Deloitte Corporate Restructuring Group (Deloitte CRG) Newsletter | Deloitte US | Deloitte Advisory

Perspectives

Deloitte CRG Newsletter

Hot topics and trends in corporate restructuring

The Deloitte Corporate Restructuring Group (Deloitte CRG) Newsletter addresses the current state and outlook for the Deloitte CRG practice, including recent engagements, announcements, case studies, and upcoming events.

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Upcoming events

Turnaround Management Association (TMA) Northeast: Cash is King–13-week Cash Flow Analysis
May 11, 2016
Rudy Morando will present on 13-week cash flow analysis during the upcoming TMA Northeast Breakfast Discussion: Cash is King. Participants will cover the basic aspects of 13-week cash flow analysis, including understanding the concept and importance of 13-week cash flow forecasting, how to develop key aspects of the model, and cash/liquidity management strategies.
Event details

Baker & McKenzie's third annual Global Oil & Gas Institute
May 18, 2016
Connect with the industry leaders and up to 100 Baker & McKenzie attorneys from more than 20 jurisdictions around the world at the Global Oil & Gas Institute on May 18th in Houston. Deloitte CRG’s William Snyder will speak on “How to cut costs and save the company” during this event.
Event details

Association of Insolvency & Restructuring Advisors (AIRA) 32nd Annual Bankruptcy & Restructuring Conference
June 8–11, 2016
The AIRA 32nd Annual Bankruptcy & Restructuring Conference will be held in Coronado Island, CA from June 8th through the 11th, and two of Deloitte CRG’s thought leaders are scheduled to present. Craig Boucher will discuss “Best practices for avoiding preferences suits” and Tim Hurley will present on “Academic probation: The unique dynamics of educational restructuring.”
Event details

​Fireside chat with Deloitte CRG’s new Senior Lender Advisory Leaders

Deloitte CRG added two experienced senior lender restructuring advisers to enhance the Deloitte brand primarily in the New York City-centered lender market. Sean Cunningham and Bob Frezza were hired to co-lead the NY based senior lender advisory effort which rounds out the third leg of the restructuring “stool.” Deloitte CRG has further enhanced its experience and leadership to provide world class restructuring services to debtors and creditors throughout the capital structure as well as provide a full suite of investment banking services globally.

Read the full fireside chat here.

Distress deals present growing opportunity for senior living buyers

Featuring Louis E. Robichaux

Mid-sized senior living providers that are looking to grow have opted to build rather than buy lately, in part because they’ve been priced out of the acquisition market. But these operators soon could be seeing more opportunities to expand their footprints by purchasing—if they’re willing and able to navigate the more complex types of deals around distressed properties.

Read the full article here.

Warning signs of distress revealed: Steering by analytics tools and forecasting tools

By Vipul Adlakha and Kyle Richter

External pressures coupled with lack of planning/forecasting can lead companies to distress. See how these turnaround professionals view analytics as a vital tool to middle market companies as well as the importance of establishing strong data governance and financial planning strategies.

Read the full article here.

Cultivating employees often overlooked in turnarounds

By William Snyder and Sugi Hadiwijaya

The relationship between turnaround professionals and their clients’ personnel is delicate. Their interaction occurs on a day-to-day basis under difficult circumstances. While turnaround professional embrace the dynamics of a turnaround environment, most clients’ personnel find the situation highly stressful.

Read the full article here.

Recent engagements

Confidential Global Defense Logistics
Deloitte CRG has been retained by this global supplier of defense materials and logistics to assist management in developing more coordinated global treasury and liquidity management functions. Our professionals are working with management to improve liquidity management and to create management tools to monitor and adjust for changes to the shift between domestic and overseas liquidity generation.

Venoco
Deloitte CRG was recently retained to provide bankruptcy administrative services to Venoco, Inc. Our team began working with management in January 2016 to prepare Venoco to execute a Chapter 11 restructuring. Venoco filed bankruptcy on March 18, 2016 in the US Bankruptcy Court for the District of Delaware.

Specialty Apparel Design and Manufacturer
Deloitte CRG has been hired to assist management of this swift-growing platform company to absorb multiple recent acquisitions. Our efforts include assisted to develop detailed liquidity and operational visibility and management, along with development of the post-merger integration strategy.

View additional featured engagements from Deloitte CRG.

Deloitte CRG news

We are pleased to announce that two directors have joined Deloitte CRG to bolster our New York team. Sean Cunningham will lead CRG’s creditor rights practice. Bob Frezza will focus on financial restructuring and related advisory services.

Sean has more than 20 years of experience working directly for and providing restructuring advice and services to debtors, senior lenders, and unsecured creditors. He has advised lenders and companies in numerous complex Chapter 11 bankruptcy reorganizations, liquidations, and out-of-court settlements with a particular focus on advising senior lenders. Additionally, Sean has provided interim management services as chief restructuring officer (CRO) and chief operating officer (COO) of various entities.

Bob has more than 30 years of experience providing financial advisory services to clients across numerous industries in the US and Europe. He is highly experienced in leading creditors and debtors through complex restructuring engagements, both in out-of-court and in-court proceedings. Additionally, he has experience in M&A and refinancing transaction due diligence projects for private equity/hedge funds, private equity back portfolio companies, lenders, and acquisitive companies.

As used in this document, “Deloitte Advisory” means Deloitte & Touche LLP, which provides audit and enterprise risk services; Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services; and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. These entities are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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William Snyder

Principal | National Leader | Deloitte CRG

People

Louis E. Robichaux IV

Principal | Deloitte CRG

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CRG Team

CRG Team | Corporate Restructuring Group