Pivot to Cash ™: Bankruptcy & Restructuring in a Distressed Environment
In this webinar experts from Alvarez and Marsal, a global professional services firm, explore the current trends in turnarounds and restructuring and what it means for distressed companies in today’s environment.
In this 60 minute webinar, experts discuss:
- Restructuring opportunities in/out of court to mitigate business disruptions
- A&M’s “Restructuring 101 Playbook”
- Business combination alternatives, including M&A
- M&A considerations in Q4
- Identifying, planning and prioritizing liquidity levers
Managing Director and Co-Head of Eastern Region Restructuring Practice | Alvarez & Marsal
Brian J. Fox is a Managing Director with Alvarez & Marsal and Co-Head of the firm’s Eastern Region Restructuring practice. He specializes in providing a full range of financial advisory, operational improvement and interim management services in restructurings and other special situations, both in court and outside of bankruptcy.
Mr. Fox has more than 25 years of experience advising companies and other parties-in-interest across industries including aerospace, defense, manufacturing, mining, shipping, gaming, chemicals, retail and staffing.
Mr. Fox specializes in developing operational improvement programs around customer and product profitability, working capital reduction and expense reduction. He assists companies in the review and development of cash flow and liquidity forecasts, strategic and operating plans, capital structure alternatives, and the development, negotiation and implementation of restructuring transactions.
Among his significant engagements, Mr. Fox advised Caesars Entertainment Operating Company in its Chapter 11 restructuring, Momentive Performance Materials in its pre-packaged Chapter 11 restructuring, and a $1 billion steel company in the enhancement of its financial planning and analysis function. He assisted a $700 million aggregates and heavy construction company in the review of its operating plan, a privately held manufacturer of recycled paper products in identifying a series of performance enhancement programs, and a $500 million chemical manufacturer in the integration of two transformative merger transactions. Learn more
Managing Director and Leader of Restructuring Tax Practice | Alvarez & Marsal Taxand
Christopher Howe is a Managing Director with Alvarez & Marsal Taxand, LLC in New York. Mr. Howe has over 20 years of experience and focuses on restructuring tax matters and mergers and acquisitions transactions.
Chris leads the firms Restructuring Tax Service (“RTS”) initiative, which aligns with A&M’s core restructuring business to assist distressed companies with complex tax matters. He has a deep understanding of tax matters pertaining to troubled companies, bankruptcy reorganizations, workouts and restructurings. He was part of A&M’s tax team advising on the federal tax aspects of numerous out of court restructurings as well as in court Chapter 11 bankruptcy proceedings. He has advised a significant number of public and private “loss” companies (both pre- and post-bankruptcy) on the viability of their tax attributes including Section 382 (l)(5) planning as well as the effect of debt discharge income and the application of the consolidated return rules. Mr. Howe leads the national Section 382 practice and is a subject matter specialist in NOL preservation and planning.
Mr. Howe has significant experience on transactional and general corporate tax matters. He brings experience in private equity, corporate tax and accounting, tax planning and tax controversy matters. His professional focus has been on domestic and cross-border mergers and acquisitions, tax due diligence, cash tax modeling, complex carve-out transactions, capital structure planning, reorganizations, group structure changes, entity rationalization, cash and effective tax rate optimization, and integration of existing and acquired businesses. Learn more
Managing Director, Global Transaction Advisory Group | Alvarez & Marsal
Rino Nori is a Managing Director with Alvarez & Marsal Transaction Advisory Group in New York. He brings more than 18 years of transaction experience and has provided financial due diligence services to private equity and corporate clients on more than 650 merger and acquisition transactions valued from $10 million to $15 billion. His experience ranges from transactions involving lower and middle-market acquisition targets to multi-billion-dollar complex cross-border projects.
Mr. Nori's areas of expertise include preparation of analyses which identify key deal issues / risk areas, quantification of items directly impacting transaction valuation (e.g., understanding normalized EBITDA, working capital requirements, debt items) and analysis of key performance indicators. Furthermore, he has advised on the drafting of sale and purchase agreements, including purchase price mechanisms, financial statement representations and transaction services arrangements.
Mr. Nori leads A&M’s Sell-Side Due Diligence practice and also co-leads the firm’s Restaurant Transactions practice. He has worked with clients across a range of industries including industrial manufacturing, chemicals, distribution, business services, consumer products, restaurant, retail, entertainment, publishing and information services.
Prior to joining A&M, Mr. Nori was with the transaction services unit of PricewaterhouseCoopers (PwC) in New York, where he served and advised premier clients including several mega-private equity funds. At PwC, he spent two years in London advising U.K. and European-based private equity and strategic clients, performing financial due diligence that tested and challenged management budgets and forecasts, drafting traditional European "long form" reports and leading complex vendor due diligence assignments. Learn more