As a senior secured lender $($M&L Bank$),$ What option$($s$)$ in exhibit $5$ below do you plan to pursue in the negotiations? Be sure to consider how the other negotiating parties might react to your proposal and what legal rights and other options they have at their disposal.Restructuring Options

Refinance Debt

Availability of financing? Amount?

Required new equity infusion?

How much debt can company support?

Terms?

Sale Process

Marketing process

Retain investment banker?

Company's operating burn rate?

Need to fund process?

Bankruptcy

Goals? What would be achieved?

Funding? How much? Who would provide?

Sale process in bankruptcy? $($Section $363$ sale$)$

Stalking horse bid?

$$ Credit bid by bank?

Restructuring Plan?

$$ Funding issues?

$$ Cash collateral?

Potential for litigation with bank?

Dismissal for bad faith? Relief from automatic stay?

$$ Exit financing?

New equity investment

Director$/$officer liability issues?

Out of Court Restructure

Consensual foreclosure?

Debt for equity swap?

Sale by bank to third party?

New equity investment?

Director$/$officer liability issues?

Wind$-$down costs, payment of unsecured claims?

Priority tax and wages claims?

Source: Created by case writer.