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Business Insights From Conway MacKenzie
May 28, 2015

We Stand Ready to Help Build a Brighter Tomorrow 

Not surprisingly, a major point of discussion at this year’s Mackinac Policy Conference is the restructuring and revitalization of Detroit. During its Chapter 9 bankruptcy proceedings, Detroit fought back against great odds and is in the midst of a historic comeback that few thought possible. The city is now a beacon of light and inspiration […]

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March 9, 2015

Melting Ice Cubes in Chapter 11: How Fast is too Fast for a 363 Sale?

Bankrupt Radio Shack Corp. is looking to sell, and recently responded to objections to its proposed auction procedures. While the Creditors’ Committee argued that the proposed process was too fast, Radio Shack responded that, “Although the committee closes its eyes to it, the debtors’ estate is in fact a ‘melting ice cube’ that is losing […]

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February 2, 2015

American Bankruptcy Institute Issues Report Focused on Improving Chapter 11 as Data Shows 2014 Business Bankruptcy Filings Continue Downward Trend

While merger and acquisition activity roared in 2014, Chapter 11 business bankruptcy filings ended the year with a whimper. According to the American Bankruptcy Institute (ABI), total commercial filings were 34,455 for the year, a 22 percent decline from 2013. These numbers reflect the continuation of a downward trend in business filings over the last […]

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December 3, 2014

Bankruptcy Filings Continue Downward Trend; Healthcare Services Filings Up

Bankruptcy filings are down. Business and personal filings are expected to be at the lowest level in years at the conclusion of 2014. The recently released 3rd Quarter 2014 Report for the FBT/TrBK Distress Indices confirm these trends. According to the report, the Chapter 11 Distress Research Index was 43.41 for Q3 2014, a decline […]

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November 12, 2014

Emerging from bankruptcy, Detroit is not broken – it is better.

U.S. Supreme Court Justice Sotomayor said, “There are uses to adversity, and they don’t reveal themselves until tested.” And in the wake of a federal judge approving Detroit’s bankruptcy exit plan last Friday, those of us who participated in the restructuring couldn’t agree more. Brokering a deal that eliminated $7 billion in debts, protected community […]

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November 10, 2014

A New Day. A Bright Future. 

We are proud to serve as operational restructuring advisor to the City of Detroit during its restructuring. We wanted to honor the city, its leaders, and the talented professionals that led its historic comeback with this ad in The New York Times, which ran on Sunday. We can’t wait to see what Detroit has in […]

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September 9, 2014

No Dice: Atlantic City Trump Casinos File for Chapter 11

Another day, another Atlantic City casino Chapter 11 filing. Today Trump Entertainment Resorts, which operates Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, filed for bankruptcy in Delaware, case number 14-12103. This filing follows the closing of two other iconic Atlantic City casinos, the Showboat and Revel Casino Hotel, over Labor Day […]

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September 8, 2014

Fewer Bankruptcies, Fewer Defaults…For Now

According to Epiq Systems’ monthly bankruptcy update, there were 357 Chapter 11 business filings in August 2014. That’s a 41 percent decline from last August when there were 604 filings. On a year to date basis, there have been a total of 3,722 Chapter 11 business filings in 2014, compared to 4,599 over the same […]

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