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Equity Security Holders

A Primer on the Chief Restructuring Officer (CRO)

A Brief History of the Chief Restructuring Officer The role of a Chief Restructuring Officer (“CRO”) is approximately four decades old.  While still a somewhat new role in the 1990s, CROs are now ubiquitous in the restructuring community.  Todd Zywicki, a George Mason law professor who specializes in bankruptcy law, traces the origin of the […]


90-Second Investing Lesson: GP, LP and Sponsor

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. DISTRESSED ASSET INVESTORS should always be aware of the alternatives available to them, and also remain abreast of potential competitors, such as private equity. […]


Fourth Circuit Approves Recharacterization of Secured Debt Into Equity

A Brief Summary of PEM Entities​: Unsecured Creditors Pulled Down a Secured Creditor In its recent unpublished opinion PEM Entities, LLC v. Province Grande Old Liberty, LLC, 2016 WL 4254917, (4th Cir. Aug. 12, 2016), the Fourth Circuit Court of Appeals affirmed the bankruptcy court’s award of summary judgment to certain unsecured creditors (the “Plaintiffs”) […]


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