2020 Bankruptcy Trends:  A Year in Review
After years of relatively few filings, the number of bankruptcy cases started to gradually tick upward in 2019. Despite unprecedented economic growth since the Great Recession, many investors and professionals had been anticipating a downturn, but it is fair to say that “global pandemic” was on...
Bankruptcy Claims Trading Is Fraught
In the good old pre-pandemic days, buying administrative trade claims in bankruptcy cases was like shooting fish in a barrel—it was easy, it was profitable, and investors’ greatest concern was not whether they would be paid 100% but rather when they would be paid. Not any longer. After recent...
Getting Distressed Healthcare Industry Deals
When retained to market the sale of a distressed senior housing community, life plan community (formerly known as a continuing care retirement community, or CCRC), and/or skilled nursing facility, a reputable advisory firm takes steps to preserve value for the client and capture the maximum pricing...
Why Distressed Debt Investors Should Look to the Hotel Industry
The economic downturn in 2020 has presented both opportunities and challenges in the distressed debt investing industry. The multitude of defaults and forbearances and the general decrease in business for hotels should catch the attention of distressed debt buyers looking for new opportunities to...
Diamonds in the Rough
The energy industry is ripe with opportunities for cash-rich buyers to purchase distressed assets at bargain prices. Several strategies exist for a buyer to reduce its risks while acquiring assets at deep discounts, including the ability to participate in a Section 363 sale process as a credit...
Leveraging Market Uncertainty
There is necessarily a tension that exists in any financial restructuring, and this is particularly so in the current environment considering that: 1. Creditors want both to (a) avoid an immediate write-down, particularly if they believe the business may rebound in the near- to mid-term, and (b)...
TMA Awards
TMA honors excellence through its annual awards program, which recognizes achievements in the categories listed in this issue, plus more. The following awards were presented at IMPACT 2020, which was held virtually September 29–October 1. Mega Company Turnaround – Essar Steel India Essar Steel...
Cover Image : Employee Culture
Peter Drucker famously stated, “Culture eats strategy for breakfast.” Strategies are like sand slipping between a CEO’s fingers in the economic roller coaster of 2020, where a pandemic, massive government stimulus, upheaval of work and home life, and restrictions on travel have changed how business...
Cover Image: Views from the Bankruptcy Bench
The COVID-19 pandemic has brought about dramatic economic and social change in the world, most particularly in human behavior, due largely to concerns about the threat to human health. The restructuring community has been no less affected, and U.S. Bankruptcy Courts have not escaped the wave of...
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Rent has presented a complicated puzzle during the pandemic for numerous landlords and tenants, and the solutions—inside and outside of Chapter 11—have been unconventional. As foot traffic evaporated due to restrictions prompted by health and safety regulations, and revenue fell precipitously as...