Unfortunately, theft from charitable organizations is neither rare nor insignificant. The Internal Revenue Service, which began collecting diversion data in 2008 from the larger nonprofits that are registered with the agency, reported that 285 diversions involving total losses of more than $170...
“The most useful and influential people in America are those who take the deepest interest in institutions that exist for the purpose of making the world better.” What Booker T. Washington recognized in 1901 holds true today. More than 25 percent of adults volunteer with nonprofit organizations,...
Disposing of assets of a nonprofit corporation, whether tax-exempt or taxable—or liquidating or dissolving such an entity—can be wrought with traps for those unfamiliar with the additional legal regimes and other considerations that overlay nonprofit organizations. Unlike their for-profit brethren...
When bankruptcy and restructuring professionals evaluate the health of a company, they typically focus on the pieces of information that they can touch—balance sheets, cash flow statements, working capital. They look at liquidity, solvency, and profit and loss. They also look at the company’s...
In 2015, Sears sold a portion of its real estate holdings to Seritage (SRG), a newly formed real estate investment trust (REIT) owned by existing Sears shareholders, in a $2.7 billion sale-leaseback transaction. The real estate holdings consisted of existing Sears retail locations, and as part of...
Marti P. Murray is the founder and president of Murray Analytics in New York City. She also founded Murray Capital Management, a distressed debt-focused hedge fund, in 1995 and served as the firm’s president and portfolio manager. The firm’s distressed debt business was acquired by Babson Capital...
David A. Agay has been named the new managing member of the Chicago office of McDonald Hopkins LLC , succeeding Richard N. Kessler, who served as the managing member in Chicago since 2007. Agay, a corporate restructuring attorney who joined the firm in 2011, previously served as the Chicago office’...
Alabama Jack N. Roby III, Fountain Parker Harbarger & Associates LLC Ryan Thompson, Maynard Cooper & Gale PC James Warboys, Linklaters LLP Arizona Tanner Herrick, First American Title Insurance Co. Anoop K. Kumar, Maricopa County Lauren Peterson, GlassRatner Advisory & Capital...
TMA Chicago/Midwest: Operational Excellence (Mega Chapter) A Student Internship Competition was created in 2016 and was offered to interns at companies who are annual sponsors. The competition promotes young professionals exploring careers in corporate restructuring and enhances TMA’s visibility in...
George Bernard Shaw once said, “Progress is impossible without change, and those who cannot change their minds cannot change anything.” Those words have a special resonance for those of us in the turnaround community, especially those who focus on retail. We have witnessed record-shattering e-...
