Bankruptcy Investing How to Profit from Distressed Companies

Bankruptcy Investing   How to Profit from Distressed Companies
Author: Ben Branch,Hugh Ray
Publsiher: Beard Books
Total Pages: 326
Release: 2007-02
Genre: Business & Economics
ISBN: 9781587982910

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This topical and easily understood handbook explains how bankruptcy can affect a corporation and its capital structure and how investors can profit from the corporate bankruptcy process.

Bankruptcy Investing

Bankruptcy Investing
Author: Ben Branch,Hugh Ray
Publsiher: Unknown
Total Pages: 0
Release: 2002
Genre: Bankruptcy
ISBN: 1587981211

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Two experts in the legal and financial aspects of bankruptcy investing present this text for serious investors considering investment in the securities of troubled companies. The focus is on publicly traded instruments, but nonpublic securities are also discussed.

Distressed Debt Analysis

Distressed Debt Analysis
Author: Stephen G. Moyer
Publsiher: J. Ross Publishing
Total Pages: 387
Release: 2004-11-15
Genre: Business & Economics
ISBN: 9781932159189

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Providing theoretical and practical insight, this book presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The author uses numerous real- world examples to demonstrate concepts and critical issues. Readers will understand the chess-like, multi- move strategies necessary to achieve financially advantageous results.

Investing in Financially Distressed Firms

Investing in Financially Distressed Firms
Author: Murali Ramaswami,Susan Moeller
Publsiher: Praeger
Total Pages: 200
Release: 1990-01-22
Genre: Business & Economics
ISBN: UCSC:32106009349041

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This comprehensive new study examines the impact of the 1978 Bankruptcy Reform Act on firms that file under Chapter 11 and on investors who own shares or bonds in financially distressed corporations. Demonstrating that high average returns often accompany wise investment choices concerning bankrupt firms, the authors explain how to spot potential investment targets, assess investment risk, and profit from investing in firms undergoing reorganization following a bankruptcy filing. Both individual and institutional investors looking for new investment opportunities and students of corporate finance and financial management will find important new insights into the investment potential of financially distressed firms. Investing in Financially Distressed Firms represents a good buy for those who would like to hunt bargains in the broken angel sector of the market. Journal of High Yield Bond Research This comprehensive new study examines the impact of the 1978 Bankruptcy Reform Act on firms that file under Chapter 11 and on investors who own shares or bonds in financially distressed corporations. Demonstrating that high average returns often accompany wise investment choices concerning bankrupt firms, the authors explain how to spot potential investment targets, assess investment risk, and profit from investing in firms undergoing reorganization following a bankruptcy filing. The legal issues involved in investing in bankrupt firms, the environment within which the bankrupt firm operates, and the relationship between stock market efficiency and bankrupt firms also receive thorough coverage. Both individual and institutional investors looking for new investment opportunities and students of corporate finance and financial management will find here important new insights into the investment potential of financially distressed firms. The volume begins with an introduction which sets the stage for the discussion that follows by describing the reasons for the increasing rates of corporate bankruptcy in the 1980s. The authors go on to explore the incentives for investing in bankrupt firms and offer pointers for investors considering such a move. In order to provide the reader with the tools necessary to evaluate potential investment opportunities, the authors also describe the reasons for corporate financial failure, the effects of reorganization on a firm, the differences between old and new bankruptcy laws, and the legal settlement of bankruptcy claims. An analytical model for predicting successful reorganization--and thus a potentially lucrative investment target--is described and illustrated as are models of stock market efficiency. The study concludes with four detailed case studies that illustrate the process of bankruptcy and the possible investment outcomes. The text is accompanied by numerous explanatory tables and figures.

Distress Investing

Distress Investing
Author: Martin J. Whitman,Fernando Diz
Publsiher: John Wiley & Sons
Total Pages: 277
Release: 2009-04-13
Genre: Business & Economics
ISBN: 9780470117675

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Financial innovation, new laws and regulations, and the financial meltdown of 2007–2008 are just a few of the forces that have shaped, and continue to shape, today's distress investment environment. Combine this with the fact that the discipline of distress investing doesn't always follow what conventional wisdom says, and you can see why it is one of the most challenging areas in finance. Nobody understands this better than Martin Whitman—the legendary founder of Third Avenue Management LLC and a pioneer in the field of distressed markets—and leading academic Dr. Fernando Diz of Syracuse University. That's why they decided to write Distress Investing. As an outgrowth of annual distress and value investing seminars the two have taught together at Syracuse University's Martin J. Whitman School of Management, this reliable resource will help you gain a better understanding of the essential principles and techniques associated with distress investing and show you how to effectively apply them in the real world. Divided into four comprehensive parts—the General Landscape of Distress Investing, Restructuring Troubled Issuers, the Investment Process, and Cases and Implications for Public Policy—this book comprehensively covers the practice of buy-and-hold investing in distressed credits, whether it be performing loans or the reinstated issues of a reorganized issuer. From the recent changes to U.S. bankruptcy code and creditor rights to cash bailouts, you'll quickly learn how to analyze distressed situations such as pricing issues, arbitrage opportunities, tax disadvantages, and the reorganization of funding plans. Along the way, case studies of both large and small distress investing deals—from Kmart to Home Products International—will give you a better perspective of the business. Critical topics addressed throughout these pages include: Chapter 11 bankruptcy and why it's not considered an ending, but rather a beginning when it comes to distress investing The "Five Basic Truths" of distress investing The difficulty of due diligence for distressed issues Distress investing risks—from reorganization risk to risk associated with the alteration of priority of payments in bankruptcy Valuing companies by both going concern as well as their resource conversion attributes In today's turbulent economic environment, distress investing presents some enticing opportunities. Put yourself in a better position to excel at this endeavor with Distress Investing as your guide.

Distressed Securities

Distressed Securities
Author: Edward I. Altman
Publsiher: Beard Books
Total Pages: 252
Release: 1999
Genre: Business & Economics
ISBN: 1893122042

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The Guide to Distressed Debt and Turnaround Investing

The Guide to Distressed Debt and Turnaround Investing
Author: Kelly DePonte
Publsiher: Unknown
Total Pages: 236
Release: 2007
Genre: Bankruptcy
ISBN: 1904696236

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Corporate Financial Distress and Bankruptcy

Corporate Financial Distress and Bankruptcy
Author: Edward I. Altman,Edith Hotchkiss
Publsiher: John Wiley & Sons
Total Pages: 439
Release: 2010-03-11
Genre: Business & Economics
ISBN: 9781118046043

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A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more.