September 2019
Feature Article
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Global Trade Issues Reverberate Through the U.S. Economy
Pressing global issues currently affecting U.S. businesses will likely affect the restructuring insolvency community in the coming year. Oil disputes in the Middle East; uncertainty around Brexit in the U.K.; distress in the European banking system; trade stalemates between the U.S. and China, India, Japan, and Europe; and the ongoing crisis at the Mexican border […]
More from this Issue
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The Evolution of Private Capital Markets and Restructuring Dynamics
With the exception of certain out-of-favor industries, such as retail and oil & gas, the pace of restructuring activity has been relatively slow over the last five years. Partially as a result, market participants have continued to anticipate potential catalysts for an imminent recession, including a slowdown in economic activity, a capital markets correction, or […] -
From Opportunity to Impact
A year ago, I walked through the doors of TMA headquarters in Chicago and started an unbelievable journey, one wrought with challenges to overcome, opportunities to create, and the foundation of what would become the year of opportunity. As I move into my second year as TMA CEO, I wanted to highlight what we have achieved […] -
TMA Annual Conference Will Rock the House
Months of thoughtful planning and diligent effort by volunteers and TMA Global staff are about to pay enormous dividends with The 2019 TMA Annual, September 25-27, at the Hilton Cleveland Downtown. Featuring outstanding education sessions and a variety of social events intended to help you build and strengthen relationships that lead to meaningful networking and […] -
Global Trade Issues Reverberate Through the U.S. Economy
Pressing global issues currently affecting U.S. businesses will likely affect the restructuring insolvency community in the coming year. Oil disputes in the Middle East; uncertainty around Brexit in the U.K.; distress in the European banking system; trade stalemates between the U.S. and China, India, Japan, and Europe; and the ongoing crisis at the Mexican border […] -
Closer Look at Private M&A Reveals Increasing Risk of Ownership Distress
To many, private M&A seems healthy and offers little cause for concern. A surface review reveals a record number of transactions and easy liquidity. A deeper look uncovers cause for concern, however; aggressive underwriting and elevated leverage held by nontraditional lenders underpin many transactions, which may portend future challenges. This article focuses upon one such […] -
Recent Evolutions in Distressed Lending for Restructurings
Distressed lending is a financing opportunity that comes from working with a company that is in the process of a restructuring. With today’s competitive landscape and the availability of capital, leverage levels and EBITDA addbacks are at all-time highs, and the thoroughness of due diligence is at an all-time low. These facts alone will likely […] -
Creditors Increasingly Willing to Seize Company Control
A person can lose all voting rights to his or her company in the blink of an eye. For many years, there was a palpable reluctance in the financial world to exercise foreclosure rights over equity-based collateral. After all, while it may be one thing to demand payment, it is another thing entirely to own an […] -
Purchase Order Financing: A Turnaround Tool for Companies Selling to Retailers
Any commercial finance executive today is sure to have a real-world example or anecdote about the many ways e-commerce has reshaped the retail sector and subsequently impacted his or her clients. Though generally healthy, the retail sector seems to be in a constant state of disruption, with shifting consumer behaviors dictating business strategy and ultimately […] -
The Magic of Music: Richard J. Szekelyi
Q: How did you gravitate into turnaround/restructuring work? SZEKELYI: I didn’t have this as a career path. It just emerged. That said, much of what I did before that was very helpful, from my time in commercial banking to private equity. The most helpful thing was having the opportunity to runsome companies as the president or CEO. […] -
TMA Talks: What the Z-Score Says About Risk of Default Today
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
Tensie Axton has joined the Turnaround & Restructuring Services practice of FTI Consulting Inc. as a senior managing director based in Houston. She has more than 30 years of experience serving as a strategic, financial, and transaction advisor; has created and led healthcare shared services organizations; and implemented multiple billing systems and managed revenue cycle […] -
Newcomers: September 2019
Alabama Michael C. Stone, Porter White & Company Inc. Arizona Robert Dotson Spencer W. Smith, Resolute Commercial Services Matthew I. Snowden, Talanton Insurance Tympra Stein, MidFirst Bank Atlanta Lawrence Artman, Prestige Capital Corporation Nicholas Haughey, Alvarez & Marsal Eric Strese California – Northern Stuart R. Barden, Lateral Investment Management William R. Brinkman, Jigsaw Advisors LLC David J. Raygoza, PNC […]
Snapshot Article
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