Country / Language

Bankruptcy and Restructuring


Chad Shandler

CPA, Partner, CohnReznick Advisory Group - Restructuring, and Litigation Advisory National Director

Clifford Zucker

CPA, Partner, Restructuring and Litigation Advisory

Kevin Clancy

Partner,  Restructuring, and Litigation Advisory

Howard Konicov

CPA, CIRA, Partner, Restructuring and Litigation Advisory

Bernard Katz

Retired Partner, Consultant, Restructuring and Litigation Advisory

Troubled-business situations require the right blend of responsiveness, technical skill, and industry expertise.  Drawing from a dedicated, highly credentialed, multi-disciplinary team of restructuring, forensic, turnaround, and valuation professionals, CohnReznick has the resources to act quickly to assess a situation and recommend a course of action in out of court restructurings and formal bankruptcy proceedings. 

Having advised on company and creditor sides, we bring both perspectives to each engagement.  This enhances our ability to develop creative restructuring scenarios designed to help clients stabilize operations, preserve asset value, and rebuild stakeholder support.

Financially distressed companies rely on CohnReznick’s leadership and guidance in complex and challenging times.  Our professionals understand management’s first job is to run the business.  Our role is to assist in severe cash flow situations or other crises by recommending and/or implementing an informal workout or turnaround plan.  Our services are broad and flexible in scope and may include cost reduction initiatives, creditor negotiations, and identification of new sources of capital.  We often simultaneously provide leadership in business process change and operational improvement, addressing a multitude of issues quickly, thereby building creditor confidence.

When a change in strategic direction, debt restructuring, or other rehabilitation will not maximize corporate value, we collaborate with clients’ management and advisors in the reorganization process with pre-bankruptcy planning.

Creditors, unsecured creditor committees, and lenders engage CohnReznick to determine the causes of troubled business situations and to ascertain alternative restructuring options.  Clients rely on us to analyze a company’s near-term liquidity, EBITDA, cash flow forecasts, and underlying collateral; assess business plans and management’s ability; monitor company’s activities; and provide valuations.  We act decisively to maximize value for our constituency.

CohnReznick has served parties in interest in a fiduciary capacity as trustee, receiver, plan administrator, examiner, disbursing agent, or as its financial advisor, to numerous secured and unsecured creditors, banks, and other financial institutions.


Restructuring Services Highlights

  • Accounting and operational controls evaluation
  • Determine feasibility of future profitability
  • Assess management’s turnaround capabilities
  • Integrated financial modeling
  • Cash flow projections
  • Cash flow blockage exposure
  • Cost reduction initiatives
  • Operational restructuring
  • Liquidity management and improvement
  • Long-term viability assessment
  • Plans of Reorganization development
  • Identify new sources of capital
  • Replacement and DIP financing arrangement
  • Existing debt structuring and renegotiation
  • Loan covenant waivers negotiation
  • Asset divestiture assistance
  • Exit strategy formulation
  • Strategic buyer or financial investor identification
  • Pre-bankruptcy planning

Bankruptcy & Reorganization Service Highlights

  • Economic and statistical analysis
  • Financial performance modeling
  • Business planning and forecasting
  • Short-term cash flow needs determination
  • DIP facilities arrangement
  • Creditor, vendor, and stakeholder negotiations
  • Liquidation analysis
  • Transactional structuring and negotiations
  • Covenants compliance monitoring
  • Professional malpractice consulting
  • Expert witness testimony
  • Forensic and litigation consulting

Financial Recovery Services

  • Claims analysis
  • Debtors’ Solvency Studies
  • Equitable Subordination of Claims
  • Debtors’ Reorganization evaluation
  • Fraudulent Conveyance investigation
  • Tracing cash and other assets



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Working With Us

Working With Us

What makes CohnReznick different from others in our profession? And what should our clients come to expect when working with us? The answer is The CohnReznick Advantage. Contact us to learn how we can out the CohnReznick Advantage to work for your business.


The value of an organization is determined by the skills and qualities of its leaders. With more than 280 partners serving clients nationwide, CohnReznick is renowned for the diverse experiences, knowledge and backgrounds of its leadership.

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We align our services in three segments: Accounting and Assurance, Tax, and Advisory. This approach allows us to provide holistic solutions to complex business problems and to seize upon opportunities requiring an integrated approach.

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Accounting and tax issues different significantly based on an organization's industry. We provide clients with expertise in nearly two dozen industries – we know the opportunities, the obstacles, the competitive landscape.

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CohnReznick professionals are thought leaders in their industries. Clients benefit from relevant and timely economic, legislative and industry insights that can keep them a step ahead of competition.

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Global Reach

Our involvement in the Nexia International network of firms enables us assist our clients wherever they do business-providing local expertise and connections wherever they needed. Nexia is comprised of 20,000 professionals operating in over 100 countries.

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