May 2019
Feature Article
-
Internal Controls Are Front Line of Defense Against Fraud
The Kraft Heinz Co. owns 60 percent of the ketchup market in the United States and 80 percent of that market in Europe. As of 2014, 97 percent of American households had ketchup on hand, and most of that was Heinz. When people think of ketchup, they think of Heinz. Kraft Heinz also is home to other such iconic brands […]
More from this Issue
-
Awareness Increases as Incidents of Fraud Grow
Corporations cannot afford to treat fraud as an uncontrollable act perpetuated on them. The risks and problems associated with fraud are on the rise, while the financial consequences of ineffective fraud controls are proving to be increasingly damaging. There is no doubt that fraud awareness is increasing at companies. According to PwC’s 2018 Global Economic […] -
A Woman for the Ages
Women in restructuring represent a growing and ever-important part of our professional community worldwide, and we at TMA are ever-proud of these members’ accomplishments. As we approach our TMA NOW Summit, one of most engaged and connected conferences of the year, I wanted to share one of the most impactful and important moments of my […] -
TMA’s Global Vision
As I understand the vision of TMA’s founders over 30 years ago, they were building a community of like-minded professionals who were focused on corporate renewal and rehabilitation, not simply bankruptcy and liquidation. They envisioned a community which facilitated knowledge sharing, established credentials, and passed on their tools to others to expand awareness of the […] -
Internal Controls Are Front Line of Defense Against Fraud
The Kraft Heinz Co. owns 60 percent of the ketchup market in the United States and 80 percent of that market in Europe. As of 2014, 97 percent of American households had ketchup on hand, and most of that was Heinz. When people think of ketchup, they think of Heinz. Kraft Heinz also is home to other such iconic brands […] -
When Ponzi Schemes Collapse, Service Providers May Be in the Cross-Hairs
DC Solar Solutions Inc. described itself as a designer, manufacturer, and lessor of renewable energy products. More recently, though, it has been described in court documents as a massive Ponzi scheme and has been implicated in an $810 million investment fraud. Ponzi schemes take their name from Charles Ponzi, who became notorious for his use […] -
Battle of Restructuring Industry Titans: Jay Alix v. McKinsey & Co.
Anyone who has been involved in litigation knows that it can be difficult, time-consuming, and expensive. It also can be contentious. Few pieces of bankruptcy-related litigation have reached the level of contentiousness seen in the recent disputes between two titans of the restructuring world—Jay Alix and McKinsey & Co. These disputes have arisen in multiple […] -
Is the Time Ripe for Lending to Marijuana-Related Businesses?
Of late, there has been a noticeable trend of decreasing risk-adjusted returns on commercial debt offerings, given the abundance of dry powder in the corporate finance industry and a dwindling number of attractive deals. In efforts to find greener pastures, a small number of financial institutions—almost exclusively nonregulated or specialty finance companies—have begun lending to […] -
Increasing Numbers of Colleges, Universities Are Failing to Make the Grade
The TMA Florida Chapter’s Winter Conference included a panel discussion of turnarounds in higher education, a sector where significant distress has occurred and is expected to continue over the next decade. As if to punctuate the point, shortly after the conference Argosy University abruptly closed the doors of its 22 locations throughout the U.S. Argosy […] -
Mill Rescued by a Paper-Thin Margin
The winners of TMA’s 2018 Turnaround of the Year Award: Mid-Size Company were recognized for the successful turnaround of Canadian Kraft Papers Industries Limited. They included Jeff Sands, CTP, a managing director with Dorset Partners; Brandon Ellement of Ellement Pensions, Benefits and Investments; Ron Prehogan, a partner with Brazeau Seller Law; and Tony Zandos and […] -
David A. Fiegel: Happy He Flew the Coop
Q: How did you gravitate into turnaround/restructuring work? FIEGEL: I fell into this business more than planned to be here. My education is in industrial engineering, and I found that I didn’t like that, so I was searching for something. Before that I was doing architectural lighting systems. I was designing nightclubs in the mid-1980s. […] -
TMA Talks: Building Your Professional Brand
Welcome to TMA Talks, a regular series of podcasts hosted by TMA Global CEO Scott Y. Stuart, Esq. Each segment features prominent TMA members, industry experts, and other special guests. These exchanges, edited transcripts of which are printed in the JCR, offer insights into key markets, forward-thinking economic outlooks, insider thoughts on industry trends, and much more. TMA Talks […] -
Milestones
Former Chapter President F. Matthew Jackson F. Matthew Jackson, a former president and longtime board member of the TMA Upstate New York Chapter, died March 23. He was 49. Jackson was a partner with the O’Connell and Aronowitz law firm in Albany. He leaves behind his wife of 23 years, Molly, and three children, Hannah, Devin, and […] -
Newcomers: May 2019
Alabama Richard M. Enger, AEA Group LLC Arizona Ty Blunt, WithEase Atlanta Kenneth P. Brockman Jr., Baker Tilly Michael Guelfo, Gordon Brothers Kyle W. Ulep, Prudential Capital Partners California – Northern Charles V. Greene Elizabeth Prehn, Moskowitz LLP California – Southern Keith Cox, FTI Consulting John DeMartino Christopher V. Hawkins, Sullivan Hill Nathan Wong, Gerber […]