Restructuring

The CARES Act: Savior or Continuing Curse?

During the summer of 2021, the United States began to tentatively emerge from the COVID-19 pandemic, a dynamic that was supported thanks to hospitals nationwide benefiting from payments received in accordance with the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As of April 2021, an...

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Healthcare

Restructuring

As Global Crisis Unfolds, TMA Membership Is a Necessity

Understanding, and Managing Through, Disruption

As we start to see the light of a post-pandemic world, we continue to navigate the choppy waters of certain uncertainty. The articles on healthcare in this issue of the JCR highlight much about a troubled sector and address issues related to what is on the horizon for the restructuring community...

Healthcare in the New Normal

Last year, when I sat down to write the guest editor’s column for the 2020 healthcare issue, we were reeling from a pandemic that not only was straining our already overtaxed healthcare system but also exacerbating the socio-political fissures that have dominated headlines, created misinformation,...

Getting It in Gear: Alan J. Brody

Q: How did you gravitate into turnaround/restructuring work? Brody: I graduated from the University of Delaware with a degree in accounting and immediately joined the audit department of a large accounting firm. At that point, I was fascinated with the various economic and operational issues faced...

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Restructuring

Adding DE&I to the Turnaround Toolkit

At the core, the overarching goal of every turnaround or corporate restructuring, whether in or out of court, is to maximize enterprise value. When determining how best to accomplish that objective, enterprise leaders, together with their advisors, evaluate a variety of operational, legal, and...

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Diversity, Equity & Inclusion

Restructuring

Smooth Landing for Norwegian Air Group in Irish High Court Cross-Border Restructuring

On 26 May 2021, the Norwegian Air Group successfully completed its global restructuring, which began in the Irish High Court on 18 November 2020. At the commencement of the restructuring, the group was one of the largest low-cost airline carriers in Europe and among the 10 largest in the world. It...

The Impact of COVID-19 on Cayman Islands Restructurings

The long-term global impact of the COVID-19 pandemic will be far-reaching. It has already led to a significant drop in economic activity across the world, with certain industries, such as aviation, retail, hospitality, and tourism, being particularly affected. The Cayman Islands is home to one of...

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Geography

Restructuring

The Impact of COVID-19 on Restructurings in Singapore, Hong Kong, and China

In the wake of the novel coronavirus (COVID-19), there has been significant disruption to the global economy. With lockdowns implemented, demand for goods and services has dropped drastically, and production and provision of services have slowed. Social distancing measures and travel restrictions...

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Geography

Restructuring

Pandemic Fallout Fuels Growing Use of UK’s New Restructuring Plan

A week is often described as a long time in politics, and so also, it seems, in the restructuring market. In May, one week alone saw significant strides forward with: The judgment of Mr Justice Snowden in Virgin Active —the first contested showdown of the new Restructuring Plan, pitting the power...

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Geography

Restructuring

Germany Offered Swift and Effective Pandemic First Aid

From an economic perspective, Germany has weathered the pandemic quite well until now—at least if success is measured in low unemployment and insolvency figures. How that was achieved, what changes were made to the German legal restructuring framework, and what may follow after the national...

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Geography

Restructuring