Buying Distressed Businesses: “Loan to Own” & Other Strategies, Part 2
There have never been more opportunities to acquire distressed businesses. Tight credit and a slow and uneven economic recovery have converged to force many businesses into capital shortages and default. There is substantial value in those businesses if they can survive the economic storm – and therein lies the opportunity. This program will provide you with a practical inter-disciplinary guide to the legal and financial aspects of helping your clients identify value in distressed businesses, structure transactions in and outside of bankruptcy to capture that value while limiting liability, and positioning the acquisition for growth in the future.
Day 1: May 11, 2010:
- State of the market in buying and selling distressed businesses
- Identifying and quantifying value in distressed businesses
- Legal framework of buying/selling distressed businesses
- Acquiring value while limiting successor liability
- Non-bankruptcy strategies for acquiring/selling businesses
Day 2: May 12, 2010:
- Bankruptcy framework for buying distressed businesses
- Buying assets and businesses at bankruptcy auctions - how they work, the players and traps for those new to the process
- "Loan to own” strategies for acquiring distressed businesses
- Major liability issues when buying a bankrupt business and techniques for limiting liability
John Murdock is a partner in the Nashville office of Bradley Arant Boult, Cummings, LLP, where his practice includes business acquisitions and dispositions, commercial lending, and commercial law generally. He is a member of the Commercial Financial Services Committee of the ABA Business Law Section and formerly served as chair of its Lender Liability Subcommittee. He is also a Fellow of the American College of Commercial Finance Lawyers. Mr. Murdock received his B.S., magna cum laude, from Vanderbilt University and his J.D. from Vanderbilt University Law School.
Thomas M. Kim is senior managing director in the Denver office of r2 Advisors, LLC, a corporate renewal and restructuring firm focusing on lower middle market companies facing financial or operational distress. Earlier in his career, Mr. Kim was an originator and asset manager with Republic Financial Corporation, a private investment company, and an attorney with LeBoeuf, Lamb, Greene & MacRae, LLP. He serves on the board of the Turnaround Management Association and is a member of its executive committee. He received his B.S. from the University of Utah and his J.D. and M.B.A. from Santa Clara University.
Roger G. Jones is a partner in the Nashville office of Bradley Arant Boult, Cummings, LLP, where his practice includes bankruptcy and insolvency, workouts, acquisition and disposition of distressed businesses, and commercial finance. He is the co-author of "Norton Creditor's Rights Handbook," published by West, and is listed in "The Best Lawyers in America" for his bankruptcy and creditors’ rights practice. Before entering private practice, he served as a judicial clerk for Judge Thomas Millburn of the United States Court of Appeals for the Sixth Circuit. He received his B.A. from Appalachian State University and his J.D. from the University of Tennessee College of Law.
