Ian Ratner Provides Update Amidst COVID-19 Pandemic
How are you holding up? The global pandemic has taken a serious toll on the economy and almost every business has been affected. As states begin to reopen and some professionals begin to return to offices, there are many questions on how life is going to look after COVID-19. With social distancing guidelines still in place, and full remote work life now ongoing for three months, staying connected is more important than ever. Hopefully, I will be able to see you in person soon, but in the meantime I wanted to share some of the things going on in our practice.
Bankruptcy & Restructuring:
Recently, I joined Debtwire's Absolute Priority podcast series with Richard Goldman. The focus of our discussion was mid-market businesses. Many Fortune 100 companies have a cushion to withstand the current crisis or access to the more sophisticated Capital Markets. However, the mid-market is more exposed, and even with the successful PPP of the CARES Act, the mid-market is seriously exposed and the future looks bumpy. To listen to the podcast click here.
Business Interruption (BI) Claims:
As businesses resume, there are questions on how insurance carriers are going to interpret interruptions from this pandemic. Will costs be covered? If so, to what extent? Mike McGovern brings us recent developments surrounding these developing issues every Wednesday on our LinkedIn page. Mike has 17 years' experience working with insurance claims on behalf of both insurance carriers and policyholders. He has been retained as an expert witness for numerous cases and has vast experience measuring damages due to business interruption. Make sure to follow us on LinkedIn to receive our updates.
Our valuation professionals are available to help with impairment testing. If you need any assistance or would like to learn more about your options, reach out to Craig Jacobson, Dan Korczyk, or Richard Peil.
Industry Spotlight: Real Estate
One of the hardest hit industries from COVID-19 is the real estate industry. In particular, commercial and retail, as businesses discontinue service, aren't able to pay rent, or look to downsize as employees continue working remotely. Our real estate advisory team was there on the scene when the bubble burst in 2008, and are well prepared for this new challenge. Reach out to Jim Howard or Ron Glass if you have any questions, or would like a personal consultation to assess options available to your company.
Virtual Webinars and Media:
Our team adapted quickly to the "new normal" and have been actively involved in moderating, and participating in, virtual panels. Most recently, Jim Howard and myself participated in a webinar on how to be a good borrower. Mike Issa co-hosted a town hall session for the TMA on automotive restructuring. Carol Fox sat on a panel discussing management of asset cases for the NABT. Tom Buck participated in a panel hosted by Schiff Hardin discussing municipal bonds. Amy Turner continues to present to groups on telehealth and healthcare billing. This is just a snippet of our involvement in digital media. Our website is updated regularly to provide insights and assets as they become available, and we encourage you to connect with us on LinkedIn. I have referenced key resources below.
While we continue to practice social distancing, we are only a phone call away. Please don't hesitate to reach out to discuss how we can help with your complex business challenges. We would love to hear from you.
Stay healthy and safe,
Debtwire Podcast: Ian Ratner Gives Update on Middle Market Restructuring in COVID-19 Era
Ian Ratner recently joined Debtwire senior legal analyst Richard Goldman for the latest episode of the Absolute Priority Podcast series. In this episode, Ian discusses the issues specific to middle market companies amid COVID-19. Ian talks about how the coronavirus pandemic differs from the 2008 global financial crisis, and how middle market restaurant, hospitality and retail businesses will be hit the hardest economically.To listen to the Debtwire podcast, click here.
Webinar Replay: "You're in Default: Now What?"
Did you miss our webinar last week? Here's what we discussed:
- How borrowers can re-evaluate strategic alternatives
- What it means to be in Default
- Practical tips on how to interact with your lender
- When to sign or not sign a forbearance agreements
- General update during these challenging times of COVID-19
Click here to watch the webinar. (Password: WmhDWZH9)
New Web Series: Latest Updates on Business Interruption Claims by Mike McGovern
Looking to learn the ins and outs of the business interruption ("BI") claims process? Then we have the video series for you. Catch Mike McGovern on our LinkedIn page every Wednesday where he answers your questions. Topics have included "What to look for in your insurance policy?", "How much money you can receive from filing a claim?" and measurement issues. Missed it on LinkedIn? To view the Business Interruption Claims video series, click here.
Mike McGovern is a Managing Director at GlassRatner with over 17 years' experience with insurance claims, on behalf of both insurance carriers and policyholders. He has been retained as an expert witness for numerous cases and has vast experience with measuring damages due to business interruption. Learn more about Mike here.
Article: The PPP's Headache for Borrowers, by Bert Lacativo and Susana Franco
Updated Brochures for the COVID-19 Era
Recent and Upcoming Webinars
> Tom Buck Spoke at Webinar on the Municipal Bond Industry
May 8, 2020 | More Information
> Carol Fox Spoke at Webinar on Managing Corporate/Entity and Individual Asset Cases
May 22, 2020 | More Information
> Mike Issa Spoke at TMA Town Hall on How COVID-19 has Effected the Automotive Industry
May 27, 2020 | More Information
> Amy Turner to Present SPPM Webinar on Medicare Payments
June 10, 2020 | More Information
> Amy Turner to Speak at ASIPP Webinar on Documentation, Coding, Compliance and Practice Management
June 13-14, 2020 | Register Here
GlassRatner is a national multi-office specialty financial advisory services firm providing solutions to complex business problems and Board level agenda items. The Firm applies a unique mix of skill sets and experience to address matters of the utmost importance to an enterprise such as managing through a business crisis or bankruptcy, planning and executing a major acquisition or divestiture, pursuing a fraud investigation or corporate litigation, and other top level non-typical business challenges. GlassRatner has a national reputation in the area of Bankruptcy and Restructuring Advisory Services and Forensic Accounting and Litigation Support Services.
About B. Riley Financial
GlassRatner is excited to be a part of the B. Riley Financial ("B. Riley") family. B. Riley provides collaborative financial services and solutions tailored to fit the capital raising and financial advisory needs of public and private companies and high net worth individuals. The company operates through several wholly-owned subsidiaries, including B. Riley FBR, a full-service investment bank and institutional brokerage; Great American Group, a leading provider of asset disposition, appraisal, corporate advisory and valuation services; GlassRatner, a specialty financial advisory services and consulting firm; B. Riley Wealth Management, B. Riley Asset Management and B. Riley Alternatives, which offer investment management to institutional and high net worth investors; Great American Capital Partners, which originates and underwrites senior secured loans for asset-rich companies; and B. Riley Principal Investments, which invests in or acquires companies and assets with attractive return profiles.