July/August 2016
More from this Issue
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The Evolving Role of Information Officers in Canadian Cross-Border Cases
In Canada, compromises and arrangements with creditors can be pursued under the Companies’ Creditors Arrangement Act (CCAA). To reorganize under the CCAA, the debtor must be an insolvent corporate entity, formed under Canadian or foreign law, with a total amount of claims against it or its affiliates of at least Canadian $5 million. Part IV […] -
Applying Turnaround Principles in a Municipal Environment
Restructuring a city, school district, county, or other public sector body presents unique challenges that turnaround professionals likely haven’t encountered in the private sector. While many of the same turnaround principles apply, the environment is different and thus the approach taken must also be different from a private sector engagement. This article discusses differences between […] -
U.S., English Courts Welcome Most–But Not All–Foreign Debtors
A person or corporation that “resides or has a domicile, a place of business, or property in the United States” may file a bankruptcy petition in a U.S. Bankruptcy Court. Given that U.S. courts have taken an expansive view of their jurisdiction under this portion of the U.S. Bankruptcy Code, there has been an increase in […] -
Brazil’s Economic Woes Fuel Debt Restructurings, Judicial Reorganization Proceedings
Following almost a decade of booming economic activity, the Brazilian economy has lately experienced market and political developments that have caused a severe downturn. The sharp decrease in the price of commodities, the devaluation of the Brazilian currency, alarming levels of inflation, lack of market-oriented fiscal and monetary policies, uncertainties in the political landscape, the […] -
Report Indicates Middle Market Distress Is on the Rise
The Polsinelli | TrBk Distress Indices for the first quarter of 2016 showed a 30-point jump in the Healthcare Services Distress Index, pushing the measure to its highest level since the inception of the indices. For the first time since 2010, all three measures included in the Distress Indices increased in the same period, suggesting […] -
Soegiono “Sugi” Hadiwijaya: Teachable Moments
Soegiono “Sugi” Hadiwijaya, senior manager with Deloitte Transactions and Business Analytics LLP and senior vice president with Deloitte Corporate Restructuring Group in Dallas, has more than 10 years of combined experience in financial services and turnaround management. He has provided financial advisory and operational restructuring services, both out of court and during Chapter 11 proceedings, […] -
Milestones
Gordon Brothers Group has established São Paulo, Brazil-based operations and named Alfredo Finotti as executive director and Marcos Brandt as commercial director. In addition, the firm announced that it has formed a strategic partnership with Planconsult, a São Paulo firm that provides appraisals and business valuations across a range of sectors and industries. Rafael Klotz, […] -
Back on the Boardwalk
The 2016 TMA Mid-Atlantic Regional Symposium was back on the Atlantic City Boardwalk June 8-9 for the second year in a row. But will the popular seaside destination be able to address its financial woes and reclaim its status as a premier destination on the Jersey shore? A panel of experts addressed the city’s historic […] -
2016 MARC Features Several ‘Firsts’
The ninth TMA MidAmerica Regional Conference (MARC) took place May 11-13 at the InterContinental Hotel in downtown Chicago. Mike Egan of Monroe Capital and Meagan Hardcastle of Harmon Partners served as co-chairs of the event, which attracted more than 200 attendees and was hosted by six TMA chapters from throughout the region: Chicago/Midwest, Detroit, Minnesota, […] -
Working to Harmonize EU Insolvency Laws
TMA chapter leaders from across Europe came together in Rome June 9 for the TMA European Chapter Presidents meeting. This annual gathering allows for a dialogue on issues and concerns facing turnaround, restructuring, and insolvency professionals in TMA’s largest market outside North America. While issues vary country by country, common themes prevail, including the expanding […]