The financial restructuring tool set : how to fix your broken balance sheet

Over the past two decades, central banks worldwide have pursued accommodative interest rate policies, facilitating the creation of a bubble in corporate debt. As a result, many firms will experience more frequent and increasingly severe incidents of financial distress, requiring the use of financial restructuring techniques to rescue their companies. Even so, restructuring can and should be a positive thing for a business, not a time of death and despair but rather an opportunity for rebirth. This book, based on the author's professional experiences and time teaching courses on the subject, will explain these financial restructuring techniques for executives, business owners, boards of directors, creditors, advisors, and investors whose companies may be facing distress and restructuring. It will help key stakeholders build identify distress before it is too late and to avoid becoming a corporate "zombie." This is a company whose interest expense exceeds its operating cash flow for an extended period of time but has been able to avoid a bankruptcy or major restructuring. It demonstrates how restructuring a company's debt can create a larger "pie" in the form of real enterprise value enhancement for the benefit of all stakeholders. Finally, it guides executives, owners, boards, and investors who are forming companies on how to "structure right" - capitalizing their balance sheets upon origination more effectively in a way to minimize the risk of future financial distress-- Provided by publisher