Not looking for a textbook, more like a restructuring focused version of Barbarians at the Gate or Going Infinite
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Caesars palace coup.
Also if you’re interested try reading court docs of recent bankruptcies that were completed, I find that stuff pretty interesting, gives you detailed info on how the company went under and what their trying to do with bankruptcy
Just ordered! And great call on court docs
Agreed. First day declarations are a good starting point. They are meant to be an opportunity for the company/management to tell their “story” and will contain bias, but will also include company info (history, products/services), how they wound up in Ch 11, capital structure details, etc.
Where do you find these?
Caesar's Palace
Pari Passu newsletter has good write ups (subscribe on substack)
Default by Gregory Makoff
Great book
Anything for modelling beyond a wall st prep course before hitting the rx desk? The models on the job tend to be all pretty unique case to case , just wanna get a few reps
I've never heard of anyone actually doing rx specific stuff. If you can nail on-cycle PE / distressed interviews, which you might be prepping anyway, that's enough to hit the ground running.
Distressed debt analysis by Moyer
Vulture Investors is an old classic
Maybe not as much rx based, but really good for the history - predators ball
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Haha the last two books I read were Barbarians at the Gate and Going Infinite. Both great and well written books. I started reading Caesars Palace Coup. Its pretty good but not as engaging or as well written. It has too many unimportant side mentions so I don't think im gonna finish it. Never got into the flow state of reading it like I did with the other two. Let me know what you think of it.
Interesting take. Feel like Caesers is one of the most phenomenal books and almost everyone in rx can probably agree. Written so well, and can be understood by those not even in restructuring. The reason it has so many ‘sides’ is because it is the one of the most complicated restructurings ever. Finish the book, you will realize it’s not side stories, just detail needed to explain the story
It’s a fun book for anyone in the distressed/restructuring community because you worked with or met (or at least been on the phone/zoom with) almost all of the named characters and know their personalities
Credit Investor's handbook was pretty interesting for me, although I've never worked in RX so not sure how relevant it is to the job but a really good primer on credit investing and lists many prolific bankruptcies if you'd like to check them out through your own research.
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