Field examiners play a crucial role in a workout by analyzing a company’s working capital to identify collateral shortfalls. During these unprecedented times, the need for early detection and intervention is crucial. While field examiners' primary focus is evaluating the collateral base, they...
What would it look like if regulation came to the unregulated? Would that put an end to banks efficiently offloading their distress? Paycheck Protection Program (PPP) funding, other government bailout money, and private equity (PE) money...
What are the takeaways from recent litigation? How do minority lenders protect themselves? Does increased restructuring activity change the lender approach? These topics, and more, will be discussed with a panel of experts.
Q: You have an interesting background for someone in this field. What were you doing before gravitating into turnaround and restructuring work? Baxter-Labut: I was a customs and immigration officer for seven years with the Canada Border Services Agency (CBSA). Q: How did that come about? Baxter-...
As the pandemic headwinds continue to buffet the economy and the spectre of spiralling energy costs and long-term inflation looms large, businesses that were once riding high now risk being deflected off course just at the time when they are trying to navigate their emergence. With near-term...
The concept and benefits of providing debtor-in-possession (DIP) financing under Bankruptcy Code Section 364 are not new. But because DIP financing negotiations are often conducted on a compressed timeline and can be both complex and laborious, this article serves as both a primer and refresher for...
The well-known pop song “Blurred Lines” is about the conflict between societies’ desire for more and the desire to respect boundaries. The song could be describing the current state of affairs between and among investment banks, on the one hand, and, on the other, turnaround firms and accounting...
Over the past two years, distressed investing has been, well, distressed. Fewer opportunities have been available for distressed lenders outside of industries directly impacted by COVID, such as hospitality. New Federal Deposit Insurance Corporation (FDIC) rules have allowed banks more leeway to...
As Europe prepared to emerge from the COVID-19 pandemic and navigate the resultant uncertain economic environment, Russia invaded Ukraine in February 2022, plunging the continent into disarray once again. The unprecedented pandemic followed on the heels of Brexit, which itself will have lasting...
The distressed market arguably always has a relatively small share of global capital markets. (Canada’s last recession, for instance, was in 2008-2009.) But in this recent environment characterized by strong M&A activity and easy access to debt and equity capital over the past five years or so...
