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To be held May 12 at the offices of Ellenoff Grossman & Schole LLP.
See the full public notice here
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Presented by the New Jersey chapter of the Turnaround Management Association, in conjunction with Financial Poise, this complimentary webinar will be held on Wednesday, May 6 at 11:30 AM EST.
In order to survive the impact of COVID-19, business owners must address this uniquely devastating event from several perspectives: surviving in the short-term; planning for a return to operations as lockdowns are gradually lifted; and implementing the protocols and procedures that will necessarily be part of the new normal. Navigating these challenges successfully is essential for any business seeking to recover and thrive. The panel will include Michele Siekierka Esq., President and CEO of the New Jersey Business & Industry Association; Mo Bauer, Esq. of Norris McLaughlin; Sharon Bender of Sterling National Bank; and Nicholas Jalowski of Cambridge Financial Services LLC.
Register Here To Attend
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Courts typically only appoint chapter 11 trustees in extraordinary circumstances. However, a creditor may want to consider pursuing this “nuclear option” in certain circumstances. In the article “The Good, the Bad, and the Ugly of Replacing a Debtor’s Management with a Chapter 11 Trustee,” Aaron Wernick, senior counsel at MetLife Investment Management, and the late Lawrence Gelber, whose work as a bankruptcy attorney at Shulte Roth & Zabel LLP was recognized by the Legal 500 United States and New York Lawyers, discuss the strategies behind seeking appointment of a chapter 11 trustee.
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A virtual, on-line symposium for business owners, corporate directors and officers, private equity professionals, and others seeking to learn the ins and outs of dealing with a financially distressed company – whether running one, buying one, or trying to get paid by one. Unprecedented in format (it will be conducted as a three act play with audience interaction), this event is being co-produced by: Private Directors Association (PDA), Midwest Business Brokers and Intermediaries (MBBI), New York Institute of Credit (NYIC), Turnaround Management Association - New York City Chapter, (TMA-NYC), Turnaround Management Association - New Jersey Chapter (TMA-NJ), Financial Executives International - Long Island Chapter (FEI-LI), Financial Executives International - New York City Chapter (FEI-NYC), Association of Restructuring & Insolvency Advisors (AIRA), and Financial Poise / DailyDAC. Corporate Sponsors are AuctionAdvisors, BankruptcyData.com, and Private Equity Career News.
For more information or to register, click here
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DailyDAC’s ODD curates information about distressed companies and assets of distressed companies that are for sale and about other opportunities to acquire assets at a bargain price. ODD researchers do the obvious, like culling through 363 sale motions in every chapter 7 and 11 that is filed. But they do so much more. DailyDAC researchers review bankruptcy court dockets well before a 363 motion is filed, to determine if there is a likelihood of a later sale; and they monitor hundreds of other resources on a daily basis to locate opportunities stemming from assignments for the benefit of creditors, receiverships, Article 9 sales, and a myriad of other factors that are forward indicators of opportunities involving distressed companies and others who have an urgent need to sell. Additionally, legions of corporate restructuring and insolvency professionals affirmatively reach out to DailyDAC to list their opportunities on the ODD, even when they choose not to advertise elsewhere. DailyDAC is not a mere aggregation service; our analysts exercise real judgment in deciding what to list because we understand that our subscribers' time is valuable and limited. Membership to the ODD is limited to 300 people. Click here for more info or to join now.
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About the Opportunistic Deal Database
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Vulture Investors Take Note:
Looking to buy companies out of bankruptcy? Assets of financially distressed companies in receivership, assignment or from lenders who have foreclosed on, and are selling, their collateral under Article 9 of the UCC? Search for excess assets resulting from plant closings? Targeting other sellers who need to sell urgently and other opportunistic/special situations?
Check out DailyDAC's Opportunistic Deal Database (ODD). The ODD culls such opportunities.
Subscribe here for access
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The deals listed here were added to the ODD throughout the seven day period ending this past Sunday. The number in parentheses next to each deal is its unique ID number, included so our paid subscribers can easily find these deals on our website.
