Bankruptcy/Chapter 11

A legal procedure that gives a business temporary protection from its creditors while it gets back on its feet

ARTICLES

C&J Energy Emerges Bankruptcy

C&J Energy Services Plan Effective

C&J Energy Services' Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection.
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Atna Resources' Liquidates

Atna Resources Plan Effective

Atna Resources' Chapter 11 Plan of Liquidation became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on November 29, 2016.
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American Gilsonite Emerges Bankruptcy

American Gilsonite Plan Effective

American Gilsonite's First Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection.
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UCI Holdings Emerges Bankruptcy

UCI Holdings Plan Effective

UCI Holdings' Revised Joint Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection.
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CEDC Files Bankruptcy

Roust Chapter 11 Petition, Plan Filed

Roust (f/k/a Central European Distribution Corporation and CEDC) and two affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 16-23786.
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Energy XXI Emerges Bankruptcy

Energy XXI Plan Effective

Energy XXI's Second Amended Joint Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection.
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Distressed debt will present turnaround opportunities, but there will also be attractive post-reorganization equities. 

2016 Bankruptcy Review: More & Bigger

While we believe that overall bankruptcy activity will remain at a high level for the foreseeable future, we think that filings in the energy sector may have peaked. We are optimistic that the increasing bankruptcy activity will provide some very attractive opportunities for turnaround investors. 
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Strategies for Investing in Distressed Securities

Adding a sizable debt burden on top of the profit uncertainty will further expand the range of possible outcomes; and this very wide range creates inefficient pricing, as investors can have very different views on what these bonds are actually worth. For the buyer of distressed bonds, this uncertainty and inefficiency are powerful sources of potentially high returns.
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Basic Energy Services Emerges from Bankruptcy

Basic Energy Services Plan Effective

Basic Energy Services' First Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection.
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DOCUMENTS AND FILES

Kodak Report

Bankruptcy Investing

Learn George Putnam's Turnaround Secrets

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Turnaround Investing Blog

Turnaround Investing Blog

How To Find Good Value Stocks When They Are Scarce

With U.S. stocks well into their eighth year of a bull market and the economy showing increasing signs of strength, finding ideal turnaround stocks--those with all three ingredients--can be a needle-in-the-haystack project at best. What is an investor to do in a seemingly barren value stock landscape? Read More.

Market-Beating Profit: The 200+ Club

Turnaround stocks present a unique opportunity for savvy investors to buy in at bargain prices. Take a look at this list of just a few of our purchase recommendations that have realized a return rate of 200% or better:

200+ Club: Value Investing Stock Profits with 200% or Better Return

* Bristow remains in our active portfolio (currently as a Hold), and 2,849% gain is as of 1/17/17.

Bet on These Battered Stocks

Battered Stocks/Tribune Logo: Value Investing from The Turnaround Letter Highlighted in the Chicago Tribune

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Chicago Tribune highlighted this Kiplinger's Money Power write-up on George's contrarian investing approach and The Turnaround Letter's April 2016 monthly turnaround stock pick.

 

Darren Fonda notes, "…besieged stocks often start to recuperate as the headlines fade and investors anticipate a return to precrisis sales and profits. The trick, of course, is to find companies that are more likely to rebound from a setback than collapse entirely."

 

Learn more about Putnam's turnaround investing strategy.