Bankruptcy is a formal process geared toward preserving stakeholder value. Often, the proceedings include negotiations between stakeholders that are arduous, time-consuming and expensive. As such, the main focus during bankruptcy tends to be on completing the process, rather than positioning the company for healthy and sustainable growth after emergence.
The International Risk Management Institute defines a Third-Party Administrator (TPA) as a firm that handles various types of administrative responsibilities, on a fee-for-services basis.1 These responsibilities are generally executed for insurance carriers and typically include claims administration, loss control, risk management information systems, and risk management consulting.
The war in Ukraine is now in its fourth month with no visible end in sight to the hostilities and little prospect that the disruptive global economic impacts of the war will dissipate anytime soon. On the contrary, a new $40 billion weapons and aid package to Ukraine by the United States, coupled with 20 other nations pledging further security assistance for Ukraine, and Sweden and Finland applying to join NATO have further ratcheted up tensions between Russia and the Western Alliance nations.
As the U.S. system of restructuring and insolvency gains popularity in Australia and beyond, Carlyn Taylor, Global Co-Leader of the Corporate Finance & Restructuring segment of FTI Consulting, provides her perspective on this growing trend in a Q&A presented by the FTI Journal.
Why are so many chapter 11 retailers squeezed into liquidation?
AN FTI CONSULTING White PAPER DECEMBER 2016
...accounting standards applying to recognition and measurement of a company's assets can be complex and need to be interpreted and applied with care to ensure the valuations are fit for purpose
Asset-based valuations: Valuation floor or flawed valuation?
Mark Bezant and David Rogers
Synopsis
When Detroit filed for Chapter 9 bankruptcy on July 18, 2013, it was the largest municipal bankruptcy filing in U.S. history. The bankruptcy court calculated Detroit to be $18.5 billion in debt.