The financial distress being experienced by many, if not most, colleges and universities—large and small, public and private, for-profit and not-for-profit—was thrust into the public eye by the May 2015 Chapter 11 filing of Corinthian Colleges, which had 107 campuses, employed over 10,000 people,...
As many in the turnaround and distressed space know, the total number of bankruptcy filings continues to languish. In Q1 2015, business bankruptcy filings were down more than 3 percent from Q4 2014 and 19 percent from Q1 2014. 1 In fact, Q1 2015’s filing count continues to mirror the lowest...
As this article is written, the price of West Texas Intermediate (WTI) crude oil (around $59.48/barrel as of June 30) remains 44 percent below a year ago, notwithstanding a recovery from the multiyear lows seen early this year. 1 While some observers speculate that this precipitous decline is the...
Lifetime Achievement Award 2017 – Alan Lepene, Partner, Thompson Hine Alan Lepene is a partner and Practice Group Leader of the Business Restructuring, Creditor’s Rights and Bankruptcy practice group at Thompson Hine, where he has practiced his entire career and previously served as a member of the...
Section 546(e) of the U.S. Bankruptcy Code limits the avoiding powers of trustees and debtors in possession. 1 Often called the “safe harbor provision,” the purpose of the limitations, as expressed in the legislative history accompanying the 1982 amendment that added this provision to the...
As in George Orwell’s Animal Farm , where “all animals are equal, but some animals are more equal than others,” 1 so it seems for creditors with regard to the priority scheme established under the U.S. Bankruptcy Code to bring fairness and certainty to distributions in bankruptcy. In connection...
This will be a unique opportunity to network in a more intimate setting. Everyone will be given the opportunity to introduce themselves to the entire group with plenty of time for networking before and after the introductions.
15th Annual Joint Breakfast Meeting with ACG "The Evolution of the Retail Industry" Panel : Richard S. Hauer , CTP, President - H3 Consulting Group David H. Stein , Esq. - Wilentz, Goldman & Spitzer PA Amy Valentine , Chief Financial Officer - SFERRA Moderator : Steven F. Agran , CTP, MBA,...
In 2014, the U.S. Bankruptcy Court for the District of Delaware issued a controversial ruling in the Fisker Automotive case limiting the amount of a secured creditor’s credit bid in a bankruptcy sale to the discounted purchase price the credit bidder had paid to acquire the secured debt. Among...
Even though default rates and corporate Chapter 11 filings remain at historic lows, a number of industries have been experiencing financial distress, including oil and gas, retail, higher education, and food processing. Hot topics affecting restructurings in all industries include potential limits...
