Scott Stuart began losing his fear of failure at an unlikely time: in the middle of a streak of courtroom wins as a young lawyer in 1989 at the Finkel Goldstein law firm in New York. An older attorney who noticed his success pulled him aside and told him not to keep count, warning that there will...

Alabama Timothy George Holland, Holland Turnaround & Restructuring Consulting LLC Arizona Shannon Gallop, First Western Trust Bank Eric Lee, Keegan, Linscott & Kenon P.C. Joseph Yockey, Leading Edge Manufacturing LLC Atlanta Richard Baxter, FTI Consulting William J. Boehman, Yamaha Motor...

While it is impossible to predict the exact timing, a downturn is inevitably coming after such a long period of economic expansion. The stretch of time following the last recession in 2008 has featured low interest rates that make debt loads more manageable for middle market businesses. The past...

Many non-bank direct lenders and others are asking, “Are we ever going to have a recession?” The obvious answer to that question is yes, but no one knows when. Risk appears to be extremely underpriced. Leverage lending multiples and advance rates on asset-based transactions are at all-time highs...

This article addresses certain financing topics from the perspective of a non-bank cash flow lender in the lower middle market segment, referencing companies with EBITDA of less than $30 million. The article explores some key issues for cash flow lenders in today’s late-cycle environment. The...

In the past, when companies in distress turned to restructuring professionals, those professionals often had a one-size-fits-all solution: Chapter 11 bankruptcy. However, as the cost and complexity of Chapter 11 have increased, so has the risk that filing a company for an unplanned Chapter 11 could...

Since the 1978 passage of the U.S. Bankruptcy Code, the corporate structure and financing arrangements of a typical Chapter 11 debtor have changed dramatically. 1 When the Bankruptcy Code was enacted, the assets of a typical debtor were encumbered by a lien held by a single secured creditor. 2...

As the market continues an unprecedented eight-year M&A and stock market bull run, people continually ask where the economy is in the business cycle—what inning?—and whether it is closer to the end of the game than to the beginning. No one has the crystal ball to pinpoint the exact moment when...

Edward P. Bond , a founding member of New Jersey accounting firm Bederson LLP , received a Lifetime Leadership Achievement Award during the Turnaround Atlas Awards recently at the Metropolitan Club in New York City. His firm also received an award in the private equity turnaround (small cap)...

Alabama Barry K. Curry, Crestmark Bank Arizona David Wm. Engelman, Engelman Berger PC Alan Quinty, FTI Consulting Michael Suzuki, Maynards Capital Atlanta Patrick Thom, Action Capital Corporation California - Northern Greg Geronemus Kevin Gunter, Alterna Capital Solutions Reiley Higgins, PNC...