Economic uncertainty has traditionally been good for turnaround professionals. But the game has changed, and unregulated lenders can call a different tune. Howard Brod Brownstein looks into his crystal ball and predicts a mixed bag for turnaround pros under the new administration.
The Philadelphia Credit and Restructuring Summit celebrated its 10th anniversary by moving to a new location and adding a panel of women executives to the lineup. Lenders, turnaround professionals and bankruptcy judges enjoyed a round of Judicial Jeopardy before discussing serious matters ranging from possible federal tariffs on foreign goods to the ramifications of the Supreme Court’s ruling on structured dismissals in bankruptcy.
As the U.S. system of restructuring and insolvency gains popularity in Australia and beyond, Carlyn Taylor, global co-leader of the Corporate Finance & Restructuring segment of FTI Consulting, provides her perspective on this growing trend in a Q&A that originally appeared in the FTI Journal.
In an excerpt from their book, Transformation: Delivering and Sustaining Breakthrough Performance, Boston Consulting Group’s Lars Fæste, Jochen Schoenfelder, Christian Brub and Christoph Lay discuss the essential steps needed to create a transformational turnaround and restructuring effort.
In the early stages, corporate turnarounds can resemble a hospital emergency room, according to Malcolm McKenzie. Performing triage may be the only way to save the patient. He offers eight practical tips to execute a successful turnaround.
Even lenders who exercise the most thorough due diligence sometimes have to exit their loans. Turnaround specialist Ken Mann offers tips to help lenders make smart decisions in 2017.
A strong sense of right and wrong is critical to restructuring a company in a way that benefits all stakeholders. Yet turnaround professional Robert Katz sees “shades of gray” becoming more prevalent and having a negative impact on the industry. He shares examples of these unsavory situations and points out ethical paths to avoid them.
Vol. 14, No. 6
Traditionally, lenders and turnaround professionals have worked in tandem to assure a positive outcome for the lender and the borrower. But since the onset of the Great Recession, that relationship has undergone many changes. Veteran turnaround professional and ABF Journal Contributing Editor Howard Brownstein shares some observations on this changing relationship.
Many small- and medium-sized businesses fail to succeed in restructuring through Chapter 11 because of the expense and lack of manpower. Stephen Selbst provides a step-by-step guide to preparing for Chapter 11 that will help companies control the process and produce a successful outcome.