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October 2015

Turnaround Management
Vol. 13 No. 7
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COVER STORY

Preserving the Jewel in a Swine’s Snout: Inside the Award-Winning AgFeed Industries Turnaround - Attorneys Aaron L. Hammer and Michael Brandess share a case study of the AgFeed Industries turnaround, a unique Chapter 11 case involving U.S.- and China-based swine production which earned the 2014 Large Transaction of the Year award from the Turnaround Management Association.

FEATURES

The Benefits of Branding: Unlocking a Vital Tool in the Turnaround Arsenal - Branding expert Ilan Geva explores the often overlooked importance of branding in a turnaround, citing key takeaways from the recent turnaround efforts of recognizable brands including RadioShack, McDonald’s, Blackberry and Twinkies.
Creating an Agile Transformation Amid Continuous Market Disruption - KPMG’s Mitchell Siegel outlines the steps necessary for businesses to create an effective transformation, including establishing and tracking metrics as well as mining market signals and asking the right questions.
Expanding Underneath the TMA Tent: Ensuring the Relevance and Value of Restructuring - TMA president J. Scott Victor provides an update on the expanding footprint of the association, outlining its primary goals of connecting, educating and certifying members. He remains confident in the future of the restructuring industry despite recent flux.
The Quick Sale Devolution of Chapter 11: A Call to Amend Bankruptcy Code Sale Provisions - Lowenstein Sandler’s Ken Rosen addresses section 363 of the Bankruptcy Code, a provision that permits a bulk sale of all debtor assets. He asserts that rapid sales deprive debtors of the ability to utilize the tools of Chapter 11, which is not what Congress intended.
The Small and Swift Advantage — Hana Business Capital Serves the Lower Middle Market at Light Speed - Newly appointed chief risk officer, Albert D. Perez shares the threefold process that Hana Business Capital plans to employ in its quest to cater to the underserved lower middle market. Thanks to the small size, depth of knowledge and experience of his team, Perez says Hana has decision making speed unrivaled by competitors.

TURNAROUND CORNER

An Industry in Transition: Turnaround Managers Adapting to Change - Howard Brod Brownstein talks with five active turnaround industry leaders to gauge the current climate of the industry. They discuss adaptation strategies, turnaround forecasts, bankruptcy avoidance and pinpoint the industries where turnaround activity remains strong.

SPECIALTY LENDING

Social Impact Investing: Bridging the Gap Between Capitalism & Altruism - Planet Experts’ Pierce Nahigyan catches up with Don Shaffer, president and CEO of RSF Social Finance, a non-profit enterprise building a financial platform to empower social enterprises that benefit not only the bottom line but the Earth and society as a whole. This altruistic capitalism appeals to an emerging generation of conscientious investors.

LEGAL LINES

Secured Lenders Beware: Credit Bid Minimization Trend Creates Uncertainty - Attorney Kenneth D. Peters examines the current trend of limiting the credit bidding rights of secured creditors. To protect lien interests, he encourages properly perfecting assets on the front end of deals, and being aware of the unfair uncertainty of lender lien rights on the back end in bankruptcy.

FINAL CUT

Capital One Acquires GE Capital’s Healthcare Finance Unit - ABF Journal illustrator Jerry Gonzalez provides his take on Capital One’s purchase of GE Capital’s Healthcare Finance unit, a transaction valued at approximately $9 billion.

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