In today’s economic climate, insolvency practitioners must be diligent in preserving an estate’s assets and creative in identifying unrealized value. Insolvent entities occasionally have claims that, if properly resourced and advanced, could yield value for creditors and other stakeholders. However...
The UK left the European Union on 31 January 2020. The transitional period, during which EU law continued to apply to the UK and the UK was, in many respects, still treated as an EU member state, ended at 11 p.m. on 31 December 2020 (IPCD). At the 11th hour, the EU and the UK agreed to terms of a...
On March 13, 2020, the president officially declared the COVID-19 pandemic a national emergency. In a matter of weeks, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) as its initial legislative response to combat the economic fallout from the deadly virus. Exactly...
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...
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...
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...
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...
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...
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 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...
