As debtors and their professionals administer the challenges of reaching out to public-securities holders, their action plan should include the following steps to steer clear of potential obstacles.

Conduct Research to Establish Channels of Communication

Research and identify the securities issues involved at the onset of the case to open a dialogue with all parties to enhance communication and channeserl information to owners.

Keep Public-Securities Holders Informed

Distribute case notices to securities holders, including NOL Notices and Notices of Commencement, to share critical information throughout the case.

Customize Balloting Procedures and Corporate Actions

Develop and implement customized solicitation/voting procedures for securities holders, as well as special treatment elections and rights offering procedures.

Map Out Solicitation Procedures for Domestic and International Securities

Be prepared to navigate the back offices of domestic and overseas banks, brokerage firms and depositories to ensure maximum participation by public-securities holders.

Lay the Groundwork to Facilitate Distributions

Understand the operations and capabilities of depositories and the street when conducting plan distributions to securities holders.

For additional insight on the public securities process within corporate restructuring, Jonathan Carson, former restructuring attorney and managing director/co-founder of Kurtzman Carson Consultants, and David M. Sharp, director of KCC’s public securities services, are available as news sources and guest speakers. KCC also offers its expertise on various corporate restructuring-related topics with MCLE-accredited programs such as "A Practical Guide to Corporate Restructuring" and "Rights Offerings for Public Securities in Chapter 11 Proceedings" at law schools, law firms and industry conferences.