Turnaround Management Association Newsletter
Turnaround Management Association (TMA) – New York Semi-Annual Newsletter. Good short read and an interesting quote on page 6!
I HAVE BEEN SURPRISED BY THE AMOUNT
OF FAILED ALTERNATIVE ENERGY RELATED MATTERS
WHICH CROSSED OUR DESK, AND ALSO THAT THE LABOR
SHORTAGE SEEMED TO STABILIZE. HEADING INTO 2025, I EXPECT
THE RESTRUCTURING MARKET TO IMPROVE BECAUSE I BELIEVE
STAGFLATION WILL LINGER INTO 2025.Dean Vomero, Applied Business Strategies
TMA – New York Semi-Annual Newsletter
Applied Business Strategies Named Burgess Biopower Restructuring Advisor
Burgess Biopower and co-debtor Berlin Station entered Chapter 11 February 9, 2024 armed with a dual-track plan process that would either sell the biopower company’s assets or hand them to its lenders.
The company says it was driven into bankruptcy amid multiple disputes with the sole buyer of its energy. Those disputes are complicated further by arguments over credits and offsets, as well as defaults and the purchase agreement’s termination. The New Hampshire-based company filed in the
Tom Pratt Named to Toledo Solar Inc. Board of Directors
Tom Pratt has been named to the Board of Directors for Toledo Solar, Inc. (“TSI”). Mr. Pratt, in his capacity as Interim President, Treasurer and Secretary has been leading TSI through a restructuring since early July, 2023. TSI is an early-stage manufacturer of state-of-the-art American Made Cadmium Telluride solar modules for the residential, commercial, and industrial markets.
Two Valuations for Assignments for the Benefit of Creditors
Applied Business Strategy has recently completed two more valuation projects for bonding purposes in connection with General Assignments for the Benefit of Creditors (“ABCs”) that have been filed in the Court of Chancery of the State of Delaware. The companies consisted of an early-stage research and development company in the biotechnology sector and a company specializing in transfusable blood services. ABS determined the value of various assets, including accounts receivable, deposits, prepaid expenses, supplies inventory,