October 2019
Feature Article
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As ‘Expedited’ Prepacks Gain Speed, How Can Companies Jump on Board?
When restructuring a business is necessary, the company and its professionals evaluate options and look for the best and most efficient path forward. This path often leads to a restructuring under the auspices of Chapter 11 of the U.S. Bankruptcy Code. Like any restructuring option, Chapter 11 bankruptcy has certain unavoidable costs. In addition to […]
More from this Issue
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The Accelerated Chapter 11: Be Careful What You Ask For?
Almost since the inception of the U.S. Bankruptcy Code in 1978, many parties in the bankruptcy process have espoused the virtues of speed in accomplishing the desired goals. Certain amendments to the Bankruptcy Code have fostered this desire for speed. But has the pendulum swung too far? Are we sacrificing the benefits of the bankruptcy […] -
Better Together
Better together. That’s what this TMA boasts and how we message to support the growth of our organization. Better together. It is the power of people coming together because of trusted relationships built over time to create professional opportunity, capitalizing on the professional diversity of TMA to bring together professionals who work together and get […] -
Looking Back, Moving Forward
From speaking to several TMA members recently, many feel that this year has flown by particularly quickly. Whether that perception is influenced by an increase in our restructuring activity or melancholy associated with the impending winter, I nonetheless agree with the observation. For me, my term this year as TMA Global chair has gone by […] -
As ‘Expedited’ Prepacks Gain Speed, How Can Companies Jump on Board?
When restructuring a business is necessary, the company and its professionals evaluate options and look for the best and most efficient path forward. This path often leads to a restructuring under the auspices of Chapter 11 of the U.S. Bankruptcy Code. Like any restructuring option, Chapter 11 bankruptcy has certain unavoidable costs. In addition to […] -
Riding the Express Lane Through Bankruptcy
When a company is on the bankruptcy highway, one of the goals is to exit as quickly and smoothly as possible, leaving the uncertainty of the process behind and putting all of management’s time into optimizing the business. It’s no wonder, then, that two recent ultrafast bankruptcy cases have caught the attention of the U.S. […] -
Avoiding Perceptions of a Real Estate Fire Sale During A Fast-Track Process
Lenders often favor putting a restructuring process on the fast track. However, in situations involving real estate, it is important to balance the need for speed with the potential risk of signaling to buyers that the disposition is, in effect, a fire sale. Asset value depends on marketplace perception. If an auction turns up zero […] -
Creative Asset Specialists Can Help Retailers Achieve Rapid Restructurings
When Kmart was first faced with bankruptcy in February 2002, its leadership was committed to addressing its operational challenges in an aggressive manner. The team enacted a “fast-track emergence” plan, with the goal of exiting bankruptcy by July 2003. Today’s retail restructuring environment holds debtors to a much tighter timetable. For example, starting in September […] -
2nd Circuit Cases Highlight Ongoing Debate Over Nonconsensual Third-Party Releases
Chapter 11 offers debtors and debtors in possession numerous protections and benefits, including, perhaps most significantly, the concept of a “fresh start” for individuals and entities that submit to the process. Pursuant to Section 1141(d)(1) of the U.S. Bankruptcy Code, when a Chapter 11 plan of reorganization or liquidation is confirmed, a debtor is discharged from any debt […] -
Momentive Cramdown Ruling Breathes Life into Lender Playbook
On April 19, 2019, Bankruptcy Judge Robert D. Drain of the Southern District of New York announced his much-anticipated ruling determining the appropriate rate of interest on the replacement notes issued under Momentive’s Chapter 11 plan. The ruling culminated a cramdown contest that had weaved its way through the appeals process, all the way up […] -
Complacency Is the Enemy of Cost Optimization in Technology Contracts
In a world where technology is constantly and rapidly changing and companies’ technology budgets are rising, it is as critical as ever for companies to be vigilant in their review of their technology contracts. As technology costs represent 2% to 7% of a company’s revenue, according to a 2016-17 Global CIO Survey conducted by Deloitte, […] -
A Happy Camper: Jillian Nolan Snider
Shareholder, Tucker Arensberg Attorneys | TMA Member: Two years Q: How did you gravitate into turnaround and restructuring work? SNIDER: It was just by chance. I graduated from law school in 2005. My undergrad education was in Hispanic language and culture, and I also studied French and Portuguese. I had dreams of becoming an international lawyer, but […] -
TMA Talks: Early Signs of Change Precede Signs of Distress
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
CohnReznick LLP has added eight industry veterans to its Restructuring & Dispute Resolution practice. The senior members of the group are an established and integrated team joining the firm to expand and enhance debtor, creditor, and fiduciary services across key industries, including financial services, healthcare, manufacturing, technology, and not-for-profit. Cynthia Romano, CTP, a principal, joins […] -
Newcomers: October 2019
Alabama James Shaddix II Arizona David Gonzales, CFG Investment Bank Shane Luke Atlanta Kimberly Miller, Miller & Martin PLLC Matthew A. Petrie, Greenberg Traurig LLP Ashley Ray, Scroggins & Williamson Harrison J. Roberts, Parker Hudson Rainer & Dobbs LLP California – Northern Thomas F. Finnigan IV, White Oak Global Advisors LLC Paul G. Seitz, Monroe Capital LLC California […]
Snapshot Article
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