Analysis of Distress

Operational Issues

December 12, 2016

Life Partners Holdings –A Tower of Schemes Comes Crashing Down (Part 1)

  • Brad Daniel
  • BMC Group
  • New York, NY
  • (212) 310-5910

If you are already familiar with the Life Partners Holdings debacle, you may think that the term “Life Partners” should stand for Brian Pardo and his partners in crime who ran that notorious company serving life sentences (instead of just paying massive fines and having some of their assets seized). Such criminals' loss of liberty may have satisfied justice in a way, but the investors in this Ponzi-like scheme really need to get their money back, or...

April 17, 2015

The Oil & Gas Psychic Hotline

From the Editorial Staff of Commercial Bankruptcy Investor

Psychic hotlines were all the rage in the late 80s and early 90s. Cable television channels were littered with their advertisements. One wonders if the so-called “psychics” answering all those pay-by-the-minute phone calls could foretell their own futures—that revenues from people willing to incur exorbitant phone bill charges by the minute (without even getting any sexual satisfaction) compared to costs (primarily advertising fees) would just not match up very well one day. Many of them...

April 9, 2015

Neither a Borrower Nor A Lender Be . . . In an Oil Market After a Sharp Plunge in Prices

From the Editorial Staff of Commercial Bankruptcy Investor

Anyone who has even casually glanced at the financial news in recent months is already well aware of the big story today—global oil prices have fallen dramatically. At their lowest levels in six years, and at 50% cheaper than the average over the last 4 years, this is a huge story, and one that is bound to end badly for certain companies in the oil and gas sector.  But aside from waiting to see who...

December 8, 2014

Connacher's Woes: Over-Levered and at the Mercy of Global Economic Forces

Jon Petersen
Distressed Debt/Equities Research Team

Shifts in both commodities and credit markets are causing pain for Connacher Oil and Gas, and have led to a “going concern warning"[i] being included in their Q3 results. Connacher is seen as likely to run into difficulties making interest payments, and as a result its stock price is down some 85% from its 2 year highs in April, when WTI crude prices were trading closer to $95. The Alberta based company operates two projects...

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