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.
Lisa Poulin will be speaking on the panel “Financing Chinese Companies–PRC, Hong Kong, and elsewhere” at ABI’s 2015 Beijing Insolvency & Restructuring Symposium in Beijing, China.
In January, 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.
Hospital district / Healthcare system: Deloitte CRG currently serves as the financial advisor to a county hospital district / integrated healthcare system. This representation is in connection with the district’s involvement in related Chapter 11 and adversarial proceedings with a separate healthcare entity.
Consumer Goods Manufacturer
Deloitte CRG was recently engaged to provide an interim-CFO and advisory services for a consumer goods manufacturing company with its main operations outside the US. The company’s liquidity dropped recently due to high fixed labor costs amid declining sales from one of its major customers. Deloitte CRG, working together with personnel from the local Deloitte Touche Tohmatsu Limited (“DTTL”) member firm, is helping the company monitor liquidity, identify sources of cash and other areas for improvement while it evaluates its strategic options.
Wired/Wireless Communication Company
A $130 million communication infrastructure provider engaged Deloitte CRG to analyze current operations, identify potential saving opportunities, and develop an operational improvement plan to improve liquidity through the slower winter construction season.
Deloitte CRG was recently retained as financial advisor to a southwest-based continuing care retirement community in need of an operational turnaround. Deloitte CRG is assisting the client to develop a 13 week liquidity model, a bottoms-up 2016 operational budget, and a longer term business plan.
Deloitte CRG news
We are pleased to announce that two new 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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