The Turnaround Podcast, Stephen Phillips, Episode 05

In this episode of "The Turnaround Podcast," host Stephen Phillips is joined by Lisa Rickelton, Senior Managing Director at FTI Consulting. Lisa brings over two decades of expertise in insolvency and restructuring, specializing in contingency planning and insolvency solutions. Her extensive experience spans advising stakeholders across various sectors and managing complex cross-border situations.

Tune in to this episode to hear about:

* Role of an Insolvency Practitioner: Lisa explains the evolving role of insolvency practitioners, discussing both the early days of her career and the complex tasks she handles today, such as managing company operations during insolvency to save jobs and optimize outcomes.

* Introduction to Insolvency: Lisa shares her journey into the world of insolvency, which began unexpectedly during her time with Arthur Andersen. She recounts her initial experiences and how they shaped her understanding of the industry.

* Tools and Techniques in Restructuring: The discussion covers various insolvency tools, including pre-packaged administrations and restructuring plans. Lisa provides insights into how these tools are applied in practice and the regulatory frameworks governing them.

* Challenges and Criticisms of Prepacks: Lisa addresses common criticisms of prepackaged insolvencies, such as transparency concerns and stakeholder skepticism, explaining the regulatory improvements made to ensure fairness and value preservation.

* Case Study - Adler Restructuring Plan: Lisa delves into the complexities of the Adler restructuring plan, a significant project involving cross-class cram down and cross-border legal considerations, highlighting her role in comparator analysis and court proceedings.

Learn more about Lisa Rickelton:

* Connect with Lisa on LinkedIn: https://www.linkedin.com/in/lisarickelton/

* Follow FTI Consulting on LinkedIn: https://www.linkedin.com/company/fti-consulting/

* Read Lisa’s bio on FTI Consulting’s Website: https://www.fticonsulting.com/experts/lisa-rickelton

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About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast:

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g/

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324/

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 04

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Sabrina Fox, CEO of the European Leverage Finance Association and the founder of Fox Legal Training. Sabrina brings nearly two decades of experience in analyzing high yield covenants, initially as legal counsel and later as a covenant analyst and trainer.

Tune in to the episode to hear about:

* Sabrina's journey through the legal and financial sectors, leading to her roles in covenant analysis and the European Leveraged Finance Association.

* Insights into the evolution of covenant structures in high yield bonds and how they affect investor security

* Detailed discussion on the mechanics and implications of moving assets from restricted to unrestricted subsidiaries

* The concept of "value in a box" and how covenants aim to protect investor value within a corporate structure

* Current trends in the high yield market, including notable cases like J. Crew and Altice, highlighting the strategic use of covenants in financial restructuring

Learn more about Sabrina Fox:

* Connect with Sabrina on LinkedIn: https://www.linkedin.com/in/sabrina-fox-45b29b7b/

* Visit European Leveraged Finance Association‘s website: https://elfainvestors.com/

* Visit Fox Legal Training’s website: https://www.foxlegaltraining.com/

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g/

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324/
* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 03

In this episode of The Turnaround Podcast, host Stephen Phillips speaks with Wolfgang Felix, Co-founder and CEO of Sarria, a team of senior distressed credit analysts helping leading special opportunities hedge funds on either side of the pond to deploy their resources with the greatest efficiency.

Tune in to the episode to hear about:

* Wolfgang's journey through the world of distressed debt and the founding of his boutique firm, Saria

* An in-depth discussion on the methodologies used at Sarria for analyzing distressed securities

* Insights into the current trends and opportunities in the distressed debt market post-COVID

* Insights into hoe traders can use credit default swaps to profit from weaker credits

* Strategies for managing long and short positions in a volatile financial environment

* Wolfgang's perspective on the future of credit analysis

Learn more about Wolfgang Felix:

* Connect with Wolfgang on LinkedIn Profile: https://www.linkedin.com/in/wolfgang-felix/

* Follow Sarria on LinkedIn: https://www.linkedin.com/company/sarria/

* Visit Sarria’s Website: http://www.sarria.co.uk

* Follow Sarria on Twitter: https://twitter.com/wolfelix

* Follow Wolfgang on Instagram: https://www.instagram.com/wolfelix/

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast:

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g/

* Freilibertas website: https://www.freilibertas.com/the-turnaround-podcast

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324/

* Website: https://www.freilibertas.com/founders-experience