Schulte Roth & Zabel Announces Addition of Distressed Investing and Restructuring Lawyer Douglas S. Mintz – Business Wire

NEW YORK–(BUSINESS WIRE)–Schulte Roth & Zabel (SRZ), a leading law firm serving the financial services industry, has announced the addition of Douglas S. Mintz as a partner and co-chair of the Business Reorganization Group. Mr. Mintz is resident in the Washington, DC office. He was previously a partner at Orrick, Herrington & Sutcliffe. Mr. Mintzs…

Coronavirus Downturn Drives Booming Business for Restructuring Pros – The Wall Street Journal

The business of restructuring troubled companies is thriving during the Covid-19 pandemic, driving revenues higher at several publicly traded investment banks and other financial advisers as their clients default on debt and seek concessions from creditors. Investment banks including PJT Partners Inc. and Houlihan Lokey Inc. notched quarterly revenue records in the first nine months…

Nok Air green-lit to pursue restructuring | News | Flight Global – Flightglobal

Nok Airhas gained court approval to restructure under a business-rehabilitation process. In a 4 November notice to the Thai stock exchange, Nok chief executive Wutthiphum Jurangkool states that the central bankruptcy court has ordered granting the company to be in business rehabilitation. The court has appointed the Nok chief plus four other individuals, and Grant…

PREIT, co-owner of Lehigh Valley Mall, files for bankruptcy with plans to quickly restructure – The Morning Call

PREIT, co-owner of Lehigh Valley Mall in Whitehall Township and the largest mall owner in Philadelphia, on Sunday filed for Chapter 11 bankruptcy protection with a ready-to-go plan to bolster its financial flexibility and restructure its debt. PREIT had hoped to avoid a bankruptcy filing and reorganize out of court, which would have required the…

Banks emphasise debt rejig, assets – Bangkok Post

KBank maintains a sound capital adequacy ratio at 17.3%.(Photo by Tanaphon Ongarttragoon) Local commercial banks are concentrating on debt restructuring and asset quality rather than business growth amid fragile economic conditions that could linger into next year. Pipatpong Poshyanonda, co-president of Kasikornbank (KBank), said the bank will continue paying attention to helping customers with debt…

FTI Consulting is hiring due to more restructuring and litigation work – Business Insider

The coronavirus pandemic continues to impact the professional services industry, as firms see decreased demand for strategy consulting and increased need for restructuring services. FTI Consulting is expecting the bankruptcy boon to continue, execs said in Thursday’s earnings call, and has hired 431 restructuring professionals in the past year in anticipation. Firm execs are also…

Understanding the New Small Business Reorganization Act – Blog – ABL Advisor

With COVID-19 and the differing attempts by state and local government to contain its spread by various regulations, smaller companies in almost every industry have been negatively affected by state regulations. As a result, some companies impacted by these COVID-19 regulations may find themselves on the brink of insolvency. Until recently, there have been two…