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Sheppard Mullin's Restructure This!

Sheppard Mullin's Restructure This!

Written by: Sheppard Mullin with Justin Bernbrock
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 Sheppard Mullin's Restructure This! podcast explores the latest trends and controversies in Chapter 11 bankruptcy, commercial insolvency and distressed investing. Join host Justin Bernbrock, partner in the law firm's Finance and Bankruptcy group, as he and his guests discuss popular, and sometimes not-so-popular, developments in the wild west of the bankruptcy legal world and high yield deal-making.Copyright © 2025 Sheppard Mullin. All Rights Reserved. Economics Personal Finance Politics & Government
Episodes
  • Restructure This! Episode 27: What You Always Wished You Knew About Assignments for the Benefit of Creditors with David M. Johnson and Molly Froschauer of Resolution Financial Advisors

    Restructure This! Episode 27: What You Always Wished You Knew About Assignments for the Benefit of Creditors with David M. Johnson and Molly Froschauer of Resolution Financial Advisors
    Jun 25 2025
    Sheppard Mullin's Restructure THIS! podcast explores the latest trends and controversies in Chapter 11 bankruptcy, commercial insolvency and distressed investing. In this week's episode, David Johnson and Molly Froschauer of Resolution Financial Advisors join host Justin Bernbrock to discuss Assignments for the Benefit of Creditors (ABCs), including advantages and disadvantages compared to traditional bankruptcy options, the various ways an ABC can be leveraged and the acquisition opportunities they offer potential buyers. What We Discussed in this Episode What is an Assignment for the Benefit of Creditors? What are the advantages and disadvantages of an ABC compared to traditional bankruptcy proceedings? What cost and jurisdictional factors should a distressed company or its board of directors consider when evaluating the various options? How can an ABC be leveraged as an operating company, a going-concern sale or even a prepackaged ABC? How can potential buyers learn about acquisition opportunities involving ABCs? Are there specific companies and industries that aren't well-suited for an ABC? About the Guests and Host About David M. Johnson, CFA David M. Johnson, CFA, is an accomplished executive with more than 25 years of experience in financial advisory and business restructuring roles. He has honed his skills advising startups, venture-backed companies and established businesses through complex crises, guiding over 400 companies toward recovery and resilience. Before co-founding Resolution, David served as Senior Managing Director at a middle-market advisory firm, guiding distressed companies for 17 years. He also spent four years with Alvarez & Marsal, Inc., a global turnaround management firm, providing interim management and forensic accounting services for clients that included a national healthcare organization. His expertise spans corporate turnarounds, insolvency management, sales and acquisitions, financial modeling, and valuations. About Molly Froschauer Molly Froschauer is an experienced insolvency professional who has been advising on bankruptcy and distressed corporate situations for over a decade. Before joining Resolution, she spent seven years with middle-market professional services firms, specializing in corporate distress. Molly's career also includes practicing as a bankruptcy attorney and serving as a general manager for an out-of-court insolvency service provider and liquidation agent. Her work has spanned managing creditor meetings, advocating for business debt solutions and educating trade creditors on navigating debt resolution. As an editor for the National Association for Credit Management's Manual of Credit and Commercial Laws, Molly oversaw more than 50 Assignments for the Benefit of Creditors, out-of-court workouts and engagements through the bankruptcy courts. About Justin Bernbrock Justin Bernbrock is a partner in the Finance and Bankruptcy Practice Group in Sheppard Mullin's Chicago office, where he focuses on all aspects of corporate restructuring, bankruptcy and financial distress. He represents clients across a wide range of matters, including debtor and creditor representations. He has substantial experience in out-of-court and in-court restructurings, primarily in the Southern District of New York, Eastern District of Virginia, District of Delaware and Southern District of Texas. Contact Information David M. Johnson, CFA Molly Froschauer Justin Bernbrock Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week. If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, or Spotify. It helps other listeners find this show. This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.
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    34 mins
  • Restructure This! Episode 26: Turnaround and Performance Improvement Strategies with Kobus van der Zel [Replay]

    Restructure This! Episode 26: Turnaround and Performance Improvement Strategies with Kobus van der Zel [Replay]
    Jan 24 2024

    This episode is a replay of Episode 19 which originally aired on December 28, 2022, but includes updated restructuring news as of January 2024.

    Sheppard Mullin's Restructure THIS! podcast explores the latest trends and controversies in Chapter 11 bankruptcy, commercial insolvency and distressed investing. In this week's episode, we're joined by Kobus van der Zel, the owner of Ravinia Capital Performance Improvement, a financial advisory and investment firm in Chicago. In his conversation with host Justin Bernbrock, Kobus explains what his engineering background, military service in South Africa and the Myers-Briggs personality test has to do with financial turnarounds.

    What We Discussed in This Episode:

    • Looking back over your 20-year-plus turnaround career, what are some of the significant trends you've observed?

    • What could those trends foreshadow for the future?

    • At what point might events in the natural world, particularly the impacts of climate change, start driving "winters" in the economic cycle?

