June 2022
Feature Article
-
How Distressed Lenders Are Navigating an Uncertain and Volatile Environment
When investing in distressed or “storied” situations, today’s lenders must double down on the energy and thoughtfulness of their approach to succeed in an environment characterized by unprecedented uncertainty and volatility. Because the road to recovery for the situation will likely be impacted by current market stresses, a capital provider must be more focused and […]
More from this Issue
-
The Role of Liquidity in Distressed Situations
Change is constant and keeps the restructuring industry ever evolving and always interesting. Midway through, 2022 has proven to be no different. A new wrinkle, inflation, is directly impacting every industry, requiring management teams to adapt to survive. The impacts of inflation will take many forms, leaving companies to determine how to manage both their […] -
Three Recent TMA Events Show Where We Are, Where We’re Going
As we bring to a close the first half of 2022, I wanted to reflect on some highlights that speak to where we are as an organization and where we will journey for the balance of this year and beyond. Just a few weeks ago, Austin, Texas, was host to three different, yet equally empowering […] -
Emerging from the ‘Disruption of the Century’ Stronger Than Ever
As professionals in the restructuring, corporate renewal, and insolvency industries, we witness obstacles and challenges caused by disruption that our clients and businesses face every day. Although no one could have predicted the “disruption of the century” caused by the COVID-19 global pandemic, our members and community were armed with the tools they needed to […] -
How Distressed Lenders Are Navigating an Uncertain and Volatile Environment
When investing in distressed or “storied” situations, today’s lenders must double down on the energy and thoughtfulness of their approach to succeed in an environment characterized by unprecedented uncertainty and volatility. Because the road to recovery for the situation will likely be impacted by current market stresses, a capital provider must be more focused and […] -
Is the Market for Distressed Lending in Canada About to Change?
The distressed market arguably always has a relatively small share of global capital markets. (Canada’s last recession, for instance, was in 2008-2009.) But in this recent environment characterized by strong M&A activity and easy access to debt and equity capital over the past five years or so, distressed debt financing has played an even smaller […] -
European Restructuring Outlook: Considerations for Lenders
As Europe prepared to emerge from the COVID-19 pandemic and navigate the resultant uncertain economic environment, Russia invaded Ukraine in February 2022, plunging the continent into disarray once again. The unprecedented pandemic followed on the heels of Brexit, which itself will have lasting impact on the region. In light of these events, together with recent […] -
The Tides Are Shifting for Distressed Lending
Over the past two years, distressed investing has been, well, distressed. Fewer opportunities have been available for distressed lenders outside of industries directly impacted by COVID, such as hospitality. New Federal Deposit Insurance Corporation (FDIC) rules have allowed banks more leeway to modify loans. Paycheck Protection Program (PPP) loans ($790 billion) and Economic Injury Disaster Loans (EIDL) […] -
Lines Are Blurring Among Traditional Roles Dealing with Distressed Businesses
The well-known pop song “Blurred Lines” is about the conflict between societies’ desire for more and the desire to respect boundaries. The song could be describing the current state of affairs between and among investment banks, on the one hand, and, on the other, turnaround firms and accounting firms, which both now provide investment banking, […] -
Getting to Yes in DIP Financing Negotiations
The concept and benefits of providing debtor-in-possession (DIP) financing under Bankruptcy Code Section 364 are not new. But because DIP financing negotiations are often conducted on a compressed timeline and can be both complex and laborious, this article serves as both a primer and refresher for new and experienced professionals alike. Value maximization is the […] -
Asset-Based Lending Provides Structured Funding for Businesses in Turnaround
As the pandemic headwinds continue to buffet the economy and the spectre of spiralling energy costs and long-term inflation looms large, businesses that were once riding high now risk being deflected off course just at the time when they are trying to navigate their emergence. With near-term liquidity a major concern, government aid provided swift […] -
Factoring Is an Often-Overlooked Liquidity Source FOR Distressed Companies
Turnaround professionals are often tasked with helping their clients obtain the capital needed to navigate the restructuring process. To meet this challenge, it is essential to understand the wide variety of commercial financing options available. The commercial lending industry is still adjusting to the impact of COVID-19. This includes the liquidity which flooded the market […] -
When Opportunity Knocks: Megan R. I. Baxter-Labut
Q: You have an interesting background for someone in this field. What were you doing before gravitating into turnaround and restructuring work? Baxter-Labut: I was a customs and immigration officer for seven years with the Canada Border Services Agency (CBSA). Q: How did that come about? Baxter-Labut: When an opportunity presents itself, I always take it, even if […] -
Newcomers: June 2022
Arizona Anthony Azizeh, VION Receivable Investments Inc. California – Northern California Jared M. Fineman California – Southern California Jason Carmona, Republic Business Credit LLC Jeriad Paul, Omni Agent Solutions Andi G. Pirnat Jonathan S. Shenson Kim D. Steverson Carolinas Charles P. Davis Bill Hainey John R. Van Swearingen Chesapeake James E. Morton Matthew Oliver Chicago/Midwest Todd M. […]
Snapshot Article
Upcoming
2024 TMA Annual Conference
October 15 – 18, 2024
Loews Philadelphia
Philadelphia, PA