Perspectives

CRG Newsletter

Hot topics and trends in corporate restructuring

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

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Upcoming events

PurpleStride New York 5k - THANK YOU!
We’d like to extend a huge THANK YOU to all Team Sheila supporters who contributed in some way - whether through a donation, fundraising efforts, attendance or any other form of support - to the Pancreatic Cancer Action Network’s PurpleStride 5k Run & Family-Friend Walk on April 11, 2015. We are proud to report that Team Sheila raised over $75,000 - with additional donations still being calculated - and Sheila Smith received special recognition at the event for representing the top fundraising team. Supporters came in from all over the US to participate in the 5k, including around 40 of Sheila's family, friends and colleagues. Check out a few photos from the event at our @DeloitteCRG Twitter account. Thank you for your support!


Sheila (in purple scarf) celebrating when Team Sheila was announced as the number one team

TMA Northeast Founders Awards Reception
May 28, 2015
The TMA Northeast Founders Awards Reception celebrates the men and women who formed TMA Northeast and helped turn it into one of the leading TMA chapters in the country. Please join Deloitte CRG in congratulating our very own Sheila Smith as she will be honored during the reception as one of the chapter’s founders.
Event details

AIRA Annual Conference
June 3-6, 2015
Deloitte CRG is a sponsor at the Association of Insolvency & Restructuring Advisors (AIRA) 31st Annual Bankruptcy & Restructuring Conference. Be sure to look for Tony Sasso, Eric Danner, Michael Sullivan and other Deloitte CRG team members at the conference in Philadelphia this June.
Event Details

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

Dune Energy Inc.
Deloitte CRG serves as financial advisor to Dune Energy Inc., an oil and gas producer based in Houston who filed for bankruptcy protection in March. The company is restructuring certain operations and conducting a sale of substantially all of its assets.

Biotechnology company
Deloitte CRG was hired as the financial advisor to the Unsecured Creditors Committee of Dendreon Corporation to provide oversight and advisory support related to enterprise cash flow, financial operations monitoring, analytical support for various revenue forecasts, and recovery scenarios to the unsecured creditors. In addition, Deloitte CRG partnered with the National Bio-Pharmaceutical leader Deloitte LLP in Canada to provide industry expertise to Committee professionals related to potential sale strategies.

Medical library
Deloitte CRG was retained by a not for profit historical medical library that has served physicians since its founding over 200 years ago. The not for profit engaged Deloitte CRG to evaluate its proposed plan to transform the library into a museum business model, including as assessment of the related financial investment, ongoing operating cost, and impact on future results.

Professional services company
A $1 billion+ professional services company engaged Deloitte CRG to provide technical accounting advice and valuation services in support of their emergence accounting effort.

Explore additional noteworthy engagements at the CRG featured engagements page.

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.

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People

Scott Avila

Principal | Deloitte CRG

People

William Snyder

Principal | National Leader | Deloitte CRG

People

Louis E. Robichaux IV

Principal | Deloitte CRG

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