    • How do trends in the context of credit cycles and special asset groups typically materialize for small family enterprises all the way up to sponsor-backed companies?

    • Could advisory, service-based firms in the restructuring industry better use social media and multimedia platforms to drive business development?

    • What are some of the challenges and strategies that come into play when exiting a business?

    About Kobus van der Zel

    With more than 28 years of experience in business improvement, Kobus van der Zel is passionate about helping overleveraged companies reverse the root causes of past underperformance, return to market-share growth, and achieve optimum business value in future sale transactions. As the owner of Ravinia Capital Performance Improvement, he works with business owners to realize higher valuations and effectuate successful turnarounds when they need it most. Over the last several years, Kobus has successfully guided numerous middle-market companies, including Swisher Hygiene, West Coast Commercial Printer, and Cycle Force, through the turnaround process. He is author of the 2011 book, The Forces of Progress, an exploration of the factors that fuel or hamper progress in modern companies.

    About Justin Bernbrock

    Justin Bernbrock is a partner in the Finance and Bankruptcy Practice Group in Sheppard Mullin's Chicago office, where he focuses on all aspects of corporate restructuring, bankruptcy and financial distress. He represents clients across a wide range of matters, including debtor and creditor representations. He has substantial experience in out-of-court and in-court restructurings, primarily in the Southern District of New York, Eastern District of Virginia, District of Delaware and Southern District of Texas.

    Contact Information

    Kobus van der Zel

    Justin Bernbrock

    Resources

    https://www.rcpi-capital.com/

    Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

    If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Google Podcasts, Stitcher or Spotify. It helps other listeners find this show.

    This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.
    Show More Show Less
    44 mins
  • Restructure This! Episode 25: The Role of Professional Organizations in the Restructuring Industry with Scott Stuart of TMA

    Restructure This! Episode 25: The Role of Professional Organizations in the Restructuring Industry with Scott Stuart of TMA
    Oct 6 2023
    Sheppard Mullin's Restructure THIS! podcast explores the latest trends and controversies in Chapter 11 bankruptcy, commercial insolvency and distressed investing. In this episode, Scott Stuart, CEO of Turnaround Management Association (commonly referred to as "TMA"), joins us to discuss the role of professional organizations in the restructuring space, including what distinguishes TMA from similar organizations, the importance of its diverse membership, and how restructuring has evolved over the last 30+ years. What We Discussed In this Episode: What brought you to where you are today? What's your background in the restructuring industry? What is TMA? Why is it important? How does its unique structure distinguish TMA from similar organizations in the restructuring space? Why does it matter that TMA is agnostic and doesn't cater to a specific type of restructuring professional? What are some of the unique groups within TMA that members can join? Since becoming CEO, how has TMA promoted and enhanced the visibility of members with diverse backgrounds? How have awards programs paid off for TMA and its membership? Can you explain why such an impressive roster of partners have joined TMA's growing list of sponsors? What has been the net effect of the TMA's Hall of Fame? What's on the agenda for this year's annual conference in San Francisco? As a restructuring professional for over 30 years, what's your perspective on how the space has evolved? About Scott Stuart Scott Stuart is CEO of TMA, a global nonprofit organization and professional community focused on turnaround management, corporate restructuring, and bankruptcy. Established in 1988, the organization boasts approximately 10,000 members, including turnaround practitioners, attorneys, accountants, advisors, liquidators, bankers, academics, government employees, and members of the judiciary, in 55 chapters spread across 20 countries and 4 continents. Scott has held volunteer leadership roles at TMA for nearly 20 years. Prior to becoming TMA's CEO in 2018, he gained 30 years of experience in a variety of diverse roles in the corporate restructuring space. As an attorney, Scott has held positions at private law firms, in-house corporate legal departments, and the Department of Justice's United States Trustee Program. Scott has also served as a corporate executive, including Executive Director at Donlin, Recano & Company, Inc. In addition, Scott co-founded Esquify, Inc., a legal tech startup in the document review space. About Justin Bernbrock Justin Bernbrock is a partner in the Finance and Bankruptcy Practice Group in Sheppard Mullin's Chicago office, where he focuses on all aspects of corporate restructuring, bankruptcy and financial distress. He represents clients across a wide range of matters, including debtor and creditor representations. He has substantial experience in out-of-court and in-court restructurings, primarily in the Southern District of New York, Eastern District of Virginia, District of Delaware and Southern District of Texas. Prior to private practice, Justin served with distinction as an Aviation Warfare Systems Operator in Patrol Squadron FIVE and as a Weapons Tactics Instructor in Patrol and Reconnaissance Wing ELEVEN. During his nearly 10 years of active duty in the United States Navy, he was awarded the Navy Commendation Medal twice, including once for meritorious service during combat operations in Iraq. Justin also received the Global War on Terrorism Medal for his service in Kandahar, Afghanistan. Contact Information Scott Stuart Justin Bernbrock Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week. If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Google Podcasts, Stitcher or Spotify. It helps other listeners find this show. This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.
    Show More Show Less
    47 mins
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