May 2017
Feature Article
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Will Interest Rate Hikes Be a Rainmaker for Turnaround Pros? Don’t Count on It
Many bankruptcy attorneys, financial advisors, and investment bankers who work in the distressed business industry believe that when interest rates increase to more historic levels the industry will enjoy a much-needed resurgence after five years of depressed engagement volume and fees. Clearly the Federal Reserve is in the process of gradually increasing the federal funds […]
More from this Issue
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Empowering Women to Reach Their Fullest Potential
As we prepare to host the TMA Network of Women (NOW) Summit in Chicago on May 16, I thought it was appropriate to reflect on the TMA NOW initiative. Established in 2013, TMA NOW fosters female leadership by creating the premier business development and networking group for women in the turnaround community. It does so […] -
Newcomers: May 2017
Alabama James A. White, Eagle Business Credit Arizona Susan Conrad, Simon Consulting LLC Atlanta Neil Heyside, Deloitte CRG Matthew J. McEnerney, Aurora Management Partners Inc. Jay Moore, Whitehorse Capital Partners LP Neal Mulford, AloStar Bank of Commerce California – Northern Jeannie Kim, U.S. Bankruptcy Court, Northern District of California Mark McKane, Kirkland & Ellis LLP California – Southern […] -
Deirdre Carey Brown: Acting Out
Deirdre Carey Brown is of counsel with Hoover Slovacek LLP in Houston. Board certified in business bankruptcy law by the Texas Board of Legal Specialization, she focuses her practice on complex commercial litigation, with an emphasis on bankruptcy litigation and mediation. Brown consistently serves as lead counsel on matters involving commercial litigation; collections; business-to-business, landlord-tenant, […] -
CTP Healthcare Roundtable: Distressed Hospitals
This is the first 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, Ruediger (Rudi) Mueller, CTP; Robert D. Katz, CTP; and Edward J. Sanz, CTP, discuss some of the problems facing distressed hospitals. Mueller moderated the discussion. Mueller: […] -
Lenders, Landlords Can Turn to Healthcare Receiverships for Troubled Facilities
The healthcare industry presents challenges for operators, landlords, lenders, vendors, and others doing business within the sector. The industry is virtually always in turmoil amid reimbursement rate modifications, new enforcement efforts, and the ongoing evolution of the delivery of medical care. With the advent of the Affordable Care Act (ACA), certain players in the industry […] -
Japan’s Buyout Firms Generate Stable Returns Via Operational Improvements
At least up until now, the Japanese buyout market has disappointed many market players in terms of market volume, which, according to Asia Private Equity Review, was $3.6 billion in 2016. This is a 69 percent decrease from 2008 and represents less than 0.1 percent of the nation’s gross domestic product (GDP). Despite Japan being […] -
The Enforceability of a Make-Whole Provision in Bankruptcy: It Says What It Says
For more than a decade, make-whole premiums, also referred to at times as prepayment premiums, prepayment fees, yield maintenance premiums, or similar terms, have been a common feature in bond indentures and credit agreements. The basic purpose of a make-whole premium is to compensate the investor or lender if the debt is paid prior to […] -
Why CEO Leadership Gaps in Troubled Companies Matter
One consistent theme can be found playing out in virtually every troubled and underperforming company: a sustained gap in effective leadership by the CEO. Throughout the life cycle of a business, normal ebbs and flows of both prosperity and challenges are natural. Businesses are continually impacted by internal and external forces, and many may be […] -
Communicating Intent in Trading Documentation: Lessons from Stonehill
An important decision related to the trading of bank loans was issued recently by New York State’s highest court. To the relief of the loan trading market, the decision reaffirms market practice surrounding the formation of binding obligations to close a trade. In Stonehill Capital Management et al v. Bank of the West, the New […] -
Changes, Challenges Are Sole Certainties in Healthcare’s Uncertain Future
The future of healthcare in America has never been so uncertain. Amid continuing political tensions, payer and patient pressures, and changes in the way that care is delivered, there doesn’t appear to be a clear and distinct path forward. And there may not be for quite some time, given Congress’ recent unsuccessful attempt to replace […] -
Will Interest Rate Hikes Be a Rainmaker for Turnaround Pros? Don’t Count on It
Many bankruptcy attorneys, financial advisors, and investment bankers who work in the distressed business industry believe that when interest rates increase to more historic levels the industry will enjoy a much-needed resurgence after five years of depressed engagement volume and fees. Clearly the Federal Reserve is in the process of gradually increasing the federal funds […]