Facebook Twitter LinkedIn Email Share

Semi-Annual Newsletter - The Turnaround Report - January 2023


J A N U A R Y – 2 0 2 3



Welcome back to the fourth edition of TMA NYC’s semi-annual newsletter, The Turnaround Report. The Marketing & Communications Committee of TMA NYC has worked to produce an accessible platform for all TMA members and our colleagues to share their achievements, provide educational and newsworthy content, and gain valuable visibility in the restructuring community. As we head into 2023, we wish you all a happy, healthy and BUSY New Year!





Sneak Peek of Curated Content


Each newsletter features content submitted by the TMA NYC community and curated by our team of editors. Make sure to check out the entire newsletter.


Case Study – SLANG Worldwide, Inc.

By Drew McManigle, Macco Group


SLANG Worldwide, Inc. (SLANG) is a publicly traded (CNSX: SLNG) (OTCQB: SLGWF) cannabis consumer packaged goods company with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in fifteen legal cannabis markets nationwide, specializing in acquiring and developing market-proven regional brands, as well as launching innovative new brands… READ MORE


Strategies to Get Customers/Clients to Pay Invoices Faster

By David Culotta, Capstone

Do you want to improve your invoice collection process and get paid quicker? Small and medium-sized businesses depend on prompt payment from their customers/clients to support their working capital and cash flow needs. They oftentimes lack the proper tools to effectively manage their accounts receivable which makes collecting on outstanding invoices difficult… READ MORE


Breach of Contract and Implied Covenant of Good Faith Claims Survive Motion To Dismiss in Boardriders Uptier Exchange Dispute

By Michael Goldstein, Howard Steel, Alexander Nicas, James Lathrop, Goodwin Procter LLP

Lenders seeking to challenge controversial, often punitive, liability management transactions scored a recent win in Boardriders. The transaction at issue, a priming uptier exchange transaction favoring certain participating lenders at the expense of non-participating lenders… READ MORE





The first 5 responses with all 4 correct answers will win a $50 gift card. Answers and Winners will be announced via LinkedIn the week of January 30th.


How long is an Olympic swimming pool (in meters)?

  • 100
  • 45.72
  • 50
  • 110

What punctuation mark ends an imperative sentence?

  • A question mark
  • A period
  • An exclamation point
  • A period or an exclamation point

Which animal can be seen on the Porsche logo?

  • Horse
  • Dog
  • Zebra
  • Eagle

Who is the only Baseball Player to win the World Series MVP on a losing team and what team did he play for and what year?

  • Bobby Richardson, N.Y. Yankees, 1960 
  • Ty Cobb, Detroit Tigers, 1907
  • Jack Morris, Minnesota Twins, 1991 
  • Matt Harvey, N.Y. Mets, 2015



Meet the Editors


Brett Theisen, Gibbons P.C.

Lauren O’Leary, Chiron Financial LLC

Pat Siciliano, STA International

Howard Steel, Goodwin Procter LLP


Read the Past Editions


EDITION 1 | A U G U S T — 2 0 2 1 READ NOW ▶


EDITION 2 | J A N U A R Y — 2 0 2 2 READ NOW ▶


EDITION 3 | J U L Y — 2 0 2 2 READ NOW ▶