Distressed investing has been strong since the collapse of the financial markets in 2008, but as the economy has continued to expand, it has become increasingly opportunistic. It appears that the U.S. economy, which is heading into its ninth year of expansion, will continue to expand, with low...

The past few years have brought a number of large rights offerings in bankruptcies in the energy, healthcare, and retail sectors. Between January 1, 2015, and December 1, 2017, more than $5.5 billion was raised through rights offerings or private placements in more than two dozen large bankruptcy...

The distressed investor considers investing in securities of companies that are either in bankruptcy or are approaching bankruptcy. Typically, these companies have outstanding claims greater than the value of the assets and are experiencing difficulty in servicing their debt. There is a real...

In the robust financing environment of 2017, commercial bankruptcies leveled off from credit-crisis highs. Through the first three quarters of 2017, commercial bankruptcies totaled 17,371, a significant decline from the 2009 peak year, when 45,510 commercial bankruptcies were filed in the first...

Corporate distress is rarely a surprise to participants in the capital structure, and it usually rears its ugly head over a series of unfortunate events. Customer losses, an unfavorable shift in industry dynamics, delayed G&A cuts, covenant breaches, and dwindling liquidity are just a small...

The Supreme Court of Canada recently found two banks liable in conversion for a $5.5 million check fraud carried out by a former employee of a major pharmaceutical company. The decision stands as the court’s most recent consideration of the “fictitious or non-existent” payee defense to the tort of...

Patrick J. Gros, CPA , is president of the eponymously named accounting firm that he and his wife Kimberly founded in 2001 in Covington, Louisiana. The firm provides outsourced accounting services, bankruptcy reporting, tax consulting and preparation, and compilation/review services, and...

TMA honors excellence through its annual awards program, which recognizes achievements in the categories listed below, plus more. The following awards were presented at The 2017 TMA Annual in Fort Worth, Texas, on Monday, October 23. TMA INDIVIDUAL AWARDS Jonathan Reimche, TMA Global Awards...

Andrew Blaesing , Matt Dossey , Peter (Che) Carrasquillo , and Catherine Kendall have joined Aurora Management Partners LLC in Charlotte, North Carolina. Blaesing and Dossey are associate directors, Carrasquillo is a senior consultant, and Kendall is marketing and administrative manager. Blaesing,...

Arizona Matt Johnson, Ritchie Bros. Auctioneers Molly Kjartanson, Quarles & Brady LLP Hannah R. Torres Atlanta Filmon M. Sexton IV, 
 King & Spalding LLP Australia Ian Renwood, Azurium California - Northern Kenneth Chan, Macquarie Group Noah Schottenstein, Baker Botts LLP California -...