Bankruptcy/Chapter 11 / Diversified Financials
Majestic Capital Plan Filed
Majestic Capital filed with the U.S. Bankruptcy Court a First Amended Chapter 11 Plan and related Disclosure Statement. According to the Disclosure Statement, “The Plan is designed to (i) facilitate the orderly wind-down of the Debtors and their two non-debtor insurance company affiliates, (ii) facilitate the resolution of more than 2000 claims filed against the Debtors in an orderly and expeditious format and to (iii) provide an effective mechanism for the distribution of the Debtors assets to holders of allowed claims.”
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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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