December 2023
Adapt and Thrive
Feature Article
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Forget Low-Hanging Fruit—Sell the Whole Tree! Monetizing Intangible Assets in Bankruptcy at Minimum Cost
When a trustee is charged with administering a bankruptcy where the estate’s only valuable assets are avoidance actions, the trustee or their counsel are often required to take on the avoidance actions without a guarantee of recovery or payment. In other words, the trustee and their counsel first pursue the low-hanging fruit—that is, the most […]
More from this Issue
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Richard Thalheimer’s Intro to Intangible Assets
During my senior year at Highland Park High School in north suburban Chicago, I worked as a floor salesman at S. Mitnick Sharper Image retail store at a local mall. Every Tuesday and Thursday afternoon, I’d subject myself to Richard Thalheimer’s (Sharper Image’s founder) droning and recorded enthusiasm, on repeat, for the Ionic Breeze and […] -
Empowering Ourselves Through Member Value
As we come to the end of 2023, and look ahead to the new year, there is much to be proud of in TMA Nation. This year was special indeed—it was a period where member value took on a whole new meaning and the worldwide brand power of TMA continued to shine. In 2023, a […] -
A Year of Accomplishments & a Bright Future
As we approach the end of another eventful year, I am filled with an overwhelming sense of pride and gratitude for the remarkable success that our members, leaders, and the TMA staff achieved this year. Our collective efforts have not only enhanced the industry with new benchmarks, standards, and measurements, but we also paved the […] -
Forget Low-Hanging Fruit—Sell the Whole Tree! Monetizing Intangible Assets in Bankruptcy at Minimum Cost
When a trustee is charged with administering a bankruptcy where the estate’s only valuable assets are avoidance actions, the trustee or their counsel are often required to take on the avoidance actions without a guarantee of recovery or payment. In other words, the trustee and their counsel first pursue the low-hanging fruit—that is, the most […] -
Creative Solutions to Difficult Problems Accessing Value Through Litigation Claims
A distressed company’s most valuable assets are often intangible. But when tallying up goodwill and intellectual property, managers of a distressed company and their professionals should not overlook another intangible asset with high value potential: its litigation claims. Those claims, after all, may arise from the same facts that caused the distress. Claims, however, don’t have […] -
Completing the Puzzle: Tips to Piece Together Intangible Assets & Maximize Value in a Sale
Intangible assets—including trademarks, patent portfolios, software, data, domain names, and social media assets—are often the crown jewels of a company. Laying the groundwork in anticipation of a sale of these assets requires a keen understanding of how the customer or market has previously interacted with them and which assets enhance which element of the value […] -
Privacy and Security Best Practices in M&A Transactions
As new privacy laws become effective across the United States, it is more important than ever to consider data privacy and cybersecurity as a key issue in any M&A transaction, including a sale under section 363 of the Bankruptcy Code. While certain industries such as technology and health care may be more susceptible to privacy […] -
Purchasing Remnant Assets: Like a Box of Chocolates, You Never Know What You’re Going to Get
Investors searching for opportunities have often looked into purchasing distressed assets from bankruptcy estates. While such an investment is not without risk, it could provide a healthy return on investment and a benefit to a debtor’s bankruptcy estate and its creditors. While virtually anything can be purchased from an insolvent estate, this article will explore […] -
The Information Economy: Knowing What’s Public in Chapter 11
Companies in Chapter 11 must publicly report substantial financial information. Stakeholders should be familiar with what information must be publicly reported or disclosed under securities laws, the Bankruptcy Code, and Bankruptcy Rules. It’s also crucial for turnaround and restructuring professionals to have a grasp on what debtors may do to try to minimize public reporting […] -
Living with Passion
How did you gravitate toward turnaround/restructuring work? Sharon Manewitz: I received my degree in art history and design from Hunter College in New York and truly wanted a career in design, but I never quite got there. I married my husband of 53 years the day after I graduated and needed to work while he […] -
Newcomers: December 2023
Alabama Michael Strickland Gary Murphey, Resurgence Financial Services LLC John Herrero, STORE Capital Noelia Caceres Atlanta Walter Simmons, The Keystone Group Central Texas Ella Cornwall Jared Graves, Forvis LLP Mary Elizabeth Heard Chesapeake Tyler Davis Chicago/Midwest John Homsher, Colliers International Jake Prizant, Hilco Global Shiv Patel, Harney Partners Tania Gil Garibay, AlixPartners Joshua M. Altman, […]
Snapshot Article
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