Corporate Restructuring

This course will familiarize students with the financial, legal and strategic issues associated with both corporate and governmental restructurings. The main focus will be on the restructuring of financially distressed firms with particular emphasis on the negotiations between stakeholders to convert existing claims into securities of the reorganized firm. The course will begin with a review of the basics of corporate distress: how firms get into financial trouble, warning signs, balance sheet composition and risk, and cost of both debt and equity capital. The course will include discussions of operational restructuring techniques which can be used to avoid or at least mitigate the need for balance sheet restructurings.