In October 2018, Quintis Limited, with some 13,000 hectares (32,110 acres) of sandalwood to grow and harvest in Australia, completed a recapitalisation of its business and restructuring of the group balance sheet and debt instruments. The restructure design utilised Australian voluntary...
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 The 2018 TMA Annual in Colorado Springs, CO, on September 27. TURNAROUNDS AND TRANSACTIONS OF THE YEAR Transaction of the...
“Use the right tool for the job.” Learn from some of the best technicians in the industry the tools of the turnaround trade: from cashflow, appraisal, and historical financial tools to liquidation and wind down tools.
Opportunity abounds for TMA practitioners despite a bankruptcy-lite economy. Industries challenged by disruption or new competition are creating turnaround opportunity. After companies’ balance sheets are financially restructured, operations still need fixing....
A troubled company often reflexively perceives a bankruptcy filing as the prototype solution to its financial distress. Bankruptcy is an important and powerful tool to address insolvency—providing for an automatic stay, the sale of assets free and clear, confirmation of a plan over the objection of...
In my role as a guest editor of the JCR over the past couple of years, I have asked authors to focus on topics related to the energy business from the perspectives of both the investor and the turnaround professional. This year we have shifted to a survey format covering a broad range of topics...
It is almost a cliché in business circles that the numbers of formal insolvencies start to increase when an economy is coming out of recession. However, since the 2008 financial crash, the numbers of formal insolvencies have been declining. Initially, perhaps, this was because many companies were...
Although most police officers are honest, hardworking, and dedicated to serving their communities, highly publicized incidents of police misconduct ranging from the use of excessive physical force to the shooting of unarmed civilians spotlight deteriorating police/community relationships in small...
Many bankruptcy attorneys, financial advisors, and investment bankers who work in the distressed business industry believe that when interest rates increase to more historic levels the industry will enjoy a much-needed resurgence after five years of depressed engagement volume and fees. Clearly the...
When underperforming and distressed companies require the intervention of turnaround executives, they often need to develop and implement a new strategic plan. At the most fundamental level, the plan’s success depends on changing employee behaviors. Attaining employee adoption of a plan is commonly...
