The Art of Distressed M&A: Buying, Selling, and Financing Troubled and Insolvent Companies

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Author :
Publisher : McGraw Hill Professional
ISBN 13 : 0071750304
Total Pages : 496 pages
Book Rating : 4.0/5 (717 download)

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Book Synopsis The Art of Distressed M&A: Buying, Selling, and Financing Troubled and Insolvent Companies by : H. Peter Nesvold

Download or read book The Art of Distressed M&A: Buying, Selling, and Financing Troubled and Insolvent Companies written by H. Peter Nesvold and published by McGraw Hill Professional. This book was released on 2010-12-17 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pessimists see distressed M&A . . . Optimists see distressed M&A Opportunities abound in “bankruptcy beauties”—both in good times and bad. Distressed mergers and acquisitions used to be the domain of a handful of specialists, who generated handsome profits by unlocking value in troubled companies. Now, you can learn the secrets for participating in these deals with knowledge and confidence. The Art of Distressed M&A provides the critical information needed to manage the unique complexities of buying, selling, and financing troubled companies. The Art of Distressed M&A arms you with creative solutions to seemingly impossible problems and helps you to avoid common pitfalls. This comprehensive guide enables you to: Understand the roles, rights, and responsibilities of debtors, secured creditors, unsecured creditors, advisors, trustees, and bankruptcy courts Navigate through complicated valuation, financing, legal, accounting, and tax issues Communicate effectively and make informed proposals in multiparty negotiations Create the optimal deal structure—from prepackaged plans of reorganization to 363 sales to loan-to-own transactions The Art of Distressed M&A also highlights practical examples using recent bankruptcy cases following the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 and is the first publication of its kind since The Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010.

Buying and Selling Distressed Companies

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Author :
Publisher : Corporate Turnaround Cente Pte Limited
ISBN 13 : 9789810864637
Total Pages : 100 pages
Book Rating : 4.8/5 (646 download)

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Book Synopsis Buying and Selling Distressed Companies by : Michael Teng

Download or read book Buying and Selling Distressed Companies written by Michael Teng and published by Corporate Turnaround Cente Pte Limited. This book was released on 2010-09-03 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why would anyone want to invest in a company that has declared or is near bankruptcy? Most people would not want to touch such a stock but there are many who specialize in this very field. Distressed securities are the securities such as stocks, bonds, other financial claims of a company that is close to or has reached financial distress. If a company has filed for bankruptcy, it is under financial distress. This category also includes bank debt and non-performing loans. They fail to make regular interest or principal payments, and they trade at yields higher than those of similar dated Treasuries. Who would want to invest here? Once their financial distress becomes evident, there is lot of panic selling and these then trade at deep discounts. At this stage, they present an attractive opportunity to anyone who has analysed their true worth. In recent years, private firms such as hedge funds, private equity firms have been among the largest buyers of distressed securities. They hold the securities until they have appreciated, and then sell them. This book examines the fundamental issues in relating to buying and selling of distressed companies. It is a sequel to the first highly successful book by the same author: Fundamentals of buying and selling companies.

Buying and Selling Insolvent Companies and Businesses

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Author :
Publisher : Bloomsbury Professional
ISBN 13 : 9781847665423
Total Pages : 362 pages
Book Rating : 4.6/5 (654 download)

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Book Synopsis Buying and Selling Insolvent Companies and Businesses by : Ken Titchen

Download or read book Buying and Selling Insolvent Companies and Businesses written by Ken Titchen and published by Bloomsbury Professional. This book was released on 2010 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides practical guidance for people who are planning to buy and sell a formally insolvent/close to formally insolvent company or business in the UK. It will guide the potential purchaser through the various stages in the acquisition process, providing material on the pitfalls of such acquisitions. With a practical and accessible format, including checklists and precedents, it has the necessary tools to fully evaluate the proposed acquisition while highlighting any likely problems. The book is structured in such a way to consider all the relevant issues arising from both the vendor's and purchaser's perspective.

