Distressed Situations

Five things to consider when you have a defaulted loan

Fri, 27 Jan 2023 09:53:22 -0500

In this episode, Amber Sefert of Trimont Real Estate Advisors joins Reed Smith partner Keith Aurzada to discuss the basics to loan defaults and workouts.

Know the options: The Cape Town Convention

Thu, 18 Aug 2022 12:03:20 -0400

Kathleen Garrett is joined by Andrew Harper to review the Cape Town Convention. They discuss questions such as what is the Cape Town Convention, and how does it apply to the aviation industry in insolvency proceedings? What and whom does it apply to? What are the biggest challenges facing Cape Town Convention aviation-related restructures?

Distressed UK energy supply market: A whistle-stop tour

Thu, 14 Jul 2022 10:02:50 -0400

Kathleen Garrett takes you on a whistle-stop tour of distress in the UK energy supply market in Q4 2021, the applicable insolvency procedures, and likely reform measures six months on.

Aviation restructuring: Global trends on application of CTC Protocol to insolvency proceedings

Tue, 14 Jun 2022 09:40:48 -0400

As part of our commitment to help clients know the options, London-based Reed Smith Restructuring & Insolvency partner Kathleen Garrett explores the positions of global courts regarding which insolvency proceedings fall within the ambit of Alternative A of Article XI of the Aircraft Protocol to the Cape Town Convention on International Interests in Mobile Equipment (CTC), and what this means for frequently needed restructuring reliefs, such as repudiation and amendment of contracts and repossession of affect assets.

Independent directors in distressed situations

Thu, 09 Dec 2021 13:00:22 -0500

Reed Smith partner Keith Aurzada is joined by former bankruptcy judge Leif Clark for a discussion of how independent directors can assist in navigating difficult waters for members of boards of directors.

Investment bankers and distress: Protection and optionality

Wed, 17 Nov 2021 12:42:04 -0500

President and Head of Restructuring and Distressed M&A of Gordian Group, Peter Kaufman, discusses the value of investment banking services to distressed companies. Joined by Reed Smith partner Keith Aurzada, Peter gives a “lighting round” description of a number of investment banking terms and concepts (and the occasional movie reference).

Mediation: When time is of the essence

Tue, 09 Nov 2021 11:53:08 -0500

Reed Smith partner Keith Aurzada and principal at Novo Advisors, retired Reed Smith partner Claudia Springer tackle the subject of mediation in difficult financial disputes. Claudia shares insight into how mediation helps parties understand the value of settlement and resolution, over allowing important disputes to linger.

The beauty industry: An ounce of prevention is worth a pound of cure

Tue, 26 Oct 2021 11:05:24 -0400

The beauty industry is being disrupted by various business and legal issues. Danielle Garno, a Reed Smith partner who focuses her practice on this industry, provides her insights in this constantly changing sector.

Understanding working capital improvement

Thu, 14 Oct 2021 13:52:13 -0400

Reed Smith’s Keith Aurzada joins John Little of Deloitte Transactions and Business Analytics LLP for a discussion of just what working capital is, and how improving working capital can lead to cash balance improvements.

The current state of the beauty industry

Tue, 28 Sep 2021 13:19:46 -0400

Mike Musso of KPMG joins Reed Smith’s Keith Aurzada for a discussion about the beauty industry. Mike provides valuable insight into recent disrupters in the industry including fragmentation, the direct-to-consumer phenomenon, and the impacts of COVID-19.

Commercial real estate and issues involving forbearance and receiverships

Thu, 09 Sep 2021 11:30:22 -0400

Reed Smith partner Keith Aurzada is joined by Amber Sefert of Trimont for a discussion of a lender’s perspective on forbearance and receiverships. While these items are most often specific to each individual case, Amber does an excellent job of describing the basic terms for forbearance agreements and receiverships.

Understanding liquidity management

Thu, 26 Aug 2021 13:39:42 -0400

Steven Fleming of PricewaterhouseCoopers joins Keith Aurzada of Reed Smith to talk about the challenges of liquidity management in times of distress. Steven walks through the process of cash forecasting and demystifies the thirteen week cash flow forecast (a/k/a the “Thirteen Weeker”).

Reed Smith’s Kerlin explains distress and the hardest hit industries

Thu, 12 Aug 2021 10:12:16 -0400

If you can recognize the warning signs of oncoming distress, you might be able to duck some of the damage. Pittsburgh-based associate Amy Kerlin shares ways to recognize such warning signs and what do to about them. Amy’s focus on clear and consistent communication brings a fresh look on what can be a difficult topic.

