Bankruptcy News

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

Bonds / Post-Bankruptcy Stocks / Telecommunication Services

Fiber Tower Plan Confirmed

The U.S. Bankruptcy Court confirmed Fiber Tower’s Fourth Amended Joint Chapter 11 Plan. According to the documents filed with the Court, “On the Effective Date, except to the extent that a Holder of an Allowed 2016 Claim agrees to less favorable treatment, each Holder of an Allowed 2016 Claim shall be entitled to receive, in full satisfaction of such Claim, (i) its Pro Rata share of one hundred percent (100%) of the New FiberTower Common Stock and (ii) its Pro Rata share (together with the other Beneficiaries, but without duplication of the Allowed 2016 Guaranty Deficiency Claims) of the Litigation Trust Interests to the extent of its 2016 Deficiency Claim. The 2016 Claims shall be Allowed in the aggregate amount of $131,779,772.00 plus accrued and unpaid interest, fees, expenses and other charges accruing prior to the Petition Date, less any amounts applied as payment of principal from the Petition Date through the Effective Date. The 2016 Deficiency Claims shall be Allowed in the aggregate amount of $65,000,000.00. Class 1B is impaired by the Plan. Class 1B is impaired by the Plan. Each Holder of an Allowed 2016 Claim is entitled to vote to accept or reject the Plan.” This telecommunications’ provider filed for Chapter 11 protection on July 17, 2012, listing $559 million in total pre-petition assets.

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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Who wants to buy stocks right now? Nobody.

At best, the broad stock market’s 15.8% drop since its peak only three months ago on September 20 has been disconcerting. The deeper 23% plunge in small cap stocks, as measured by the Russell 2000 index: startling. For the weakest 9% of S&P500 stocks – often those with some type of unfavorable macro exposure – their average loss of 40% in such a brief time has been simply jaw-dropping. Read More.

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."