Why Restructuring
Whats the best/ ideal answer for why restructuring?
My thoughts: truly understanding a distressed company would give you an understanding of the fundamentals of what keeps a company afloat.
Any suggestions?
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You can talk about it giving you a more detailed understanding of the capital structure. If it fits your profile, you could say the legal aspects are also interesting to you. You could say that banks can add the most value by advising companies most in need.
Thanks for the response. I actually do have a genuine interest in the legal aspect, but this interest recently sparked. So basically I have M&A internships and my resume is geared to that. Anything you think I should do to steer myself towards the legal/rx side?
No, it's impossible. The only people who get restructuring jobs are those who have had restructuring internships, and the only people who get restructuring internships are mysterious prodigies with an inherent mastery of financial distress.
All kidding aside, you'll be fine if you're smart/aggressive. It's the nature of the industry.
haha, I see what your saying...just want to up my chances.
Any ideas of things to do to show interest in legal/rx side? I have read the HL distressed guide and some other books as well.
you like the game theory aspect. when a restructuring happens people get in a room with their ultimate strategy is to work out how to hurt the other guy the most and then inflict this pain on this zero sum game using at their negotiating leverage. everyone knows this, it's a fight. to me, sounds awesome.
Bang on. Also the aspect that something needs to happen - a company never really needs to sell in M&A and buyers/sellers/both can get cold feet. In restructuring, you want to exit bkrptcy and get things sorted out asap.
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