Perspectives from the Reed Smith Team on restructuring

Thu, 29 Jul 2021 08:50:15 -0400

Keith Aurzada and Michael Venditto share insights about the current restructuring environment, as well as some anecdotes about practicing bankruptcy law.

Valuation in distressed situations

Thu, 15 Jul 2021 10:14:23 -0400

Distressed Situations host Keith Aurzada discusses issues in valuation with Stephen DuPlantis, a career valuation professional who has valued assets all across North America, including the iconic King Ranch.

Demystify bankruptcy sales and reap the benefits

Thu, 01 Jul 2021 10:17:23 -0400

Asset sales under Section 363 of the Bankruptcy Code are a restructuring tool that can benefit buyers, as well as sellers and their creditors. Michael Venditto, a member of Reed Smith’s Restructuring and Insolvency team, joins Getzler Henrich & Associates Managing Director Mark Podgainy to explain the risks, benefits and opportunities of the sale process in Chapter 11 cases.

Restructuring in Europe and the United States in 2021

Wed, 23 Jun 2021 11:11:29 -0400

Members of Reed Smith’s international restructuring practice – Volker Kammel in Frankfurt, Patrick Schumann in London, and Michael Venditto in New York – have a transatlantic conversation about restructuring options in Germany, the United Kingdom and the United States.

Restaurant and retail distress

Thu, 03 Jun 2021 14:33:48 -0400

The restaurant and retail industries were among the hardest hit by lockdowns this past year, and some locations failed while others persevered. Peak Franchise Capital founder and Managing Partner Mike Elliott and Reed Smith partner Keith Aurzada describe how this important sector used ingenuity to make it through this difficult time, and how it looks going into the future.

For more information, please visit Reed Smith's Restructuring & Insolvency page or follow us on our Financial Industry Group Linkedin.

The road to recovery in the hospitality industry

Tue, 18 May 2021 09:21:08 -0400

What will it take for a full recovery of the hospitality sector – including restaurants, hotels, casinos, group travel and the cruise industry? Reed Smith Restructuring partner Michael Venditto and Ankura Managing Director Alex Sorokin discuss the state of the industry now and possible rebound scenarios in 2021.

For more information, please visit Reed Smith's Restructuring & Insolvency page or follow us on our Financial Industry Group Linkedin.

How to educate your business team on common bankruptcy issues

Tue, 04 May 2021 11:02:05 -0400

Reed Smith restructuring partner Michael Venditto and Andrea Pincus, senior counsel at Santander Bank, discuss the business challenges faced by in-house counsel during the pandemic and the environment that lenders expect over the coming months.

For more information, please visit Reed Smith's Restructuring & Insolvency page or follow us on our Financial Industry Group Linkedin.

Exploring the sale of Gold's Gym

Tue, 20 Apr 2021 10:31:12 -0400

Reed Smith restructuring partner Keith Aurzada joins Mark Shapiro and Frank Cottrell of B. Riley Financial to talk about their representation of Gold’s Gym and how they sold the retail concept in the middle of COVID-19. Our speakers also discuss receivership issues that apply in the current financial environment.

For more information, please visit Reed Smith's Restructuring & Insolvency page or follow us on our Financial Industry Group Linkedin.

Pre-bankruptcy issues and the dreaded preference

Tue, 06 Apr 2021 14:28:19 -0400

Restructuring partner Keith Aurzada is joined by Turnaround Professionals Director Sam Heigle (a former CEO of several companies) to discuss pre-bankruptcy issues and the dreaded preference. The episode covers unwinding deals made with creditors, as well as the 2020 amendment to the U.S. bankruptcy code.

For more information, please visit Reed Smith's Restructuring & Insolvency page or follow us on our Financial Industry Group Linkedin.

A health care industry on life support?

Tue, 23 Mar 2021 14:09:49 -0400

The health care industry is under a new set of financial, operational and structural stressors, but management can implement strategies to address these challenges. Hear from Mark Toney, senior managing director of Toney Korf Partners, and Reed Smith restructuring partner Michael Venditto for insights on how to respond.

For more information, please visit Reed Smith's Restructuring & Insolvency page or follow us on our Financial Industry Group Linkedin.

The JCPenney Bankruptcy: An inside view from a shareholder perspective

Tue, 16 Mar 2021 09:23:00 -0400

With the launch of our new podcast channel, Distressed Situations, Reed Smith restructuring partner Keith Aurzada joins CR3 Partners William Snyder and Dawn Ragan, both of whom served as financial advisors to the equity committee in the JCPenney case. Our speakers explain the valuation of JCPenney assets and how restructuring support agreements shaped this case.

For more information, please visit Reed Smith's Restructuring & Insolvency page or follow us on our Financial Industry Group Linkedin.