Restructuring & Distressed Analysis

Restructuring & Distressed Analysis — Advanced Course

When a company can't service $2,800mm in debt, the question isn't "if" it restructures — it's how, and who ends up owning the business afterward. This course teaches you to build a complete distressed analysis from credit metrics through recovery waterfall to post-reorg returns.

Case study: OmniRetail Ltd. — $2,800mm in distressed debt, modeled across three restructuring paths.

What's inside:

🔴 Before — blank, properly structured templates across Distressed Metrics, Recovery Waterfall, Restructuring Scenarios, and Exit Valuation — build the entire analysis yourself

🟢 After — the complete, fully worked solution to check your build against

📉 Distressed metrics — leverage (9.7x), coverage ratios, and a 14-month cash runway calculation

💧 Full recovery waterfall — Absolute Priority Rule applied across Bear/Base/Bull enterprise value scenarios, identifying the fulcrum security (the TLB tranche in the base case)

⚖️ Three restructuring paths compared side by side — Out-of-Court Exchange vs Prepackaged Bankruptcy vs full Chapter 11, with fee, timeline, and recovery differences

🏛️ Chapter 11 mechanics — DIP financing, cramdown requirements, 363 sales, and the difference between a Plan of Reorganisation and an asset sale

💰 Loan-to-own strategy — entry price, post-reorg equity value, and IRR for distressed investors who buy the fulcrum debt to become the new owners

🎯 Sensitivity tables — recovery % vs enterprise value, fulcrum IRR vs entry price

❓ 40 interview-style Q&As covering APR, fulcrum identification, Chapter 11 process, and distressed investing strategy

📖 Full glossary — fulcrum security, cramdown, DIP financing, stalking horse, credit bid, and more

Format: Complete Excel workbook + branded PDF study guide.

Who this is for: Distressed debt / special situations interview candidates, restructuring advisory professionals, and anyone who wants to understand how creditors actually fight over what's left when a company runs out of cash.

Precision. Discipline. Mastery.