Corporations cannot afford to treat fraud as an uncontrollable act perpetuated on them. The risks and problems associated with fraud are on the rise, while the financial consequences of ineffective fraud controls are proving to be increasingly damaging. There is no doubt that fraud awareness is...
Women in restructuring represent a growing and ever-important part of our professional community worldwide, and we at TMA are ever-proud of these members’ accomplishments. As we approach our TMA NOW Summit, one of most engaged and connected conferences of the year, I wanted to share one of the most...
As I understand the vision of TMA’s founders over 30 years ago, they were building a community of like-minded professionals who were focused on corporate renewal and rehabilitation, not simply bankruptcy and liquidation. They envisioned a community which facilitated knowledge sharing, established...
The Kraft Heinz Co. owns 60 percent of the ketchup market in the United States and 80 percent of that market in Europe. As of 2014, 97 percent of American households had ketchup on hand, and most of that was Heinz. When people think of ketchup, they think of Heinz. Kraft Heinz also is home to other...
DC Solar Solutions Inc. described itself as a designer, manufacturer, and lessor of renewable energy products. More recently, though, it has been described in court documents as a massive Ponzi scheme and has been implicated in an $810 million investment fraud. Ponzi schemes take their name from...
Anyone who has been involved in litigation knows that it can be difficult, time-consuming, and expensive. It also can be contentious. Few pieces of bankruptcy-related litigation have reached the level of contentiousness seen in the recent disputes between two titans of the restructuring world—Jay...
Of late, there has been a noticeable trend of decreasing risk-adjusted returns on commercial debt offerings, given the abundance of dry powder in the corporate finance industry and a dwindling number of attractive deals. In efforts to find greener pastures, a small number of financial institutions—...
The TMA Florida Chapter’s Winter Conference included a panel discussion of turnarounds in higher education, a sector where significant distress has occurred and is expected to continue over the next decade. As if to punctuate the point, shortly after the conference Argosy University abruptly closed...
The winners of TMA’s 2018 Turnaround of the Year Award: Mid-Size Company were recognized for the successful turnaround of Canadian Kraft Papers Industries Limited. They included Jeff Sands, CTP, a managing director with Dorset Partners; Brandon Ellement of Ellement Pensions, Benefits and...
Q: How did you gravitate into turnaround/restructuring work? FIEGEL: I fell into this business more than planned to be here. My education is in industrial engineering, and I found that I didn’t like that, so I was searching for something. Before that I was doing architectural lighting systems. I...