Buying and Selling Distressed Businesses 2012

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Author :
Publisher : Aspatore Books
ISBN 13 : 9780314280190
Total Pages : 164 pages
Book Rating : 4.2/5 (81 download)

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Book Synopsis Buying and Selling Distressed Businesses 2012 by : West Group

Download or read book Buying and Selling Distressed Businesses 2012 written by West Group and published by Aspatore Books. This book was released on 2011-12 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Buying and Selling Distressed Businesses provides an authoritative, insiders perspective on best practices for purchasing and selling the assets of a debtor in a Chapter 11 case under Section 363 of the Bankruptcy Code. Featuring partners from some of the nations leading law firms, this book guides the reader through how the Chapter 11 practice is changing, the factors driving these changes, and what it means for the sale of distressed businesses. From analyzing buyer objectives and preparing for the negotiation process to managing successor liability risk and working with the bankruptcy court, these top lawyers give tips on assisting clients during the bankruptcy acquisitions process and avoiding common mistakes. Additionally, these leaders discuss recent notable distressed business sales, the strategies involved, and what clients and counsel can learn from these deals. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts on the keys to success within this competitive field.

Bankruptcy Investing

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Author :
Publisher : Dearborn Trade
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Bankruptcy Investing by : Ben Branch

Download or read book Bankruptcy Investing written by Ben Branch and published by Dearborn Trade. This book was released on 1992 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate bankruptcies are at an all-time high, and this trend is likely to continue. Bankruptcy Investing introduces investors to the risky but lucrative opportunities to invest in the securities of troubled companies. Every area of this exciting field is described in complete detail. Real-world examples illustrate the explanations. Companies in distress may go through an informal or formal workout of problems, or they may enter Chapter 11 or Chapter 7 bankruptcy. The investment implications for the securities of firms in each of these stages are considered in full. Everything the investor needs to know is contained in this book. The authors show why it can be smart to invest in troubled companies.

The Art of Vulture Investing

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Publisher :
ISBN 13 : 9781119200581
Total Pages : pages
Book Rating : 4.2/5 (5 download)

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Book Synopsis The Art of Vulture Investing by : George J. Schultze

Download or read book The Art of Vulture Investing written by George J. Schultze and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "A detailed look at the discipline of modern distressed investing. Investing in distressed securities/financially troubled credits is an approach that contains both great risk and opportunity. Occurrences from the recent credit crisis have changed this playing field immensely, not so much in terms of actual laws being revised but in the government's larger role. What are the repercussions of the crisis and its bailouts on lending to financially troubled companies? Do the same approaches that have been used for over sixty years still hold true or have some of the rules changed? The Art of Vulture Investing will answer these, and many other, important questions. An expert in the field distressed investing, author George Schultze understands the risks and opportunities of investing in financially troubled companies, especially in the wake of a shaken credit industry and sizeable government bailouts. Now, in The Art of Vulture Investing, he shares his extensive insights and expertise with you. Throughout this book, he skillfully discusses distressed security investing theory and strategy, while presenting current examples in order to reveal how the landscape has changed in recent years. Offers valuable information on post-financial crisis distressed security investing Examines the opportunities and dilemmas of the modern portfolio manager who invests in distressed securities Includes in-depth case studies of Chrysler and Tropicana If you're looking to enhance your understanding of the distressed investing discipline, this book is the best place to start"--

Investing in Financially Distressed Firms

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Author :
Publisher : Praeger
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Investing in Financially Distressed Firms by : Murali Ramaswami

Download or read book Investing in Financially Distressed Firms written by Murali Ramaswami and published by Praeger. This book was released on 1990-01-22 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive new study examines the impact of the 1978 Bankruptcy Reform Act on firms that file under Chapter 11 and on investors who own shares or bonds in financially distressed corporations. Demonstrating that high average returns often accompany wise investment choices concerning bankrupt firms, the authors explain how to spot potential investment targets, assess investment risk, and profit from investing in firms undergoing reorganization following a bankruptcy filing. Both individual and institutional investors looking for new investment opportunities and students of corporate finance and financial management will find important new insights into the investment potential of financially distressed firms. Investing in Financially Distressed Firms represents a good buy for those who would like to hunt bargains in the broken angel sector of the market. Journal of High Yield Bond Research This comprehensive new study examines the impact of the 1978 Bankruptcy Reform Act on firms that file under Chapter 11 and on investors who own shares or bonds in financially distressed corporations. Demonstrating that high average returns often accompany wise investment choices concerning bankrupt firms, the authors explain how to spot potential investment targets, assess investment risk, and profit from investing in firms undergoing reorganization following a bankruptcy filing. The legal issues involved in investing in bankrupt firms, the environment within which the bankrupt firm operates, and the relationship between stock market efficiency and bankrupt firms also receive thorough coverage. Both individual and institutional investors looking for new investment opportunities and students of corporate finance and financial management will find here important new insights into the investment potential of financially distressed firms. The volume begins with an introduction which sets the stage for the discussion that follows by describing the reasons for the increasing rates of corporate bankruptcy in the 1980s. The authors go on to explore the incentives for investing in bankrupt firms and offer pointers for investors considering such a move. In order to provide the reader with the tools necessary to evaluate potential investment opportunities, the authors also describe the reasons for corporate financial failure, the effects of reorganization on a firm, the differences between old and new bankruptcy laws, and the legal settlement of bankruptcy claims. An analytical model for predicting successful reorganization--and thus a potentially lucrative investment target--is described and illustrated as are models of stock market efficiency. The study concludes with four detailed case studies that illustrate the process of bankruptcy and the possible investment outcomes. The text is accompanied by numerous explanatory tables and figures.

