THE CORPORATE RESTRUCTURING profession has become, much like the broader economy, increasingly a world of few “haves” and many “have nots.” This is not by accident, and it is not going away. Those who see and accept the industry for what it is—and pivot accordingly—will continue to be winners. Those who possess a limited repertoire […]
Selling the Aziz Convenience Store Chain at Bankruptcy Auction for $41.6 Million Harold J. Bordwin and Matt Bordwin, Principals and Co-Managing Directors of Keen-Summit Capital Partners LLC, have received the 2016 Transaction of the Year Award for a Mid-Size Company Transaction by the Turnaround Management Association (TMA). The TMA and the American Bankruptcy Association are the […]
Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to firstname.lastname@example.org and we will try to answer it.
Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to email@example.com and we will try to answer it. QUESTION: A commercial banker emailed saying, “We’ve recently had a large asset-based loan default and the company filed Chapter 11. Our attorney has advised […]
Bankruptcy professionals, other business professionals, and trade vendors would be reluctant to provide services or otherwise extend credit on an unsecured basis to an insolvent entity like a bankruptcy debtor unless their claims to payment were somehow ensured. In addressing this predicament, Congress provided that holders of unsecured claims that arise from certain transactions that […]
Editor’s Note: For a great discussion of options available to struggling businesses, we recommend Help! My Small Business Is In Trouble, a webinar by Financial Poise. When a company is distressed, incumbent management may see the need for restructuring, but also may find itself overwhelmed in tending to day-to-day operational issues plus the demands of a […]