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The authors suggest the following language be included in all press releases issued by companies involved in bankruptcy proceedings: The Corporation is currently in a bankruptcy proceeding. All documents filed with the bankruptcy court are available to the public. The bankruptcy proceedings may affect the interest of shareholders in the Corporation. The Corporation advises you to seek the assistance of professionals knowledgeable about the bankruptcy proceedings when making investment decisions concerning the Corporation. The above or similar language will likely protect the debtor and its management from allegations of withholding material facts in connection with its press releases. Craig M. Rankin is a partner at the Los Angeles-based bankruptcy boutique Levene, Neale, Bender & Rankin L.L.P.and formerly clerked for a bankruptcy judge. David B. Golubchik is an associate at the firm. This clause is an excerpt from the authors’ article entitled “A Debtor’s Press Release.”

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