Buying and Selling Distressed Businesses

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Author :
Publisher : Thomson West
ISBN 13 : 9780314207852
Total Pages : 450 pages
Book Rating : 4.2/5 (78 download)

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Book Synopsis Buying and Selling Distressed Businesses by :

Download or read book Buying and Selling Distressed Businesses written by and published by Thomson West. This book was released on 2009 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Buying and Selling Distressed Businesses is an authoritative, insiders perspective on key strategies for transactions involving distressed businesses both before and after a bankruptcy filing. Featuring partners from some of the nations leading law firms, these experts guide the reader through the advantages and disadvantages of various types of transactions from the perspective of both the buyer and seller. These top lawyers offer tips on determining readiness to sell, undertaking appropriate due diligence, and effectively negotiating in todays economic climate. Additionally, these authors highlight the most common pitfalls for distressed company officers and directors, including a discussion of illustrative cases such as Bridgeport Holdings and The Brown Schools, and practical steps that can be undertaken to mitigate potential risks. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts around the keys to navigating this ever-evolving area of law.

Buying and Selling Distressed Businesses

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Author :
Publisher : Aspatore Books
ISBN 13 : 9780314270924
Total Pages : 350 pages
Book Rating : 4.2/5 (79 download)

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Book Synopsis Buying and Selling Distressed Businesses by :

Download or read book Buying and Selling Distressed Businesses written by and published by Aspatore Books. This book was released on 2010 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Buying and Selling Distressed Businesses provides an authoritative, insiders perspective on best practices for engaging in distressed business sales in the wake of the global economic recession. Featuring partners from some of the nations leading law firms, this book guides the reader through the latest trends in distressed business deals and examines why companies are selling now, which industries sectors are active, and the current risks and opportunities involved. From Philadelphia Newspapers and General Growth Properties to General Motors and Chrysler, these top lawyers analyze significant recent cases and how they are continuing to impact todays deal strategies. They evaluate the latest tactics for approaching distressed business transactions for both buyers and sellers and reveal proven guidance for structuring sales, negotiating terms, and navigating the sale and action process. In addition, these leaders discuss avoiding common errors, working effectively with clients, and adapting to a clients changing objectives and investment goals. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts on the keys to success within this ever-evolving field.

Distressed Asset Sales

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (733 download)

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Book Synopsis Distressed Asset Sales by :

Download or read book Distressed Asset Sales written by and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Analyzing Investment Opportunities in Distressed and Bankrupt Companies

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Publisher :
ISBN 13 :
Total Pages : 110 pages
Book Rating : 4.X/5 (2 download)

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Book Synopsis Analyzing Investment Opportunities in Distressed and Bankrupt Companies by : Thomas A. Bowman

Download or read book Analyzing Investment Opportunities in Distressed and Bankrupt Companies written by Thomas A. Bowman and published by . This book was released on 1991 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Vulture Investors

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Publisher : HarperCollins Publishers
ISBN 13 :
Total Pages : 420 pages
Book Rating : 4.4/5 (91 download)

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Book Synopsis The Vulture Investors by : Hilary Rosenberg

Download or read book The Vulture Investors written by Hilary Rosenberg and published by HarperCollins Publishers. This book was released on 1992 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: About cases of bankruptcy in the United States in the early 1990s.

