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Debt restructuring

Part of the Tax News & Views podcast series

In this episode, we take a close look at debt in the current economic landscape. Deloitte’s Steve Harrison and Ken Gerstel break down the challenges companies are facing in the markets, including debt modifications and negotiations, and what tax departments can do to be prepared.

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Tax podcast: Debt restructuring

June 1, 2020

Given the current economic climate, many companies have been in a rush for cash, leading to an upward increase in credit borrowing and corporate debt.

In this latest episode, Deloitte’s Steve Harrison and Ken Gerstel explain the significance of debt modifications and their implications on corporate debt restructuring.

I think what the tax departments probably need to start with is just a real education process as to what is a significant modification. The issue here is that a significant modification, if it arises, causes a debt instrument to be deemed satisfied and reissued for its fair market value.

⁠—Ken Gerstel

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