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

FriendFinder Networks Plan Filed

FriendFinder Networks filed with the U.S. Bankruptcy Court a Modified Second Amended Joint Plan of Reorganization. A related Disclosure Statement was not filed as a result of the November 5, 2013 order approving the Disclosure Statement. As previously reported, “The Plan provides for the recapitalization of the Company by exchanging Allowed First Lien Noteholder Claims for a combination of New First Lien Notes and Cash and exchanging Allowed Second Lien Noteholder Claims for 100% of the New Common Stock of FFN and in certain circumstances, an additional Cash Distribution. The Plan provides that Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Priority Claims and Other Secured Claims shall be paid in full or otherwise unimpaired….The Plan does not provide for any recovery to Securities Litigation Claims or to Existing FFN Equity Interests, as such, both are deemed to reject the Plan.” The Court previously scheduled a December 16, 2013 hearing on confirmation of the Plan.

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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Tupperware: Not a Good Fit as a Turnaround Stock

At first glance, the shares have decent appeal as a turnaround investment. Looking deeper, however, the fundamentals are not as strong and stable as they appear. Surplus cash flow is tight, a key driver is weakening, it is increasingly reliant on China and has other nagging issues. We don’t see the new CEO as a catalyst for change. Despite the “first glance appeal”, Tupperware isn’t a good fit as a turnaround stock. Read More.

Comparing Stocks Vs. Bonds

While the common stock of a turnaround candidate usually has the greatest upside potential, other classes of securities, such as bonds or preferred stock, may offer attractive profit possibilities with less risk. Many turnaround companies have only one class of securities available to investors but where there are different classes to choose from, it can pay to do a little extra analysis of the various options.

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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."