BUSINESS BANKRUPTCY

SIMPLIFIED OPERATING GUIDELINES

A "HOW TO" MANUAL

FOR NON-BANKRUPTCY PROFESSIONALS

Robert S. Apfelberg, Karrie L. Bercik, Esq.

Table of Contents

Chapter 1. Introduction

Chapter 2. Pre-Filing Considerations

A. The Automatic Stay and Guarantors
B. Operating Capital
C. Attorney and Professional Fees
D. Public Disclosure and Notification
E. Employee Issues

Chapter 3.  Operating During the Administrative Period

A. Ordinary Course of Business
B. The Unsecured Creditors Committee
C. Bank Accounts
D. Insider Payments
E. Insurance and Utilities

Chapter 4. Reporting and Disclosure  Requirements

A. The Office of the United States Trustee
B. Interim Statements
C. The Initial Debtor Interview
D. The 341(a) Hearing
E. 2004 Examinations
F. Other Informational  Disclosures

Chapter 5. Debtor-In-Possession Fidiciary Duties

Chapter 6. Bankruptcy Rules and Crimes

Chapter 7. Attorney-Client Relationship

Chapter 8. Appointment of a Trustee in Bankruptcy

Chapter 9. Plan of Reorganization

Chapter 10. Tax Implications

A. Cancellation of Debt
B. Asset Transfers
C. Net Operating Losses and OtherConsiderations