Bankruptcy Investing How To Profit From Distressed Companies

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Bankruptcy Investing - How to Profit from Distressed Companies

Author : Ben Branch,Hugh Ray
Publisher : Beard Books
Page : 326 pages
File Size : 42,8 Mb
Release : 2007-02
Category : Business & Economics
ISBN : 9781587982910

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Bankruptcy Investing - How to Profit from Distressed Companies by Ben Branch,Hugh Ray Pdf

This topical and easily understood handbook explains how bankruptcy can affect a corporation and its capital structure and how investors can profit from the corporate bankruptcy process.

Bankruptcy Investing

Author : Ben Branch,Hugh Ray
Publisher : Unknown
Page : 0 pages
File Size : 50,5 Mb
Release : 2002
Category : Bankruptcy
ISBN : 1587981211

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Bankruptcy Investing by Ben Branch,Hugh Ray Pdf

Two experts in the legal and financial aspects of bankruptcy investing present this text for serious investors considering investment in the securities of troubled companies. The focus is on publicly traded instruments, but nonpublic securities are also discussed.

Distress Investing

Author : Martin J. Whitman,Fernando Diz
Publisher : John Wiley & Sons
Page : 277 pages
File Size : 53,9 Mb
Release : 2009-04-13
Category : Business & Economics
ISBN : 9780470117675

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Distress Investing by Martin J. Whitman,Fernando Diz Pdf

Financial innovation, new laws and regulations, and the financial meltdown of 2007–2008 are just a few of the forces that have shaped, and continue to shape, today's distress investment environment. Combine this with the fact that the discipline of distress investing doesn't always follow what conventional wisdom says, and you can see why it is one of the most challenging areas in finance. Nobody understands this better than Martin Whitman—the legendary founder of Third Avenue Management LLC and a pioneer in the field of distressed markets—and leading academic Dr. Fernando Diz of Syracuse University. That's why they decided to write Distress Investing. As an outgrowth of annual distress and value investing seminars the two have taught together at Syracuse University's Martin J. Whitman School of Management, this reliable resource will help you gain a better understanding of the essential principles and techniques associated with distress investing and show you how to effectively apply them in the real world. Divided into four comprehensive parts—the General Landscape of Distress Investing, Restructuring Troubled Issuers, the Investment Process, and Cases and Implications for Public Policy—this book comprehensively covers the practice of buy-and-hold investing in distressed credits, whether it be performing loans or the reinstated issues of a reorganized issuer. From the recent changes to U.S. bankruptcy code and creditor rights to cash bailouts, you'll quickly learn how to analyze distressed situations such as pricing issues, arbitrage opportunities, tax disadvantages, and the reorganization of funding plans. Along the way, case studies of both large and small distress investing deals—from Kmart to Home Products International—will give you a better perspective of the business. Critical topics addressed throughout these pages include: Chapter 11 bankruptcy and why it's not considered an ending, but rather a beginning when it comes to distress investing The "Five Basic Truths" of distress investing The difficulty of due diligence for distressed issues Distress investing risks—from reorganization risk to risk associated with the alteration of priority of payments in bankruptcy Valuing companies by both going concern as well as their resource conversion attributes In today's turbulent economic environment, distress investing presents some enticing opportunities. Put yourself in a better position to excel at this endeavor with Distress Investing as your guide.

Distressed Debt Analysis

Author : Stephen G. Moyer
Publisher : J. Ross Publishing
Page : 387 pages
File Size : 42,9 Mb
Release : 2004-11-15
Category : Business & Economics
ISBN : 9781932159189

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Distressed Debt Analysis by Stephen G. Moyer Pdf

Providing theoretical and practical insight, this book presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The author uses numerous real- world examples to demonstrate concepts and critical issues. Readers will understand the chess-like, multi- move strategies necessary to achieve financially advantageous results.

Investing in Financially Distressed Firms

Author : Murali Ramaswami,Susan Moeller
Publisher : Praeger
Page : 200 pages
File Size : 45,9 Mb
Release : 1990-01-22
Category : Business & Economics
ISBN : UCSC:32106009349041

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Investing in Financially Distressed Firms by Murali Ramaswami,Susan Moeller Pdf

This comprehensive new study examines the impact of the 1978 Bankruptcy Reform Act on firms that file under Chapter 11 and on investors who own shares or bonds in financially distressed corporations. Demonstrating that high average returns often accompany wise investment choices concerning bankrupt firms, the authors explain how to spot potential investment targets, assess investment risk, and profit from investing in firms undergoing reorganization following a bankruptcy filing. Both individual and institutional investors looking for new investment opportunities and students of corporate finance and financial management will find important new insights into the investment potential of financially distressed firms. Investing in Financially Distressed Firms represents a good buy for those who would like to hunt bargains in the broken angel sector of the market. Journal of High Yield Bond Research This comprehensive new study examines the impact of the 1978 Bankruptcy Reform Act on firms that file under Chapter 11 and on investors who own shares or bonds in financially distressed corporations. Demonstrating that high average returns often accompany wise investment choices concerning bankrupt firms, the authors explain how to spot potential investment targets, assess investment risk, and profit from investing in firms undergoing reorganization following a bankruptcy filing. The legal issues involved in investing in bankrupt firms, the environment within which the bankrupt firm operates, and the relationship between stock market efficiency and bankrupt firms also receive thorough coverage. Both individual and institutional investors looking for new investment opportunities and students of corporate finance and financial management will find here important new insights into the investment potential of financially distressed firms. The volume begins with an introduction which sets the stage for the discussion that follows by describing the reasons for the increasing rates of corporate bankruptcy in the 1980s. The authors go on to explore the incentives for investing in bankrupt firms and offer pointers for investors considering such a move. In order to provide the reader with the tools necessary to evaluate potential investment opportunities, the authors also describe the reasons for corporate financial failure, the effects of reorganization on a firm, the differences between old and new bankruptcy laws, and the legal settlement of bankruptcy claims. An analytical model for predicting successful reorganization--and thus a potentially lucrative investment target--is described and illustrated as are models of stock market efficiency. The study concludes with four detailed case studies that illustrate the process of bankruptcy and the possible investment outcomes. The text is accompanied by numerous explanatory tables and figures.

