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October 2014

Turnaround Management
Vol. 12 No. 7
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FEATURES

The Restructuring of Kodak: Bringing Two Well-Positioned Companies into Focus - From Eastman Kodak Company’s storied past to its struggles with market forces and Chapter 11, AlixPartners takes us inside how it played a pivotal role in restructuring and splitting apart an iconic company that stands as one of the most innovative, unusual and successful deals ever consummated in the history of cross-border insolvency.
Valuation Expertise: Necessary Chapter 11 Process Navigation - Managers of companies going through a Chapter 11 restructuring process need to juggle an extraordinary set of additional responsibilities, often requiring help from outside third party specialists to formulate a reorganization plan that facilitate a successful navigation through the bankruptcy court. Travis W. Harms and Sujan Rajbhandary provide expertise on the Chapter 11 reorganization process and emergence.
Auto Business Transformation: Going From Too Many to a Profitable Few - Jon Jensen, managing director at Gavin/Solmonese, gives an inside account on how his firm intervened on behalf of an automobile group facing bankruptcy, and affected a turnaround that encompassed closing weak stores and reducing corporate overhead to create a framework within which to operate the surviving businesses more profitably.
Long Haul to Profitability: How One Trucking Company Found Long-Term Viability in a Difficult Environment - The authors trace the arc of one U.S. trucking company from its struggles amid negative market forces through its restructuring and eventual rebirth as a profitable company, well-positioned for future growth.
Revisiting Old Guidelines: ABI Commission to Issue Chapter 11 Reform Recommendations - After nearly four decades since the U.S. Bankruptcy Code was passed, the American Bankruptcy Institute established a commission to revisit the guidelines that no longer fit in the current world of complex bankruptcy workouts and turnarounds. After discussions, field hearings and deliberations, the ABI Commission to Study the Reform of Chapter 11 plans to make its recommendations at the end of the year for a major overhaul.

COMPANY PROFILE: PROFILE OF SUCCESS

Navigating the Middle Market: Monroe Capital Gets the Unitranche Bump - In an increasingly complicated lending market, sometimes it pays to keep it simple. In an interview with Tom Aronson and Lee Stern of Monroe Capital, ABF Journal contributor Carol Clouse discusses the growing popularity of unitranche loans, which were first widely used during the height of the financial crisis.

FROM ALL FACETS

TURNAROUND CORNER

View From The Top: Turnaround Award Winner Reflects on Notable Assignments - The 2013 M&A Advisor’s Turnaround Consultant of the Year, Mesirow Financial Consulting President Larry Lattig, talks turnarounds, industry outlook and his good fortune at having a highly competent staff surrounding him.

SPECIALTY LENDING

Growing ABL in Oil and Gas: Financing the U.S. Energy Boom - Harry R. Novak, SVP and regional business development manager for First Capital, explores the importance of the oil and gas industry, and challenges faced by ABL lenders financing companies in this fast-growing area of the U.S. economy.

LEGAL LINES

Corporate Chapter 11 Bankruptcies: The Case for Venue Reform - Baker Donelson Attorney Susan Mathews makes a case for venue reform, explaining why corporate debtors should be accountable to local trade creditors, employees and communities and be required to file Chapter 11 at their home base.

FINAL CUT

FinalCut: JPMorgan, Wells to Finance Burger King/Tim Hortons Merger - ABF Journal illustrator Jerry Gonzalez provides his take on Wells Fargo and JPMorgan Chase’s commitment to provide a $9.5 billion debt financing package to support the recently announced Burger King/Tim Horton’s merger.

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