Restructuring

The Role of the Independent Director in a Restructuring

03/23/22

The practice of appointing one or more independent directors to the boards of distressed companies has not only proliferated in recent years, but has become the subject of increasing controversy. In this episode of the Restructure THIS! podcast, John Dubel discusses, among other things, the proper role of an independent director in a restructuring and weighs in on whether he believes the current independent director framework in chapter 11 is broken.

[more]

Sheppard Mullin and M3 Partners Weigh In on the Potential Drivers of the Next Restructuring Cycle for the ABI Journal

01/04/22

Members of Sheppard Mullin’s Finance & Bankruptcy team recently co-authored an article entitled “When the Other Shoe Drops: Drivers of the Next Restructuring Cycle” with experts from leading restructuring advisory firm M3 Partners for the January 2022 issue of the American Bankruptcy Institute Journal. The article discusses the confluence of factors that Sheppard Mullin and M3 believe will contribute to an uptick in restructuring activity in the future, including the eventual tightening of credit markets and a variety of pre-pandemic and post-pandemic headwinds.

[more]

Dimon counsels against bank stock buybacks; Texas banks call off merger

05/27/20

The JPMorgan CEO says the recovery has to start first, and future buybacks won’t be as big as before; Texas Capital Bancshares and Independent Bank blame the coronanvirus market impact.

[more]

CIBC cuts jobs, shuffles executives in CEO cost-cutting mission

02/26/20

With its expenses soaring, the Toronto company has taken a $250 million restructuring charge to cover severance from staff reductions.

[more]

HSBC scales back U.S. retail expansion amid another global restructuring

02/18/20

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%.

[more]

Scharf overhauls Wells Fargo’s structure; CECL could be a boon for banks

02/12/20

Bank will have more business lines, all reporting to the CEO; a research paper says the accounting rule could result in eased capital rules.

[more]

BofA adds to holiday cheer; AI could be a savings tool

12/12/19

The bank joins rivals in predicting a better than expected Q4; JPM exec says AI could help create products for savings.

[more]

Don't misread restructurings and layoffs as a sign of weakness

12/05/19

In some cases bankers' willingness to close branches and cut staff is a testament to their company's strength.

[more]

Be on point when you’re at a turning point

11/07/19

Clear communication is critical when banks undergo a leadership or operational change.

[more]