Distressed Securities

Author : Edward I. Altman
Publisher : Beard Books
Page : 252 pages
File Size : 54,8 Mb
Release : 1999
Category : Business & Economics
ISBN : 1893122042

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Distressed Securities by Edward I. Altman Pdf

Corporate Financial Distress and Bankruptcy

Author : Edward I. Altman,Edith Hotchkiss
Publisher : John Wiley & Sons
Page : 439 pages
File Size : 46,5 Mb
Release : 2010-03-11
Category : Business & Economics
ISBN : 9781118046043

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Corporate Financial Distress and Bankruptcy by Edward I. Altman,Edith Hotchkiss Pdf

A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more.

Creating Value Through Corporate Restructuring

Author : Stuart C. Gilson
Publisher : John Wiley & Sons
Page : 852 pages
File Size : 45,7 Mb
Release : 2010-04-05
Category : Business & Economics
ISBN : 9780470503522

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Creating Value Through Corporate Restructuring by Stuart C. Gilson Pdf

An updated look at how corporate restructuring really works Stuart Gilson is one of the leading corporate restructuring experts in the United States, teaching thousands of students and consulting with numerous companies. Now, in the second edition of this bestselling book, Gilson returns to present new insight into corporate restructuring. Through real-world case studies that involve some of the most prominent restructurings of the last ten years, and highlighting the increased role of hedge funds in distressed investing, you'll develop a better sense of the restructuring process and how it can truly create value. In addition to "classic" buyout and structuring case studies, this second edition includes coverage of Delphi, General Motors, the Finova Group and Warren Buffett, Kmart and Sears, Adelphia Communications, Seagate Technology, Dupont-Conoco, and even the Eurotunnel debt restructuring. Covers corporate bankruptcy reorganization, debt workouts, "vulture" investing, equity spin-offs, asset divestitures, and much more Addresses the effect of employee layoffs and corporate downsizing Examines how companies allocate value and when a corporation should "pull the trigger" From hedge funds to financial fraud to subprime busts, this second edition offers a rare look at some of the most innovative and controversial restructurings ever.

Workouts and Turnarounds

Author : Dominic DiNapoli,Sanford C. Sigoloff,Robert Frank Cushman
Publisher : Irwin Professional Publishing
Page : 824 pages
File Size : 54,5 Mb
Release : 1991
Category : Corporate reorganizations
ISBN : UOM:49015001279331

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Workouts and Turnarounds by Dominic DiNapoli,Sanford C. Sigoloff,Robert Frank Cushman Pdf

Investing in Bankruptcies and Turnarounds

Author : Sumner N. Levine
Publisher : Harpercollins
Page : 539 pages
File Size : 42,5 Mb
Release : 1991
Category : Business & Economics
ISBN : 0887304591

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Investing in Bankruptcies and Turnarounds by Sumner N. Levine Pdf

Why Companies Fail

Author : Harlan D. Platt
Publisher : Beard Books
Page : 182 pages
File Size : 43,6 Mb
Release : 1999
Category : Business & Economics
ISBN : 1893122050

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Why Companies Fail by Harlan D. Platt Pdf

From Debra Ann Hatten - The Christian Science Monitor (Eastern edition) This book, written for the nonfinancial reader, records conventional reasons for business failure: cash-flow problems, taking on too much debt, and starting out with too little capital. But it continues where other books may stop, pointing out to those who are nearly bankrupt how to avoid bankruptcy. It describes reorganization techniques that have pulled companies out of the holein recent years--such as refocusing market niches and converting debt into stock. The book uses minicases to illustrate these methods. The author also gives potential investors a score card to select potential turnaround companies when picking up the high-risk, high-yield bonds (not stocks) of near-bankrupt or bankrupt companies.

Corporate Financial Distress, Restructuring, and Bankruptcy

Author : Edward I. Altman,Edith Hotchkiss,Wei Wang
Publisher : John Wiley & Sons
Page : 374 pages
File Size : 46,8 Mb
Release : 2019-03-26
Category : Business & Economics
ISBN : 9781119481805

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Corporate Financial Distress, Restructuring, and Bankruptcy by Edward I. Altman,Edith Hotchkiss,Wei Wang Pdf

A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.

Distressed Investment Banking

Author : Henry Furlow Owsley,Peter S. Kaufman
Publisher : Beard Books
Page : 236 pages
File Size : 49,9 Mb
Release : 2005
Category : Business & Economics
ISBN : 9781587982675

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Distressed Investment Banking by Henry Furlow Owsley,Peter S. Kaufman Pdf

The definitive work on the role of the investment banker in a troubled company situation.