Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Media

Broadstripe Plan Confirmed

The U.S. Bankruptcy Court entered an order confirming privately-held Broadstripe’s First Modified Plan of Reorganization. According to documents filed with the Court, “The Plan contemplates the transfer of substantially all of the Debtors’ assets to the prevailing bidder at an Auction to be held in accordance with the Bidding Procedures Order.” This entertainment and communications provider filed for Chapter 11 protection on January 2, 2009, listing total pre-petition assets of more than $100 million. The Court approved the sale of Broadstripe’s assets to Martell Cable Services on November 15, 2011.

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More on Broadstripe's bankruptcy

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Is there value in bankrupt PG&E’s stock?

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.

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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.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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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."