The last several years have yielded some interesting, and not always pleasant, surprises for private equity sponsors and restructuring professionals looking to pursue out-of-court restructurings in the face of significant financial constraints. Challenges to asset transfers, debt exchanges, and...
Troubled companies often perceive bankruptcy as the only way to address their problems. However, savvy insolvency professionals know that alternatives, such as Uniform Commercial Code (UCC) Article 9 sales, assignments for the benefit of creditors (ABCs), compositions, and statutory dissolutions,...
A third-generation, $20 million meat processing company was struggling in mid-2012. It had virtually no liquidity and was overleveraged, cash-flow negative, and in default with its senior lender. By any stretch of the imagination, it looked like bankruptcy was inevitable. Yet the company didn’t...
Restructuring a city, school district, county, or other public sector body presents unique challenges that turnaround professionals likely haven’t encountered in the private sector. While many of the same turnaround principles apply, the environment is different and thus the approach taken must...
