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Full Description
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 courtsNavigate through complicated valuation, financing, legal, accounting, and tax issuesCommunicate effectively and make informed proposals in multiparty negotiationsCreate 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.
Contents
Preface and Acknowledgments; Section I: The Big Picture; Chapter 1. Why Do Businesses Fail?; Chapter 2. Alternatives for the Distressed Business; Chapter 3. Trends in Distressed M&A and Investing; Section II: The Bankruptcy Players; Chapter 4. A Debtor & Creditor OverviewChapter 5. Secured Creditors; Chapter 6. Unsecured Creditors; Chapter 7. Advisors & Other Parties; Section III: Avoiding Common Pitfalls; Chapter 8. Accounting for Workouts: TDRs, Extinguishments, and Modifications; Chapter 9. Accounting for Bankruptcy: NOLs and Fresh Start Reporting; Chapter 10. Mitigating Legal Risks in Distressed M&A; Section IV: Deal Structures That Work; Chapter 11. Principles of Distressed Company Valuation; Chapter 12. The Plan of Reorganization; Chapter 13. 363 Sales and Loan-to-Own Transactions; Chapter 14. Financing and Refinancing Considerations; Conclusion