March 2018
Feature Article
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Retail Insolvencies in Canada: Parent Perspective
In recent years, there has been an upward trend in the use of the Canadian insolvency regime as a mechanism to “detach” an unprofitable Canadian subsidiary from a larger corporate enterprise. In circumstances where an economically viable parent is hemorrhaging losses as a result of its Canadian subsidiary operating unprofitably, it is not uncommon for […]
More from this Issue
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Six Degrees of Separation…or Less
You may be familiar with the “six degrees of separation” theory—the idea that every person in the world is connected to every other person by six or fewer steps. According to the six degrees theory, every one of an estimated 7.6 billion people in the world can be connected to every other person on the […] -
Newcomers: March 2018
Alabama Julian Lester Alexander III, AEA Group LLC Frederick Clarke III, Rumberger Kirk & Caldwell PA Brooks A. McElveen, Accounting, Economics and Appraisal Group Arizona Craig J. Bolton, MidFirst Bank Patrick A. Clisham, Engelman Berger PC Randy Nussbaum, Sacks Tierney PA Atlanta Ron C. Bingham II, Stites & Harbison PLLC Rebecca Jablonski, Ritchie Bros. Thomas […] -
Milestones
Shara C. Cornell has joined McDonald Hopkins LLC as an associate in the firm’s Chicago office. She has six years of experience representing secured and unsecured creditors in restructuring and bankruptcy proceedings, including large Chapter 11 bankruptcies. Cornell holds an LLM in bankruptcy and a law degree from St. John’s University School of Law and […] -
CTP Roundtable: By the Numbers
This is one in an occasional series of roundtable discussions by Certified Turnaround Professionals (CTPs) on issues impacting the turnaround, restructuring, and distressed investing industry. In this installment, Robert Handler, CTP, Commercial Recovery Associates; Bernadette Barron, CTP, Barron Business Consulting; Jeff Hyland, CTP, CTI Industries Corporation; and Dave Mack, CTP, Pathfinder Group LLC, discuss issues […] -
Poster Child: Michael M. Parker
Michael M. Parker is a partner with Norton Rose Fulbright in San Antonio and Austin, Texas. For 25 years, he has focused his practice on bankruptcy and insolvency-related litigation and workouts in a broad range of industries. Parker has considerable experience representing large and small buyers of distressed assets in U.S. Bankruptcy Court and federal […] -
Venezuelan Debt Crisis Intensifies as Its Leaders Ponder Responses
Venezuela is one of the richest countries in Latin America and has the world’s largest oil reserves. But it also has too much debt, severe corruption, and related economic, political, and social problems. What unfolds there will make it a top restructuring story in 2018 and beyond. Venezuela’s plight might seem curious given its wealth […] -
Avoiding the Abyss: How to Buy Distressed Assets in Germany
In today’s world, the ability to move money around the globe with relative ease, combined with increasing competition among investors who require double-digit returns, has made Europe—and more specifically, Germany—an attractive venue for purchasing assets. Due to Germany’s large industrial base, many buyers—in particular, private equity firms—often look in Germany for add-ons to their existing […] -
Use of Roll-ups in Canadian CCAA Cases Is Hotly Debated
When an insolvent company contemplates filing for creditor protection under one of Canada’s principle restructuring statutes, it may require interim financing or, as more typically referred to in the U.S., debtor-in-possession (DIP) financing. The availability of, and allowance for, DIP financing in Canada under the proposal provisions of the Bankruptcy & Insolvency Act1 and the […] -
The ‘Softer’ Side of Managing a Turnaround
In classical turnaround theory, an advisor/consultant/chief restructuring officer (CRO) arrives on the scene of a cash-strapped troubled organization armed with expertise in preparing and analyzing cash-flow and income projections, organization assessment tools, rationalization processes, and other arrows in the quiver. These are textbook protocols well-known to most turnaround professionals. The “softer” side of turnarounds is […] -
How Casual Dining Restaurants Can Take Back Their Lunch
Anyone eating at an Applebee’s, Buffalo Wild Wings, Chili’s, Olive Garden, Outback Steakhouse, Ruby Tuesday, or TGI Fridays is patronizing a casual dining restaurant. Casual dining establishments provide table service and have “price points of approximately $15 per meal” and “menus with a much wider range of choices” than the hand-held food offerings of quick-service […] -
Retail Insolvencies in Canada: Parent Perspective
In recent years, there has been an upward trend in the use of the Canadian insolvency regime as a mechanism to “detach” an unprofitable Canadian subsidiary from a larger corporate enterprise. In circumstances where an economically viable parent is hemorrhaging losses as a result of its Canadian subsidiary operating unprofitably, it is not uncommon for […] -
Ready for Anything
The positive economic climate seen around much of the world is a mixed blessing for restructuring and turnaround professionals. We continue to see signs of growth from investment in infrastructure and energy, consumer spending, job creation, and asset value appreciation, all without the inflation and interest rate increases that typically accompany this climate. Sectors such […]
Snapshot Article
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