SOURCE: Marks Paneth & Shron LLP

Marks Paneth & Shron LLP

October 19, 2009 11:27 ET

Marks Paneth & Shron Litigation Group Director Publishes Article on Challenges and Opportunities Presented by Fresh-Start Reporting

NEW YORK, NY--(Marketwire - October 19, 2009) - John Bonora CPA/ABV, CFE, director in Marks Paneth & Shron's Litigation and Corporate Financial Advisory Services Group, has published an article in the July/August 2009 issue of ABI Journal that details the requirements for Fresh-start Reporting and the intricacies of the reporting process.

The prolonged economic downturn has brought about a surge in bankruptcies. While bankruptcy is a significant challenge in the life of any business, it also represents an opportunity to take a structured path toward improved financial health and to emerge as a sound organization going forward. Fresh-start reporting allows a company that meets the criteria to effectively clear its books and establish itself as a new entity with a clean balance sheet.

In the article, Mr. Bonora describes:

  • The central role of fair-value accounting in arriving at a fresh-start valuation.
  • The many closely timed steps required to establish fair value for the emerging entity.

The full text of the article can be found at: http://markspaneth.com/Publications_Detail.php?ID=568&Hash=565b81968028183d0a69e0f8d0b9b70281d8b84f

To speak with John Bonora or another member of the MP&S Litigation and Corporate Financial Services Group, please contact Adria Greenberg at 212.255.8386 or via email at adria@sommerfield.com.

About MP&S

Marks Paneth & Shron LLP (MP&S) is an accounting firm with nearly 500 people, approximately 70 of whom are partners and principals. The firm provides businesses with a full range of auditing, accounting, tax, restructuring and bankruptcy services as well as litigation and corporate financial advisory services to domestic and international clients. The firm also specializes in providing tax advisory and consulting for high net worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional and financial services and energy clients. For more information please visit http://www.markspaneth.com/.

Contact Information