September 2016
More from this Issue
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TMA Global: Making It Personal
When we think about the impact of technology on our client interactions, we have been here before. With only a couple of minor tweaks to reflect advances in technology, a United Airlines television ad that debuted in 1989 could just as easily be run today. In the spot, a boss named Ben walks into a […] -
Life After Brexit: What’s Ahead for the U.K.’s Restructuring Industry?
Contrary to polls and the odds at the bookmakers, the U.K. in June voted to leave the European Union (EU). An avalanche of political change swiftly followed, resulting, as this is written, in a new Conservative prime minister, Theresa May, and a fight for the leadership of the Labour Party. The nature of the U.K.’s […] -
Milestones
Kirk Blair, a Deloitte Advisory partner with Deloitte Financial Advisory Services LLP, has been named Deloitte Advisory Corporate Restructuring Group leader, succeeding William Snyder, who has left the firm to pursue other ventures. In addition, Michael Epstein, a Deloitte Advisory principal with Deloitte Transactions and Business Analytics LLP, has been named Deloitte’s global managing director […] -
Peter L. Tourtellot, CTP
Former TMA Global President and Chairman Peter L. Tourtellot, CTP, a tireless advocate and leading voice for the development of high professional standards for the turnaround and restructuring industry, died in a Greensboro, North Carolina, hospital on July 16. He was 78. A founding board member of the TMA Carolinas Chapter and co-founder of Anderson, […] -
Indices Point to Increasing Distress in U.S. Economy
The Polsinelli|TrBK Chapter 11 Distress Research Index increased by nearly 8 points, to 52.68, in Q2 2016 versus the previous quarter and has now increased for five of the last six quarters. Compared with the same period one year ago, the index has risen nearly 15 points, or approximately 39 percent. However, compared to its […] -
Newcomers: September 2016
Alabama Hartwell K. Smith, Watts Realty Company Arizona Carl Cunningham, Surplus Asset Management | SAM Auctions Robert J. Itkin, Simon Consulting LLC Norman R. Lemus, UBS Anton Orlich, Pivotal Group Inc. Atlanta Lori Alsterberg, Bibby Financial Services (Midwest) Inc. Tyler Backus, FTI Consulting Ben Nicholson, Fortis Business Advisors California – Northern Samantha Marks, Wells Fargo Capital Finance Jessica G. McKinlay, Dorsey […] -
Family-Owned Meat Processor Escapes ‘Inevitable’ Bankruptcy
A third-generation, $20 million meat processing company was struggling in mid-2012. It had virtually no liquidity and was overleveraged, cash-flow negative, and in default with its senior lender. By any stretch of the imagination, it looked like bankruptcy was inevitable. Yet the company didn’t file and not only survived but has also thrived. A unique, entirely […] -
Failing to Protect Security Interests in Australia Can Be Costly
The recent New South Wales Supreme Court decision in Forge Group Power Pty Limited (in liquidation)(receivers and managers appointed) v. General Electric International Inc. [2016] NSWSC 52 clarifies two key issues concerning the scope of Australia’s Personal Property Securities Act 2009 (Cth) and its application to leases: What constitutes “regularly engaged in the business of […] -
Canadian Regulator Adds More Uncertainty to Oil & Gas Market
In Redwater Energy Corporation (Re), the Court of Queen’s Bench of Alberta held that certain sections of the Oil and Gas Conservation Act (Alberta) and Pipeline Act (Alberta) are inoperative to the extent that they are used by the Alberta Energy Regulator (AER) to prevent the abandonment or renunciation of an insolvent debtor’s assets by […] -
Oren Klein: Pot Luck
Oren Klein is a managing partner and cofounder of AuctionAdvisors in Montclair, New Jersey. With more than 16 years of auction experience, he is responsible for auction sales and client management throughout the United States. Before entering the traditional auction business, Klein was a partner at a real estate investment brokerage company, where he concentrated […]