Not all new ventures finance their development with equity capital; some companies access debt capital even before achieving earnings stability. A stumble on the road to profitability can lead to distress, insolvency and bankruptcy, as was observed in cases like SunEdison and LightSquared, as well as in several recent biotech and E&P-related bankruptcies. Once distress sets in, traditional valuation methodologies can become challenging to implement, especially for litigation purposes. This panel considers how parties and, in turn, bankruptcy courts should consider valuation issues respecting debtors that falter while still in the developmental stage.