Turnaround Issues

Last year, two very different cases achieved substantial returns to equityholders: Hertz and Garrett Motion. This panel will review how Hertz and Garrett Motion were able to achieve this result, including the circumstances that brought these companies to chapter 11 and the value-maximization strategies employed, the auction processes in each case, and how future tort claims were valued. The panel will also hold a broader discussion regarding the financial advisor’s role in the chapter 11 process from inception to exit.

The panelists will discuss the collapse of the Surfside condominium in Miami, and the resulting receivership and other disasters that have forced insolvency professionals to allocate resources, sometimes importing tort concepts.

In the past year, ending June 30, 2021, there have been 6,871 number of chapter 11 filings nationwide, and only 149 of them were of health care companies. Is there still distress in the industry, or did the U.S.’s stimulus funding correct the distress?

This panel will compare and contrast liquidations and wind-downs under chapter 11, federal and state receiverships, ABCs, and judicial dissolutions. The panelists also will take a look at tools that are available and the risks attendant to each. Which companies are more appropriate for which type of liquidation option: cannabis and related company insolvencies, or higher education institutions?

The global coronavirus pandemic has disrupted the global economy for more than a year creating winners and losers across countries, industries and socio-economic groups. Among the most impacted industries continue to be hospitality, leisure and real estate industries where, despite progress made in vaccinations towards herd immunity, there is no clear recovery timetable in evidence.