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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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

Ice Cream manufacturer
Deloitte CRG has been retained to assist with a leadership transition of a previously family-owned manufacturer of ice cream and frozen novelties. With the retirement of much of the senior management team, CRG is providing support in the finance area until the permanent CFO replacement is able to assume full responsibilities.

Mississippi phosphates corporation
Deloitte CRG currently serves as the CRO for a diammonium phosphate (DAP) producer that is working toward a sale of its assets while in Chapter 11. The company’s production facilities are located on a deep-water port in Pascagoula, Mississippi.

Higher education institution
Deloitte CRG was hired as the financial advisor to a not-for-profit university in a liquidity crisis. The university faced declining enrollment and budget deficits and risked running out of cash in the near-term. Deloitte CRG, in conjunction with Deloitte Consulting, developed a breakeven business model based on tuition revenue and negotiated the extension of the credit facility with the existing lender. Deloitte CRG also embedded in the university’s restructuring team to prioritize 65+ academic programs, eliminate non-core and non-profitable majors, develop controls for minimum class sizes and realign academic services to reflect the reduced academic program.

Media company
Deloitte CRG was appointed the Liquidating Officer of a business-to-business media company in connection with a sale of substantially all of its operational assets. Deloitte CRG assisted in the completion of the sale transaction and is overseeing all aspects of the company’s subsequent wind-down process.

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.

Upcoming events

ABI Bankruptcy Battleground West Conference
March 24, 2015
Deloitte CRG will be sponsoring ABI’s 23rd Annual Bankruptcy Battleground West Conference where Scott Avila will be speaking on Confirmation Trial Skills in Los Angeles, CA.
Event details

ABI Annual Spring Meeting
April 16-19, 2015
Deloitte CRG will be sponsoring ABI’s 33rd Annual Spring Meeting. Join William Snyder, Michael Epstein, Scott Avila, Lisa Poulin, Craig Boucher and more of the Deloitte CRG team on-site in Washington, DC.
Event details

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Scott Avila

Principal | Deloitte CRG

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William Snyder

Principal | National Leader | Deloitte CRG

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Louis E. Robichaux IV

Principal | Deloitte CRG

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