This form is a Composition with Creditors that can be used by a troubled company that is faced with insolvency but wishes to minimize the expense, time, and potential stigma associated with a formal restructuring. This template includes practical guidance and drafting notes. Composition agreements are often used in situations where the principals of a troubled company are seeking to retain their equity interests and control of the enterprise but nonetheless need to address balance sheet concerns. This template contains all of the key components and mechanisms necessary to execute a standard composition with creditors. Counsel should note, however, that no standard form is required for a composition with creditors to be valid. The drafting process will vary depending on the type and amount of creditors and the relationships that the debtor has with each one. For a full listing of key content that provides an overview of several out-of-court restructuring options, including workouts, and ...