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March 2016

Bankruptcy
Vol. 14 No. 2
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COVER STORY

Energy In Crisis: Big Oil in Freefall With No End in Sight - For the second year in a row, Energy and Resources has topped AlixPartners’ Survey of “Sectors Most Likely to Face Distress.” How did Big Oil fall from its perch as a dominant industry? AlixPartners’ Managing Director John Castellano spoke with ABF Journal to share insights on the changing oil market and how these changes will impact ABL lenders.

FEATURES

The Ten Commandments of Chapter 11: Thou Shalt Invite Failure by Ignoring These Rules - Using the pages of the ABF Journal in place of two tablets of stone, Attorney Rocco Debitetto hands down the Ten Commandments of Chapter 11.
RadioShack Dissected: The Decline, Fall and Possible Rebirth - For 95 years, do-it-yourselfers looked to RadioShack for parts, products and advice. Like many brick-and-mortar retailers, RadioShack has suffered from changes in customer behavior and retreated to Chapter 11 to restructure. Attorney Stephen Selbst provides an in-depth look at the missteps that sent RadioShack into bankruptcy.
The Rollercoaster Effect: Will Bankruptcies Tick Up in 2016 After the 2015 Decline? - Since the reform of the Bankruptcy Code in 2005, the number of cases filed has fallen. Samuel Gerdano and Ed Flynn of the American Bankruptcy Institute look at the total picture and predict the general number of filings will continue to fall, except for Chapter 11.
Fintech Meets Tradition: JPMorgan & OnDeck Team Up to Create a New Lending Product - Fintech lender OnDeck has provided $3 billion in small business loans in eight years. Now the company is developing a new online product for banking giant JPMorgan Chase. Business lending is moving into the 21st century, and other banks are also dipping a toe in the fintech water.
The Facts About Factoring: How CIT Commercial and Its New President, Marc Heller, Have Evolved - Last January CIT Commercial Services named industry veteran Marc Heller president of the division, succeeding Jon Lucas. Heller responds to ABF Journal’s questions, provides insights into his personal experiences in factoring and offers some history of the industry and a look ahead.
Jon Lucas Looks Back At a Satisfying Career - Jon Lucas talks with ABF Journal about his time with CIT and the career in the commercial finance industry.

TURNAROUND CORNER

The Volatile Energy Industry: Restructuring to Survive - As the price of oil continues its downward spiral, energy companies need to retrench and retract. Monty Kehl and Dennis Ulak of Huron Business Advisory provide a road map for survival.

SPECIALTY LENDING

From Brick-and-Mortar to E-Commerce: Commercial Finance’s Evolving Role in Retail - Retail sales are moving from brick-and-mortar to the Internet. Opportunities still abound for commercial finance consultants, but Donald Barrick points out there are obstacles to be avoided in this new environment.

LEGAL LINES

Claims Trading Warps the Bankruptcy System Honest Debtors Are Hampered by “Self-Interested Meddlers” - The Bankrupcty Code was designed to enable honest debtors to reorganize and get a fresh start. But the growing number of claims traders purchasing these debts from lenders is warping the process, contends Kenneth A. Rosen, a nationally recognized bankruptcy expert.

FINAL CUT

Beware! Negative Interest Rates May Be Coming - ABF Journal illustrator Jerry Gonzalez predicts that the mattress may be a better place to stash your cash than the bank.

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