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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

American Bankruptcy Institute (ABI) Northeast Bankruptcy Conference
July 14-17

ABI will be hosting its 23rd Annual ABI Northeast Bankruptcy Conference on July 14-17. Managing Director Eric Danner will participate in a session titled “Emerging Professionals Panel: Show Me the Money-Understanding, Structuring and Getting Approval for Debtor-in-Possession Financing.” Join Eric Danner, Tim Hurley, Ashish Shrestha, and others in Bretton Woods, NH.

Event details

Upcoming events

​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 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

Industrial Distribution Company
Deloitte Corporate Restructuring Group (Deloitte CRG) was recently retained by a $1 billion industrial distribution company to assist them to develop a weekly cash flow forecast and perform an assessment of the company’s long term business plan / financial model. Deloitte CRG is also assisting management in its discussions with the company’s lenders to explore options for loan agreement amendments.

Agriculture Company
Deloitte CRG is currently advising a multinational greenhouse operation on performance improvement and recapitalization. The company has also retained Deloitte Corporate Finance LLC to assist in a capital raise.

Restaurant Chain
Deloitte CRG currently serves as the financial advisor to the secured lender of a multi-concept restaurant chain to provide a business assessment, including four-wall profitability analysis, and analyze certain transactions related to the borrower’s joint venture operations.

Petroleum Company
Deloitte CRG represented the first lien lenders in developing a successful pre-pack bankruptcy under tight conditions in a very constrained timeframe by leveraging Deloitte’s petroleum engineering group and seasoned restructuring team.

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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Services

Deloitte Corporate Restructuring Group (Deloitte CRG)

Deloitte CRG is a leader in helping organizations transform periods of financial difficulty into opportunities for rejuvenation.

Kirk Blair

Partner | National Leader | Deloitte CRG

Louis E. Robichaux IV

Principal | Deloitte CRG

CRG Team

CRG Team | Corporate Restructuring Group

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