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...

E d Caldie is a partner with Stinson Leonard Street in Minneapolis. He represents creditors’ committees, trustees, financial institutions, individual creditors, corporate debtors, buyers, servicers, public companies, investment funds, and others in complex bankruptcies, workout scenarios,...

In 2008, TMA established the Turnaround, Restructuring and Distressed Investing Industry Hall of Fame to honor and preserve the names of those whose outstanding individual contributions have increased the stature and respect of an industry dedicated to stabilizing underperforming companies,...

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...

The foundation of this house is strong, its pillars rich with knowledge, experience, and potential. On this strong foundation, we are building a great house that welcomes a diverse community of professionals from near and far. It is a place that all from our community can call home. This next...

A troubled company often reflexively perceives a bankruptcy filing as the prototype solution to its financial distress. Bankruptcy is an important and powerful tool to address insolvency—providing for an automatic stay, the sale of assets free and clear, confirmation of a plan over the objection of...

An assignment for the benefit of the creditors (ABC) has become an increasingly well-known insolvency process. While an ABC may have certain advantages for a particular company over other insolvency alternatives ( e.g ., a bankruptcy filing, foreclosure), the facts of each situation should be well...

Complex commercial and property cases can turn on issues that are not easily resolved by conventional litigation. But the law offers a path out of the thicket. Receivership is a tool that is often overlooked in complex disputes. Working with the court, receivers can provide the structure, guidance...