January/February 2021
Feature Article
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Leveraging Market Uncertainty in Restructuring Private Equity Investments
There is necessarily a tension that exists in any financial restructuring, and this is particularly so in the current environment considering that: 1. Creditors want both to (a) avoid an immediate write-down, particularly if they believe the business may rebound in the near- to mid-term, and (b) have shareholders/sponsors fund additional equity to support the business, […]
More from this Issue
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Where Do We Go from Here?
It is typically easy to determine how and why a business became distressed. After all, this analysis is frequently made after the fact and is fully informed by 20/20 hindsight. The difficult part is predicting the future and, through much of 2020, determining when various asset classes would emerge, and what they would look like […] -
TMA Tomorrow Starts Today
Welcome to the year of IMPACT to INNOVATION. Welcome to the world of TMA Tomorrow, brought to you by the unrestrained power of pure TMA imagination. Together we journey into 2021 more empowered, more emboldened, and more confident than ever before. In our pivot with purpose in 2020, we showed resilience, fortitude, and the willingness […] -
Turning the Page on a Challenging Year
I think I speak for most of us when I say we are ready to welcome 2021 and put 2020 behind us. While we’ve witnessed the heroic efforts of our healthcare professionals, essential workers, and others this past year, most, if not all, of us have also experienced challenges caused by the pandemic, whether because the […] -
Leveraging Market Uncertainty in Restructuring Private Equity Investments
There is necessarily a tension that exists in any financial restructuring, and this is particularly so in the current environment considering that: 1. Creditors want both to (a) avoid an immediate write-down, particularly if they believe the business may rebound in the near- to mid-term, and (b) have shareholders/sponsors fund additional equity to support the business, […] -
Diamonds in the Rough or Fool’s Gold: Strategies for Acquiring Distressed Energy Assets
The energy industry is ripe with opportunities for cash-rich buyers to purchase distressed assets at bargain prices. Several strategies exist for a buyer to reduce its risks while acquiring assets at deep discounts, including the ability to participate in a Section 363 sale process as a credit bidder, stalking horse bidder, or general bidder at […] -
Checking In? Why Distressed Debt Investors Should Look to the Hotel Industry
The economic downturn in 2020 has presented both opportunities and challenges in the distressed debt investing industry. The multitude of defaults and forbearances and the general decrease in business for hotels should catch the attention of distressed debt buyers looking for new opportunities to expand their presence in the hotel industry or get their first […] -
Getting Distressed Healthcare Industry Deals Across the Finish Line
When retained to market the sale of a distressed senior housing community, life plan community (formerly known as a continuing care retirement community, or CCRC), and/or skilled nursing facility, a reputable advisory firm takes steps to preserve value for the client and capture the maximum pricing the market will bear. When investors hear the term […] -
Bankruptcy Claims Trading Is Fraught with Uncertainty These Days
In the good old pre-pandemic days, buying administrative trade claims in bankruptcy cases was like shooting fish in a barrel—it was easy, it was profitable, and investors’ greatest concern was not whether they would be paid 100% but rather when they would be paid. Not any longer. After recent debacles in cases such as Toys […] -
2020 Bankruptcy Trends: A Year in Review
After years of relatively few filings, the number of bankruptcy cases started to gradually tick upward in 2019. Despite unprecedented economic growth since the Great Recession, many investors and professionals had been anticipating a downturn, but it is fair to say that “global pandemic” was on very few restructuring bingo cards for 2020, and yet […] -
The Sweetest Sound: John R. Rizzardi
Q: How did you gravitate into turnaround/restructuring work? Rizzardi: It was not by design. I began to practice law in 1979. In 1982, I was working at a four-lawyer firm in Auburn, a small town south of Seattle. The town’s senior lawyers regularly gathered for cocktails, and one night they learned the only bankruptcy lawyer in town had left […] -
Milestones
Nathan Hoover has joined Kugman Partners as an associate. His experience includes forming and implementing strategy for organizations experiencing transition, including stress and distress; managing complex sale transactions; and supporting C-suite and management teams with the development of sophisticated reporting tools, presentation templates, and financial models. Before joining Kugman Partners, Hoover was a senior financial […] -
Newcomers: January/February 2021
Arizona Nicole Marucci Matthew Suzuki Atlanta Michael McCord, Bennett Thrasher LLP California – Northern Jarod J. Wada, Sherwood Partners Inc. Machael Bropleh, Province Inc. Abigail Clemons Michael G. Farag, Gibson Dunn & Crutcher LLP Mark Nixon Shawn Thompson, Diamond Capital Advisors Carolinas Justin Norwood Chesapeake Kamal Eko Kenneth W. Mann, SC&H Capital Emony M. Robertson Edgar S. […]
Snapshot Article
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