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 / Bonds

Physiotherapy Holdings Disclosure Statement Approved, Plan Confirmed

The U.S. Bankruptcy Court approved Physiotherapy Holdings’ Disclosure Statement and concurrently confirmed the Joint Prepackaged Plan of Reorganization. As previously reported, “The…prepackaged chapter 11 plan of reorganization…will achieve the Debtors’ restructuring goals by (a) reducing the Debtors’ total funded indebtedness (including interest) by approximately 62%, from approximately $375 million as of October 10, 2013 to approximately $144 million (b) providing the Debtors’ with reasonable, long term financing and access to incremental commitments that will enable the Debtors to support their go-forward business needs and (c) providing for the establishment and funding of a litigation trust to consolidate and coordinate prosecution of certain claims and Causes of Action of the Contributing Claimants.” This outpatient rehabilatative services’ provider filed for Chapter 11 protection on November 12, 2013, listing more than $500 million in pre-petition assets.

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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

IBM: Not Yet Time to Swing at this Pitch

IBM’s stock underperformance since IBM’s current CEO took the helm in 2012 has been stark, with the shares declining 23% while the S&P500 Index has more than doubled. One big problem: revenue growth rate is zero, at best. Without revenue growth, what’s left to entice investors? The real driver of value at IBM – free cash flow that is used to repurchase shares. Can IBM borrow its way to shareholder prosperity as its cash flows shrink? What to do with IBM shares? Wait for a better pitch in the form of a catalyst or much lower valuation. 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."