing Layoffs.

6 The Bankruptcy Process as Sword and Shield.

Box 5: State Laws.

Box 6: DIP Financing.

Box 7: Committee Formation.

Box 8: Plan Confirmation.

7 Managing International Turnarounds.

8 Turnarounds at (Intentionally) Nonprofit Organizations.

Box 9: Chapter 9 Bankruptcy.

9 Turning Duds into Dreams.

Box 10: Additional Issues in Valuing Distressed Companies.

Box 11: Fiduciary Duties of Directors in M&A Transactions.

10 A Different Fresh Start.

Notes.

Acknowledgments.

About the Author.

Index.