Distressed Debt Analysis: Strategies for Speculative Investors
"In the wake of last decade's equity bubble, corporate restructurings and bankruptcy reorganizations have provided investors with outstanding investment opportunities. This definitive reference explains the potential opportunities that will arise in the future and the multi-move, chess-like strategies that must be mastered to achieve profitable results." These investment opportunities and the unique, multi-faceted strategic, legal, and financial issues they present have also created...
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Writing for financial analysts, portfolio managers, distressed-debt trading desks, and bankruptcy lawyers, Moyer, director of research for an investment bank, explains techniques for investing in the securities of financially distressed companies, using chess strategy as an analogy for investment. He begins by describing the scope and nature of the distressed debt market, then tells how to recognize financially distressed companies, looks at legal issues, and examines practical aspects of distressed debt investment. Annotation ©2004 Book News, Inc., Portland, OR
Ch. 1Introduction1Ch. 2The distressed debt investment opportunity13Ch. 3Conceptual overview of financial distress and the restructuring process43Ch. 4Legal overview of distressed debt restructurings55Ch. 5Overview of the valuation process95Ch. 6Leverage and the concepts of credit support and capacity119Ch. 7Capital structures and the allocation and management of credit risk139Ch. 8Causes of financial distress and the restructuring implications163Ch. 9Options for alleviating financial distress : the company's perspective189Ch. 10Profiting from financial distress : the investor's perspective219Ch. 11Practical aspects of the investment process and due diligence257Ch. 12Dynamics of the workout process : the endgame309Ch. 13Postreorganization considerations349AppChess notation and game moves433
