Publisher's Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ... the reorganization of corporations; bondholders' and stockholders' protective committees; reorganization committees; and the voluntary recapitalization of corporations A Lecture Delivered before the Association of the Bar of the City of New 1 York, by Paul D. Cravath, March 1 and 8, 1916. The late Adrian H. Joline--and no lawyer of his day had a more varied contact with corporate reorganizations--said in one of his Harvard lectures delivered in 1910, that after an experience running over a period of thirty years, he found it about as difficult to tell how to reorganize a corporation as it would be for a poet to tell how to write poetry. One cannot formulate many rules or refer to many precedents which will serve as a guide to the reorganizes for each reorganization differs more or less from all others. I can therefore do little more than offer a series of practical suggestions based upon experience. This should be the most helpful method of approaching our subject, because in few branches of practice does experience count for more and there are none in which the books furnish so little help. I shall deal chiefly with the legal, rather than the economic and financial aspects of reorganizations, although in a great measure the legal and business questions are very closely intertwined. Usually it is not the duty of a lawyer to give advice to his client on economic questions. If you tell him what he may lawfully do, you may usually leave it to him to decide what he may wisely do. But in reorganizations, particularly if your clients are
