Bankruptcy/Chapter 11 / Post-Bankruptcy Stocks / Real Estate
Ultimate Escapes Plan Filed, Confirmed
Ultimate Escapes filed with the U.S. Bankruptcy Court a Second Amended Chapter 11 Plan of Liquidation. The Court subsequently confirmed the Plan. According to documents filed with Court, “A cornerstone of the Plan is the implementation of the CapitalSource Settlement, which is a settlement between the Debtors, CapitalSource, and each of their respective Affiliates. The CapitalSource Settlement has been incorporated into the Plan, under which the final $300,000 of financing approved under the Final DIP Order shall be funded on the Effective Date and apply to satisfy Allowed Administrative Claims, including any Deferred Professional Compensation Claims.” This operator of a family of luxury destination club offerings filed for Chapter 11 protection on September 20, 2010, listing $207 million in pre-petition assets.
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Identify & Profit from Distressed Investing
Turnaround Investing Blog
In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.
EV/EBITDA: What Is It & Why Are We Using It More?
In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple. We thought it might be useful to describe this measure and why we like it.
Turnaround Letter Stock Pick Named Top Performer of 2017
What Last Year's Top Stock Pickers Are Buying in 2018
This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.
George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."
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