The average duration of large, public company bankruptcies has fallen sharply since the financial crisis. Remarkably, it took just over seven months in 2017 to administer a case. 1 While this trend lowers costs and provides other benefits to the bankruptcy estate, it means that unsecured creditors...
Picture this scenario: a 300-unit regional hospital in Ruraltown, USA, derives a significant amount of its revenue through its participation in government-sponsored Medicare and Medicaid programs and the hospital’s entitlement to prospective reimbursements from the government. Operations have been...
If restructuring professionals were asked whether the U.S. economy is currently weak or strong, they would likely offer varying answers depending on each professional’s experience. CFOs might answer entirely differently depending on the areas of business in which they operate. To avoid this kind of...
Winston Mar , a partner and managing director of SierraConstellation Partners (SCP) in Los Angeles, provides advisory and interim management services to distressed companies that include setting strategic direction, performing creditor negotiation, and implementing productivity improvements. He has...
Jeff Sands, CTP, of Dorset Partners; Larry Schwoeri of American Industrial Acquisition Corporation (AIAC); Jon Verbeck of Verbeck Associates; and Kristin Wainright of Tobin, Carberry, O’Malley, Riley & Selinger were recognized as winners of the TMA Small Company Turnaround of the Year Award for...
Joshua Cohen , president of the TMA Connecticut Chapter, ran seven marathons on seven continents in seven days recently in the 2018 World Marathon Challenge. Cohen was part of a 16-person group that called itself “Team Hold the Plane,” whose members raised more than $1 million for 11 organizations...
Alabama Daniel Connell, Regions Bank Thomas B. Humphries, Sirote & Permutt PC Arizona Tyler Rives, Pivotal Group Inc. Atlanta Kevin Bishop, Renasant Bank Blake Goddard, AloStar Capital Finance Ellis J. Pointon Gary L. Selden Joe F. Upson, Loeb Term Solutions California - Northern Wistar Morris...
The parallels between a distressed company and a patient in need of healthcare are endless. One of the analogies we use most frequently to describe our work as turnaround and restructuring professionals is that of an emergency room doctor. Depending on the severity of the ailment, we liken the...
The positive economic climate seen around much of the world is a mixed blessing for restructuring and turnaround professionals. We continue to see signs of growth from investment in infrastructure and energy, consumer spending, job creation, and asset value appreciation, all without the inflation...
In recent years, there has been an upward trend in the use of the Canadian insolvency regime as a mechanism to “detach” an unprofitable Canadian subsidiary from a larger corporate enterprise. In circumstances where an economically viable parent is hemorrhaging losses as a result of its Canadian...
