Acg december program_distressed assets
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Slides from a panel presentation on acquiring and investing in distressed assets led by Mark Greenberg of Silverstone Advisors.
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TCN on Air: Convertible Debt
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white paper final
- Debt can be used strategically by companies to enhance shareholder value through tax benefits, lower cost of capital, and leverage. However, too much debt can destroy value.
- The stocks of companies with leveraged balance sheets have significantly outperformed less leveraged stocks over the short, medium, and long term, despite higher volatility.
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5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
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一模一样【微信：A575476】【新西兰奥塔哥大学毕业证（otago毕业证）成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
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三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
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→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
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Microsoft’s Digital Transformation Framework
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Acg december program_distressed assets
- 2. Today’s Topic Discovering Distressed Assets: How to Acquire & Divest Our Moderator: Mark Greenberg Silverstone Advisors/Blackbird Capital Group
- 3. Today’s Panelists Steve Fields – First Financial Justin Flood – The Anderson Group Doug Lutz - Frost Brown Todd
- 4. Financial Distress Investopedia’s Definition A condition where a company cannot meet its financial obligations to its creditors. The chance increases when a firm has: • High fixed costs • Illiquid assets • Revenues sensitive to economic downturns • High business concentration (customer, vendor, sector)
- 5. Some Characteristics of Distressed Businesses Stagnant or declining revenues Shrinking or negative margins Lack of Liquidity and Inability to Forecast Cash Requirements Increased Accounts Payable Turnover of CFO, Controller Asset divestitures to increase cash Decreased communication with creditors Increased secured lender oversight (through special assets or workout group) Failure to pay trust fund taxes
- 6. Investor Considerations • How badly in debt is the business? (Secured lender underwater? Subordinate secured debt? Tax liens? Amount of unsecured debt? Who are the largest unsecured creditors & how much owed?) • What needs to be cleaned up, negotiated, etc.? (Secured lender only? Other subordinate secured debt? Landlords? Taxes? Critical trade?) • How much runway is left (is time of the essence to preserve value)?
- 7. Investor Considerations • How much new investment is necessary? • A balance sheet fix, a flawed business model problem, a management problem or all of the aforementioned? • Rescuable as a going concern or better liquidated?
- 10. Strategic Alternatives for Investment or Acquisition Distressed Middle Market Company Strategic Alternatives Strategic Alternatives “Congenial” Acquisition by Means of Asset Purchase Agreement Acquisition by way of UCC Article 9 Transaction Purchase of Business by way of Chapter 11; Sec. 363 Sale of Chapter 11 Invest Additional Capital Article 9 Sale or Chapter 11 Restructure/Continue Going Concern Pursue a Going Concern Sale Refinance with Current/New Lenders Liquidate Distressed Company Acquirer
- 15. Acquiring Distressed Assets Outside of Bankruptcy
- 17. Acquiring Assets from a Bankruptcy Estate: Options
- 18. Acquiring Assets from a Bankruptcy Estate: Benefits
- 19. Acquiring Assets from a Bankruptcy Estate: Risks