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Archive for the ‘David Ganje Presentations’ Category

Natural Resource Issues in Modern Real Estate Deals

Posted on: May 25th, 2022
by David Ganje

Download the Natural Resource Issues in Modern Real Estate Deals presentation.

natural resource issues in modern real estate deals

Hostler vs Davison Cty Drainage Commissioner – Final Judgement

Posted on: November 12th, 2020
by David Ganje

17CIV20-000087_FINDINGS-OF-FACT-CERTIFICATION-FOR-FINAL-JUDGMENT-CONCLUSIONS-OF-LAW-AND-ORDER

How Can I Turn Around from Covid-19?

Posted on: October 30th, 2020
by David Ganje

In this piece I discuss legal problems the business and ag world now face. I have seen this rodeo before. I have ridden the bronco. It hurts when you fall. (I prefer falling off of a motorcycle — the drop is less severe).

Don’t kid yourself. Don’t act like the coronavirus effect on the region’s economy is something that will just pass. Yes, it will pass. But it will take a damn long time to pass. Further, this will be a depression, and one not known by history because of the intricate modern phenomenon of government regulations which are indelibly integrated into every aspect of the business and agricultural world.

Those of you old enough will remember how long it took to get out of the 1980s ag recession. I have seen and worked in two recessions in my career — and this one is bigger and quite distinct from either of those. Start now to plan. Start now to deal with the complicated financial problems in the ag and ranch world. They are here.

A modern economy is not simple. It is an admixture of market stupidity, unresponsive government programs, bad banking regulations and management, and overall misjudgments by most everyone. Government won’t bail out the problem. Government might help some, but it is not the remedy. Government can’t foresee, can’t plan, can’t address and can’t correctly manage.

I know, I have also worked for government.

So let’s start our review. Consider that when I use the term business it means those in business whether ranchers, farmers, suppliers, service providers, banks and financial institutions. All of whom I have represented in my career. When I taught bankruptcy law, I used a medical analogy: I told the young legal scholars that a bankruptcy filing is akin to surgery. Surgery should always be treated as the last option.

In the medical field, a reasonable first option is an antibiotic. Here, the antibiotic is a “workout” or a “turnaround,” each of which are bankruptcy alternatives. These alternatives have value and should be attempted by both creditors and debtors as a viable option, not just a throwaway line. I have successfully represented debtors and creditors in turnarounds and workouts. Resolving “stressed-business” issues out of court makes sense when the option is there.

Financial restructuring and workouts involve working closely with a business’s creditors to create, or “workout” plan (often a written contract) to restructure business debts while allowing the business to remain viable. This process allows the business entity to negotiate its debts in a way that retains profitability without involving the court system. This is not as difficult as it might sound — creditors often share the same objective of returning a financially stressed business to good financial health in order to ensure their debts are paid.

A “turnaround” is a separate process from a workout. It may also use the availability of restructuring and workouts, but a turnaround has several other components. A turnaround will generally restructure operational aspects of the business. This may be the solution when the problem lies deeper in the company than lack of cash flow. Where a creditor will not restructure the debts owed to it, a turnaround will be utilized to find alternative financing or new ownership.

Another possibility in a turnaround is the sale of ownership or a portion of ownership, which can provide liquidity at the expense of a change of control of the business.

If the company’s goal is to continue in business, particularly under current ownership, then a creditor or a lender workout should be considered. If new ownership, or a sale of the business in whole or in part, is an acceptable outcome so long as the business is preserved as a going concern, a turnaround can be considered as well.

The process of financial restructuring and negotiating a workout with business creditors is something that should be considered to avoid the expenses and bureaucracy related to a bankruptcy proceeding. The Chapter 11 bankruptcy reorganization process is expensive and time-consuming. The goal of business turnarounds or financial restructuring is to provide a cost effective approach by way of a ‘non judicial/non bankruptcy’ business reorganization, to restructure business debts.

Courtship and finances have something in common: timing is everything. When a business is in a stressed situation, neither the business nor its creditors should go in stand-by mode. Negotiations should begin immediately. In both the workout and turnaround, all parties must agree to the terms; both are matters of serious negotiation to be done with all deliberate speed.

Bankruptcy proceedings are not the only way to save a business — sometimes a well-prescribed antibiotic can halt the damage and let the healing begin.

