When a company is experiencing financial distress, addressing problems as soon as possible is critical to achieving the best outcome. As the situation deteriorates over time, the odds of saving the business and maximizing value are minimized. Typically, once a company’s board recognizes the gravity...
It is almost a cliché in business circles that the numbers of formal insolvencies start to increase when an economy is coming out of recession. However, since the 2008 financial crash, the numbers of formal insolvencies have been declining. Initially, perhaps, this was because many companies were...
In my role as a guest editor of the JCR over the past couple of years, I have asked authors to focus on topics related to the energy business from the perspectives of both the investor and the turnaround professional. This year we have shifted to a survey format covering a broad range of topics...
A broad-based group of TMA members gathered in Chicago last month to kick off a process that will help determine the future course of TMA. In the face of ever-changing market dynamics, the group is charged with developing a strategic plan that will ensure TMA continues to be relevant and a valuable...
Arizona James H. Haithcock III, Burr & Forman LLP Hanna Lahr, Burr & Forman LLP Jason M. Osborn, Osborn Group LLC James H. White IV,
Baker Donelson Bearman Caldwell & Berkowitz PC Atlanta Thomas P. Clinkscales, Alston & Bird LLP Megan Y. Miller, Liberty University William S...
Hannam & Partners , a corporate finance advisory business based in London, has become a member of Global Special Situations , an alliance of investment banking firms with focus on special situations transactions. Other partners include SSG Capital Advisors LLC in the U.S., Saxenhammer & Co...
Howard Bailey, CTP , is a managing director at Arch + Beam LLC. He has more than 30 years of experience in banking and consulting, with more than 25 years in restructuring, loan workouts, and turnaround management. He has been an advisor and interim manager in multiple industries and has...
The law surrounding distressed acquisitions has been evolving rapidly for the past decade. The loan-to-own strategy, in which a would-be buyer purchases existing debt at a discount as a tool to achieve ownership of the target company, has been one of the favored strategies of value investors...
Delaware law regarding creditors’ abilities to bring successful breach of fiduciary duty claims has evolved significantly over the past 15 years — from creditors once being able to assert direct claims to now being able only to assert derivative claims on behalf of all creditors in “rare”...
On a daily basis, people are increasingly inundated with more “noise” than ever before. From never-ending coverage of the presidential race to what the stock market did that day and what it means for the future, analysis and commentary are abundant and come from a growing array of media and mediums...
