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.
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.
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
AM&AA 2015 Summer Conference
July 7-9, 2015
Deloitte CRG’s Tim Skillman will be speaking on “Collaboration to Closure” during the Alliance of Merger & Acquisitions Advisors 2015 Summer Conference in Chicago this July.
ABI Northeast Bankruptcy Conference
July 7-12, 2015
Deloitte CRG is sponsoring the American Bankruptcy Institute’s Northeast Bankruptcy Conference to be held in North Falmouth, MA. Be sure to watch for Tim Hurley, Eric Danner, Ashish Shrestha and other Deloitte CRG team members at the conference this July.
ABI Southeast Bankruptcy Workshop
July 24-26, 2015
The 20th Annual Southeast Bankruptcy Workshop is taking place in Amelia Island, FL at the end of July and Deloitte CRG is the “Friday Beach Day” sponsor. Kevin Barrentine, Chuck Kuoni, Lance Miller, Chris Pizzo and other Deloitte CRG team members will be on-site.
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.
Deloitte CRG has been retained by a secured lender in connection with a challenged rural hospital borrower located in the Southwest. The hospital is constructing a replacement facility and found themselves facing a potential debt service capacity issue, as well as not maintaining compliance with certain requirements under the loan agreement. Deloitte CRG was retained to assist the lender in evaluating the borrower’s operations, near-term liquidity outlook and long-term debt service capacity. Deloitte CRG‘s dedicated health care industry professionals are leading this engagement.
Oil & Gas company
Deloitte CRG was engaged to evaluate the 2015 business plan and liquidity needs of a midstream oil and gas company operating in one of the major oil shale regions in the United States. The company experienced a decline in revenue after the drop in oil prices starting in late 2014.
Subsequent to HMC/CAH Consolidated, Inc. et al confirming their bankruptcy plan of reorganization, Deloitte CRG was appointed as Plan Monitor, a post-confirmation fiduciary role. Deloitte CRG will be monitoring the reorganized debtors‘ compliance with various economic provisions of the plan of organization.
Explore additional noteworthy engagements at the Deloitte 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.
Transactions & Business Events
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