6. Present plan to creditors
While this is shown here as “Step 6,” in reality there will need to be ongoing, open, honest, candid, and frequent communication with creditors and (with the information in some modified form) with all stakeholders. That being said, it is appropriate to schedule “formal” periodic meetings and to present the two plans: the short term plan for survival - with a “little help,” and the longer term plan to get back on to the path to success – with a “lot more help” which will probably be in the form of a Financial Restructuring.