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Secured Party Sales
- Luxury transportation vehicle(s) - (23011)
- Trucking operation (w/equipment) - (23013)
- Tanning salon (w/equipment) - (23017)
- Retail ground lease - (23015)
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Private Company Sales
- Representative of ventilation equipment manufacturers - (23022)
- Industrial products supply co (w/A/R & Inventory) - (23019)
- Industrial & commercial repair business - (23023)
- Manufacturer of farming equipment - (23025)
- Industrial equipment manufacturer - (23024)
- Plastic recycling business - (23026)
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Assignment for the Benefit of Creditors Sales
- No New Deals This Week
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Chapter 11 - 363 Sales
- Miscellaneous assets - Commercial beverage license - (22978)
- Commercial sewing/fabric cutting equipment - (22983)
- Professional Building - 3,000 Sq. Ft. lot - (23057)
- Chain of franchised ice cream shops - (22973)
- Nutrition producer (w/equipment) - (22980)
- Professional football league - (22963)
- Telecommunications provider - (22975)
- Amusement parks operator - (22960)
- Restaurant/burger chain - (22968)
- Real estate developer - (22992)
- Hair salon chain - (22957)
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Chapter 11 - Investment Banker Application Filed
- Coal & nuclear power generating company - (23004)
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Chapter 11 - Case Filing Indicates Future Asset Sale
- No New Deals This Week
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Chapter 7 - Sale of Business Assets
- Membership interests - Electric Services business - (23032)
- Industrial equipment - Multiple lots - (22991)
- Moving & logistics company - (22998)
- Southern touring company - (22994)
- Machine repair business - (22997)
- Bakery equipment - (22996)
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Chapter 12 Bankruptcy
- Farming partnership (w/acreage) - (22923)
- Farming/agribusiness - (22924)
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Rating Agency Alerts/Other Signs of Distress
- Manager of franchise & travel operations - (23039)
- Restaurant chain holding company - (22966)
- Recycler of electronic devices - (23040)
- Department store chain - (22959)
- Media conglomerate - (22965)
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Auctions
- POP display fabrication & assembly facility - (23038)
- Electrical test & measurement equipment - (23034)
- Commercial baking production equipment - (23036)
- Industrial equipment - Multiple lots - (23035)
- Complete restaurant (w/equipment) - (23016)
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Other Interesting Sales
- High efficiency magnetic components manufacturer - (22987)
- Biomedical research & manufacturing company - (23042)
- Crew management & training business - (23041)
- Restaurant & entertainment business - (22967)
- Single engine aircraft business - (23043)
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Bulk Sales
- Chain of shipping & business service centers - (22999)
- Franchise restaurant - (23000)
- Retail grocery store - (23003)
- Retail pharmacy - (23002)
- Hotel/motel - (23001)
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Receiverships
- Hotel/hospitality Building 136,037 Sq. Ft. - (23005)
- Office Building - 9,300 sq. ft. - (23006)
- Retail building - 2,324 sq. ft. - (23008)
- 2.14 acres of commercial land - (23007)
- Industrial pulp mill - (23009)
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Mass/Significant Layoffs
- Chain of upscale restaurants - (23051)
- Hotel & conference center - (23053)
- Public hotels & motels - (23054)
- Restaurant/steak house - (23055)
- Casino & hotel/resort - (23052)
- Aerospace company - (23050)
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Plant/Facility Closings
- Live streaming news & entertainment studio - (23049)
- Women's clothing & accessories' retailer - (23046)
- Furniture & mattress retailer - (23048)
- Franchised clothing retailer - (23047)
- Gaming retailer - (23045)
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DailyDAC is a publication of DailyDAC,LLC. DailyDAC LLC is strictly a research publishing firm and falls within the publisher's exemption of the definition of an "investment advisor" and is of general and regular circulation. DailyDAC is not a registered broker/dealer and it is not an investment bank or business broker. DailyDAC is not a solicitation or offer to buy or sell any securities. All content in this email is copyright 2020 by DailyDAC, LLC and may not be reproduced without written permission of DailyDAC, LLC but this email may be forwarded freely in its entirety.
DailyDAC, LLC provides continuing education and information for business owners and executives, accredited investors, and their respective trusted advisors (primarily attorneys, accountants, and other financial and business advisors.) For more information about DailyDAC LLC, click here.
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DailyDAC, LLC
1954 First Street, Suite 178
Highland Park, IL 60035
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