Comments (29)

Dec 8, 2011

I have been reading "Distressed Investment Banking: To the Abyss and Back" and would give it a B-. Good introduction to the restructuring space and the unique characteristics of the work involved, but also sort of reads like an advertisement for the firm the author's founded.

Dec 8, 2011

A lot of questions about debt I would assume, and possibly some questions about LBO's since a lot of companies I know use LBO's models to analyze debt structuring for over levered companies. Also depends on the firm you're interviewing and the credentials of the people working there. At a boutique shop you may just encounter the run of the mill IB questions.

'We're bigger than U.S. Steel"

Dec 8, 2011

distressed-debt-investing.com

It might also be an idea to read investor letters from firms specializing in distressed debt. If anyone has an idea which investors focus on distressed debt I would love to hear.

Dec 8, 2011

Thanks for the input.

I've been reading up on distressed debt, lev fin, etc. Just want to be able to put the puzzle pieces together to get a well rounded understanding of what restructuring is -- so thanks for the resources

Dec 8, 2011

Distressed Debt Analysis by Stephen G. Moyer... one of the best books on the concept / practice of restructuring and plugged by the bros in HL's FRG who do quite well...

'Before you enter... be willing to pay the price'

Dec 8, 2011

you probably don't have time to read through everything here, but in addition to Moyer's book, I would recommend The Art of Distressed M&A - has a lot of the concepts that you'll come across; additionally it's more recent so it captures the legal changes from the recent bankruptcy update and it goes into details of the accounting implications of distressed.

Dec 8, 2011

HL does an amazing walkthrough of the entire distressed M&A process. I would read this instead of all the other recommendations above. Its pretty concise (60 pages) and if you get a grasp of the basic ideas of the case study, you'll be golden.
http://www.hl.com/library/bsttcacs.pdf

Dec 8, 2011

Thanks again guys

Dec 8, 2011

If you're a complete newbie to the process, then id structure it as follows:
1. Stephen Moyer's book distressed debt analysis
2. HL's case study
3. Marty Whitman's distress investing principles and techniques

Then go through some of the more substantive posts on distressed-debt-investing.com

Dec 9, 2011

Thanks for the HL file.

Dec 9, 2011
Walkerr:

Thanks for the HL file.

Read the whole case today during work. Very helpful/illustrative.

Dec 9, 2011

+1 on Moyer's book. Very good conceptual overview of distressed investing. He's an interesting dude.

Nov 5, 2012

Thanks for the HL file it was a great read! I think I am almost prepared for my PwC Corporate Advisory & Restructuring interview now!

Nov 5, 2012
Tony_Stark:

Thanks for the HL file it was a great read! I think I am almost prepared for my PwC Corporate Advisory & Restructuring interview now!

Ironman, with PwC tread carefully. If they're one of a few options, undoubtedly it's a good opportunity, but banks RX teams (HLHZ, Laz, Moelis) and big 4 are fundamentally a different product offerings.

also mention the Biffa ongoing restructuring to make them wet (assuming you're talking to UK PwC), they're advising the snr lenders

Nov 5, 2012

Hi, wondering if you know how I should prepare to restructuring technical qns? Thanks!

Nov 5, 2012

pacer.

Nov 5, 2012

Debtwire is a good one. TheDeal.com, Daily Bankruptcy Review...

Nov 5, 2012

debtwire is real good, are there any good ones that are free though?

Nov 5, 2012

.

Nov 5, 2012

ditto on debtwire..

freebies? not that i know of.

may want to consider setting up google news alerts on ur gmail with words such as bankruptcy, covenant breach, etc.

or start following these "distressed" industries (which is basically every industry right now) with a focus on retailers, gaming & casinos, chemicals, etc.

The world has changed. And we must change with it.

I'm making it up as I go along.

Nov 5, 2012
Nov 5, 2012

A couple I have found and some rss feeds are below. Not great, but they are on topic. Ch. 11 is really just a laundry list of filings.

http://www.chapter11blog.com/ http://netdockets.wordpress.com/feed/
http://distresseddebt.dealflowmedia.com/rss.xml

Nov 5, 2012

Does anyone know if when you log into Debtwire under the same account details as someone already logged in if you push them out?

Nov 5, 2012
Oreos:

Does anyone know if when you log into Debtwire under the same account details as someone already logged in if you push them out?

Yeah I think so, one time I logged in and the next thing you know I heard screams on the other side of the building. When I logged in I pushed the lady off the side of the building

kind regards

BinBan

I'm gonna get that bish some binary

Bishes love binary

Kind Regards,

Bin_Ban

    • 1
Nov 5, 2012
Comment