Distress Investing by Whitman, Martin J. -- Read -- Imperial Library of Trantor

Index

Praise Title Page Copyright Page Dedication Foreword Preface Acknowledgements PART One - The General Landscape of Distress Investing

CHAPTER 1 - The Changed Environment

CHAPTER 2 - The Theoretical Underpinning

WHAT MARKET? TOWARD A GENERAL THEORY OF MARKET EFFICIENCY EXTERNAL FORCES INFLUENCING MARKETS EXPLAINED WHAT RISK? CAPITAL STRUCTURE AND CREDIT RISK VALUATION THE COMPANY AS A STAND-ALONE ENTITY CONTROL AND ITS VITAL IMPORTANCE

CHAPTER 3 - The Causes of Financial Distress

LACK OF ACCESS TO CAPITAL MARKETS DETERIORATION OF OPERATING PERFORMANCE DETERIORATION OF GAAP PERFORMANCE LARGE OFF-BALANCE-SHEET CONTINGENT LIABILITIES

CHAPTER 4 - Deal Expenses and Who Bears Them

CHAPTER 5 - Other Important Issues

MANAGEMENT COMPENSATION AND ENTRENCHMENT TAX AND POLITICAL DISADVANTAGES

CAHPTER 6 - The Five Basic Truths of Distress Investing

PART Two - Restructuring Troubled Issuers

CHAPTER 7 - Voluntary Exchanges

PROBLEMS WITH VOLUNTARY EXCHANGES THE HOLDOUT PROBLEM ILLUSTRATED MAKING A VOLUNTARY EXCHANGE WORK TAX DISADVANTAGES OF A VOLUNTARY EXCHANGE VERSUS CHAPTER 11 REORGANIZATION

CHAPTER 8 - A Brief Review of Chapter 11

LIQUIDATIONS AND REORGANIZATIONS STARTING A CASE: VOLUNTARY VERSUS INVOLUNTARY PETITIONS FORUM SHOPPING PARTIES IN A CHAPTER 11 CASE ADMINISTRATION OF A CHAPTER 11 CASE THE CHAPTER 11 PLAN

CHAPTER 9 - The Workout Process

PARTIES AND THEIR DIFFERING NEEDS AND DESIRES TYPES OF CHAPTER 11 CASES LEVERAGE FACTORS IN CHAPTER 11

PART Three - The Investment Process

CHAPTER 10 - How to Analyze: Valuation

STRICT GOING CONCERN VALUATION RESOURCE CONVERSION VALUATION LIQUIDATION VALUATIONS

CHAPTER 11 - Due Diligence for Distressed Issues CHAPTER 12 - Distress Investing Risks

RISKS ASSOCIATED WITH THE ALTERATION OF PRIORITIES RISKS ASSOCIATED WITH COLLATERAL OR ENTERPRISE VALUATION REORGANIZATION RISKS OTHER RISKS

CHAPTER 13 - Form of Consideration versus Amount of Consideration

PART Four - Cases and Implications for Public Policy

CHAPTER 14 - Brief Case Studies of Distressed Securities, 2008—2009

PERFORMING LOANS LIKELY TO REMAIN PERFORMING LOANS SMALL CASES LARGE CASES CAPITAL INFUSIONS INTO TROUBLED COMPANIES

CHAPTER 15 - A Small Case: Home Products International

THE EARLY YEARS GROWTH BY ACQUISITIONS RETAIL INDUSTRY WOES THE FIGHT FOR CONTROL AMENDMENT OF INDENTURE AND EVENT OF DEFAULT THE DECISION: PREPACKAGED CHAPTER 11 TREATMENT OF IMPAIRED CLASSES UNDER THE PLAN FINANCIAL MEANS FOR IMPLEMENTATION OF THE PLAN GOING-CONCERN AND LIQUIDATION VALUATIONS

CHAPTER 16 - A Large Reorganization Case: Kmart Corporation

LANDLORDS AND UNEXPIRED LEASES VENDORS AND CRITICAL VENDOR MOTIONS MANAGEMENT AND KERPs PRE-2005 BAPCPA FRAUDULENT TRANSFERS SUBSIDIARY GUARANTEES AND SUBSTANTIVE CONSOLIDATION CHAPTER 11 COMMITTEES AND OUT-OF-CONTROL PROFESSIONAL COSTS BLOCKING POSITIONS BUYING CLAIMS IN CHAPTER 11 DEBTOR-IN-POSSESSION FINANCING KMART’S PLAN OF REORGANIZATION AND PLAN INVESTORS INVESTMENT PERFORMANCE

CHAPTER 17 - An Ideal Restructuring System

FEASIBILITY AND CASH BAILOUTS GOOD ENOUGH RATHER THAN IDEAL HIGHLY BENEFICIAL ELEMENTS IN THE U.S. RESTRUCTURING SYSTEM GOALS OF AN IDEAL RESTRUCTURING SYSTEM SUGGESTED REFORMS

Notes About the Authors Index