This document discusses various options for companies facing financial difficulties, including asset sales, wind downs, recapitalizations, and dissolution. It notes the pros and cons of asset sales versus multiple asset deals. For recapitalizations, it outlines the mechanics and key considerations around fairness issues. Wind downs require preparing financial projections both with and without going concern assumptions. Directors and officers could face personal liability for unpaid wages, taxes, and other obligations. The document provides a sample checklist for winding down a company and emphasizes the importance of clear communication with all stakeholders throughout the process.