Acquisitions from Financially Distressed Companies

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Acquisitions from Financially Distressed Companies by : Thomas J. Salerno

Download or read book Acquisitions from Financially Distressed Companies written by Thomas J. Salerno and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: " ... offers six strategies for acquiring the assets of a distressed company, and then covers four main procedures for selling or purchasing assets through a bankruptcy proceeding. The publication also includes a handy chart detailing the differences between 363 sales and nonbankruptcy sales of a distressed company's assets"--Publisher's website

Investing in Bankruptcies and Turnarounds

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Publisher : Harpercollins
ISBN 13 : 9780887304590
Total Pages : 539 pages
Book Rating : 4.3/5 (45 download)

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Book Synopsis Investing in Bankruptcies and Turnarounds by : Sumner N. Levine

Download or read book Investing in Bankruptcies and Turnarounds written by Sumner N. Levine and published by Harpercollins. This book was released on 1991 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Corporate Financial Distress and Bankruptcy 3E with Applied Mergers and Acquisitions Set

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 9780470546062
Total Pages : 1029 pages
Book Rating : 4.5/5 (46 download)

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Book Synopsis Corporate Financial Distress and Bankruptcy 3E with Applied Mergers and Acquisitions Set by : Edward I. Altman

Download or read book Corporate Financial Distress and Bankruptcy 3E with Applied Mergers and Acquisitions Set written by Edward I. Altman and published by John Wiley & Sons. This book was released on 2009-04-25 with total page 1029 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more. Edward I. Altman (New York, NY) is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. He received his MBA and PhD in finance from the University of California, Los Angeles. Edith Hotchkiss (Chester Hill, MA) is Associate Professor of Finance at Boston College. She received her PhD from the Stern School of Business and her BA from Dartmouth College.

Creating Value Through Corporate Restructuring

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Publisher : John Wiley & Sons
ISBN 13 : 0470503521
Total Pages : 852 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Creating Value Through Corporate Restructuring by : Stuart C. Gilson

Download or read book Creating Value Through Corporate Restructuring written by Stuart C. Gilson and published by John Wiley & Sons. This book was released on 2010-04-05 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated look at how corporate restructuring really works Stuart Gilson is one of the leading corporate restructuring experts in the United States, teaching thousands of students and consulting with numerous companies. Now, in the second edition of this bestselling book, Gilson returns to present new insight into corporate restructuring. Through real-world case studies that involve some of the most prominent restructurings of the last ten years, and highlighting the increased role of hedge funds in distressed investing, you'll develop a better sense of the restructuring process and how it can truly create value. In addition to "classic" buyout and structuring case studies, this second edition includes coverage of Delphi, General Motors, the Finova Group and Warren Buffett, Kmart and Sears, Adelphia Communications, Seagate Technology, Dupont-Conoco, and even the Eurotunnel debt restructuring. Covers corporate bankruptcy reorganization, debt workouts, "vulture" investing, equity spin-offs, asset divestitures, and much more Addresses the effect of employee layoffs and corporate downsizing Examines how companies allocate value and when a corporation should "pull the trigger" From hedge funds to financial fraud to subprime busts, this second edition offers a rare look at some of the most innovative and controversial restructurings ever.

Quantitative Analytics in Debt Valuation & Management

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Author :
Publisher : McGraw Hill Professional
ISBN 13 : 0071790624
Total Pages : 337 pages
Book Rating : 4.0/5 (717 download)

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Book Synopsis Quantitative Analytics in Debt Valuation & Management by : Mark Guthner

Download or read book Quantitative Analytics in Debt Valuation & Management written by Mark Guthner and published by McGraw Hill Professional. This book was released on 2012-05-21 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: A breakthrough methodology for profiting in the high-yield and distressed debt market Global advances in technology give investors and asset managers more information at their fingertips than ever before. With Quantitative Analytics in Debt Valuation and Management, you can join the elite club of quantitative investors who know how to use that information to beat the market and their competitors. This powerful guide shows you how to sharpen your analytical process by considering valuable information hidden in the prices of related assets. Quantitative Analytics in Debt Valuation and Management reveals a progressive framework incorporating debt valuation based on the interrelationships among the equity, bond, and options markets. Using this cutting-edge method in conjunction with traditional debt and equity analysis, you will reduce portfolio risk, find assets with the highest returns, and generate dramatically greater profits from your transactions. This book’s “fat-free” presentation and easy-to-navigate format jump-starts busy professionals on their way to mastering proven techniques to: Determine the “equity risk” inherent in corporate debt to establish the causal relationship between a company’s debt, equity, and asset values Price and analyze corporate debt in real time by going beyond traditional methods for computing capital requirements and anticipated losses Look with an insider’s eye at risk management challenges facing banks, hedge funds, and other institutions operating with financial leverage Avoid the mistakes of other investors who contribute to the systemic risk in the financial system Additionally, you will be well prepared for the real world with the book’s focus on practical application and clear case studies. Step-by-step, you will see how to improve bond pricing and hedge debt with equity, and how selected investment management strategies perform when the model is used to drive decision making.