Writings to management, boards, lenders, and sponsors in the middle market.
Capital Structure · CRO Model
The traditional restructuring firm extracts significant cash from a business at precisely the moment it can least afford it. A case for equity-aligned restructuring and how a different fee structure changes the outcome for everyone in the room.
Leadership · Restructuring
When a business enters financial distress, the instinct is to replace the CEO. It is almost always the wrong call. The case for a different kind of partnership and why the CEO is the most valuable person in the room when it is time to exit.