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.
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.”
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.
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.
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.
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.
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.
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.
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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