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FEATURES
Retail’s Costly Transformation
Ref# TM102
Somewhat encouraging numbers from this past holiday shopping season are lending good news to the overall economy. But the modest gains shouldn’t be interpreted as a rebound for the fractured retail industry…
By Peter N. Schaeffer, Carl Marks Advisory Group
SPECIAL SERIES: The True Face of Dilution
Ref# FIELD014
Field examiners may spend a considerable time scrubbing a borrower’s trade accounts receivable (A/R). Often the resulting ineligibles proposed are met with the following question: “Isn’t this all covered by dilution?” Knowing the answer to the question is critical to ensuring that the borrowing base formula adequately protects an asset-based lender.
By Gilles Benchaya and Gregory Anderson, Richter Consulting
While ABL Tapers Off in Q4/09, Lenders Expect an Active 2010
Ref# IND132
Asset-based lending got off to a tepid start in 2009 and gained momentum part way through the year, only to see issuance taper off by year-end. The softness was disappointing and arguably a bit of a surprise. Maria Dikeos returns to offer an outlook for 2010.
By Maria C. Dikeos, Thomson Reuters LPC
FROM ALL FACETS
Profile of Success
KPS Capital Partners … Making Things Happen
Ref# COMP033, EXEC073
From its strict use of asset-based lending structures to its strong relations with labor unions, very little about KPS Capital Partners resembles a run of the mill private equity fund. With his characteristic candor, Michael Psaros, co-founder and managing partner, explains the differences … and a lot more.
By Stuart P. Papavassiliou, Senior Editor
Turnaround Corner
The Rise of the Quickie Bankruptcy
Ref# BANK031
As the pace and timeframe with which Chapter 11 filings are processed becomes condensed, commentary — both good and bad — has focused on the role of the prepackaged bankruptcy. Kevin Lombardo says that while prepacks have their place, firms must “tread lightly.”
By Kevin P. Lombardo, General Capital Partners Management Services
Factoring Focus
IFA 2010 Annual Conference
Ref# FAC093
The IFA’s 16th Annual Conference provides plenty of educational material from beginner to advanced, domestic to international, officer to president and all levels of employee groups all under Arizona skies…
A Message From Executive Director, Bert Goldberg
New Association Aims to Shine Positive Light on Factoring
Ref# FAC094
In mid-2009 when the economy was still mired in a long, hard recession and just beginning to work its way out, members within the International Factoring Association decided it was time to launch another branch to stave off onerous regulation of their non-regulated companies. Enter the American Factoring Association.
By Amanda L. Gutshall, Associate Editor
Bankruptcy Update
CIRAs: Well Equipped for Economic Crisis
Ref# BANK032
In 1992, the Association of Insolvency and Restructuring Advisors sought to meet the need for a standard of recognized expertise in this field by establishing the Certified Insolvency and Restructuring Advisor program. To date, over 3,500 industry professionals have taken part in the certification process.
A Message From Executive Director, Grant Newton
There Has to be a Better Way
Ref# BANK033, LGL105
Preparing an involuntary bankruptcy proceeding can lead to useful information about the debtor and its other creditors. Taking the steps necessary for preparing the petition will prepare you for that option, should it become desirable and necessary.
By Patrick M. Jones, Golan & Christie
Legal Eyes
Court of Appeals Rules Unsecured Creditors May Claim Post-Petition Attorneys’ Fees
Ref# LGL106
The Court of Appeals for the Second Circuit recently held that a creditor was entitled to its post-petition legal fees incurred on a prepetition indemnity agreement in the case of Ogle, Liquidating Trustee of the Agway Liquidating Trust v. Fidelity & Deposit. In affirming the lower courts, the Second Circuit explained that the Bankruptcy Code “interposes no bar to recovery.”
By Jeffrey A. Wurst, Esq. and Michael T. Rozea, Ruskin Moscou Faltischek
FinalCut
GE’s Immelt Takes Swipe at Culture of ‘Meanness and Greed’
ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.
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March 2010 Issue