David L Ganje
Ganje Law Offices
Web:
lexenergy.net

605 385 0330

davidganje@ganjelaw.com

THE DAKOTAS FIRST WOMAN SHERIFF—MY GRANDMOTHER

Posted on: March 26th, 2016
by David Ganje

Youth is a relative thing. I have lost mine already. But history is more interesting. I read several articles of late about so and so being the first female sheriff in the US. I tried to track these down and contacted an author in Texas about this subject. I have asked for documents based on a Texas news article but have not received any. We all know how much to trust the media in any event. In point of history the honor of the first female sheriff in the US may go to South Dakota. The honor of being the first female sheriff in the South Dakota may go to my grandmother Amelia Geisler of Aberdeen. Both my grandfather Louis Geisler and my grandmother Amelia Geisler held the office of Brown County Sheriff. In point of fact my mother, now 90 and in good health, was raised in jail. I, in distinction, was almost put in jail, but that is not our subject today.

How did my grandmother become sheriff? First we must remember the golden rule: No Good Deed Goes Unpunished. My grandfather ran successfully for Brown County Sheriff and received the certificate of election. His opponent challenged him and asserted to the trial Judge that my granddad’s campaign pledge was illegal. The trial Judge, not a legal scholar by any stretch, agreed with the challenger and declared a vacancy in the office of Brown County Sheriff. My grandfather was out.

Here is the egregious campaign pledge my granddad made: “. . . I pledge myself to turn in to the county treasurer all such penalties collected by me, and further agree to make no claim for them at any time in the future. Lou B. Geisler.” In other words, my grandfather did not want the sheriff’s office to profit when it had the unfortunate duty of collecting delinquent property taxes.

Brown County was left without a sheriff because of the trial court’s ruling. The county commissioners were left with a quandary as they were authorized to appoint a sheriff under the circumstances. Well, contrary to the natural order of things as far as politicians go, the Brown County Commission actually did something creative and progressive. They appointed my grandmother, all 100 pounds of her, as Brown County Sheriff. Amelia never carried a gun while she was sheriff. My grandmother, being no one’s fool, appointed my grandfather as her chief deputy.

How in the world a trial court could consider my grandfather’s actions as unfair campaign tactics is beyond my thinking. Lou Geisler was as I recall him honest to the core. So much so that I suspect Sioux Falls’ residents might consider him boring by their big city standards.

All turned out well. My grandfather appealed the trial court’s decision and the SD Supreme Court overturned the trial judge’s decision. The Supreme Court recertified my grandfather’s election. Of course it took some time. The wheels of justice turn slowly even when operating as fully lubricated. Upon completion of her job, and in recognition of her unique role and the unique role of a woman in the 1920s, the Governor gave my grandmother a pearl handled 38. She gave it to me some years ago. My mother was raised in jail, and I turned out as I did much to the consternation of my high school principal.

David Ganje practices law in the area of natural resources, environmental and commercial law in South Dakota and North Dakota. His website is Lexenergy.net

David Ganje to Speak at Annual Meeting of American Association of Professional Landmen

Posted on: February 28th, 2014
by David Ganje

 

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AAPL’s 60th Annual Meeting
Education Events

Wednesday June 25th

Wednesday Seminars
(Separate registration required for Seminar Events)

Seminar 1 – 8:15 – 11:30 am
Ethics
Gary Lepine with Concord Professional Development Inc.

Seminar Luncheon -11:45 am – 1: 15 pm
Global Impact of NA Unconventional Plays
Chris Theal with Kottenay Capital Management Corp.

Seminar 2 – 1:15 – 4:45 pm
LNG 101: A detailed look at the North American and Global LNG Landscape
Tom Valentine with Norton Rose Fulbright

 

 

AAPL’s 60th Annual Meeting
Education Events

 

Wednesday June 25th

Wednesday Seminars
(Separate registration required for Seminar Events)

Seminar 1 – 8:15 – 11:30 am
Ethics
Gary Lepine with Concord Professional Development Inc.

Seminar Luncheon -11:45 am – 1: 15 pm
Global Impact of NA Unconventional Plays
Chris Theal with Kottenay Capital Management Corp.

Seminar 2 – 1:15 – 4:45 pm
LNG 101: A detailed look at the North American and Global LNG Landscape
Tom Valentine with Norton Rose Fulbright

Thursday June 26th

Education Sessions
1:00 – 5:00 pm

 

1) Klotzman Complaint with David Gross

 

2) Surface Issues with Celia Flowers

 

3) Design for Horizontal Wells with Brian Teller

 

4) Dormant/Abandoned Mineral Rights with David Ganje – Attorney at law