Lauren Smith, senior manager, and John Lankenau head of valuation and accounting product solutions, both at Primatics Financial, discuss the FASB’s proposed CECL standard, why it’s causing concern for financial institutions, and how using technology can assist with impending changes.
Houlihan Lokey’s Tim Stute discusses the increasing M&A activity in the financial services sector and the emergence of non-bank buyers in the space. Stute notes there is an abundance of potential buyers in the market, but the reality is it’s not quite as easy as simply calling a group of bank buyers and selling to the highest bidder.
From the days of The House of Morgan’s global dominance in the early 1900s to current times, transatlantic transactions featuring new products such as ABLs are becoming more mainstream. European asset-based financing is gathering momentum as CFOs discover the multitude of benefits.
Mark Hafner, president & CEO, Celtic Capital Corporation, provides a personal look into the history of the company founded by his father, the reasons he sold the company to larger banks in 2008 and 2012, and why he followed his dream of returning to Celtic’s roots as a privately held company — a decision lauded by industry insiders.
ABL volume is up from last year, with Q1/14-Q3/14 new-money deals substantially higher, six percentage points, than the same time last year. Refinancings continue to dominate, and demand still outpaces supply — pushing pricing downward. But there has been a return to more traditional ABL refinancings, with fewer opportunistic refinancings in Q3/14.
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.
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.
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.
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.
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.