Restructuring Interviews

The Overview Guide is 101-pages detailing:

  ✓ The day-to-day work you should expect

  ✓ What concepts and terms you absolutely must know

  ✓ What kind of deliverables exist in RX (with examples)

This guide walks through 143 of the RX-specific question and answers you need to know. Ranging from contextual questions about how RX operates in practice to the specifics of how we think about distressed companies. These aren't one-line answers, they often stretch for multiple paragraphs.

Knowing RX-specific answers sets you far apart. But you still need to know the traditional technicals. I've put together 96 of the most popular technicals (most having RX-specific spin on them). You still need to know your accounting and valuation for an interview (even if it's not as relevant in RX). This will ensure you know how traditional technicals are viewed through a RX mindset.

This guide contains 145 questions and answers developed partly from the Bible of distressed debt: Distressed Debt Analysis by Moyer. This will teach you the finer details around the bankruptcy code and how to think about distressed companies. 

This guide contains 78 questions and answers developed partly from Distress Investing by Martin Whitman (the legendary distressed hedge fund manager). These questions are slightly more practical and accessible and I've sprinkled this guide with more contextual questions throughout.

This guide contains 108 questions and answers developed partly from A Pragmatist's Guide to Leveraged Finance by Kricheff. These questions will give you a practical, fulsome understanding of capital structures and debt. 

Creating and understanding capitalization tables are the most important tasks for a new entrant to RX or distressed debt. So much so that in some interviews you'll be given cap tables and asked questions about them. Here I give two examples along with Q&A.

This guide goes over six "ground rules" for RX networking along with 18 restructuring-specific networking questions that are highly impressive to ask. These questions will help you stand out, show off your knowledge of the industry, and get that first-round interview.

The Serta Simmons restructuring was one of the most talked about (and controversial!) of 2020. This 23 page case study walks through how Serta's restructuring demonstrates the two major trends in RX solutions over the past few years and why they will matter for years to come.

This 18 page guide contains some more obscure and difficult restructuring interview questions that may pop up in your interviews. In total there are just 16 questions in the guide, so I do a deep dive to fully explain the concepts and theories behind these questions.

These are some of the most conceptually difficult and rare questions to get in an interview (although since I put out this guide they've become more popular -- oops!). This nine page guide contains 14 questions where I try to build up your intuition by going over progressively more in-depth examples.

This 24 page guide contains a mix of questions that came up during the '21-22 recruiting cycle, along with some trickier questions that I developed to try to build up your understanding of certain thorny topics (as per usual, my answers to some of these questions are several pages long).

This 15 page guide builds up your bond math intuition from scratch. In the end, there are only a few kinds of bond math questions asked in interviews. But I've added a number of my own (very long) questions and answers here that will (hopefully!) give you a much more airtight understanding.

In some superdays you'll need to do a little case study. When many hear this their blood begins running a bit cold. But these case studies just require stitching together some core restructuring concepts. In this 20 page guide we'll walk through the most common type of case and, as per usual, dive deeper than you'd ever need to in an interview.

I created the original Serta Guide in 2020 in the immediate aftermath of their notorious, novel, and (some believe) nefarious out-of-court transaction. However, a lot has happened since then (including Serta filing in 2023!). So in this 28 page guide I dive deeper into the mechanics of Serta’s uptier, the drop-down that was (unsuccessfully) pitched by Apollo, et al., the in-court fights that took place upon filing, and how it was all resolved (for now…).

The rationale behind creating both Serta guides was to introduce the two trends that have loomed large in restructuring over the last few years: non-pro rata uptiers and drop-downs. However, in 2023 a new trend has emerged in the form of double-dips. In this 35 page guide I break down (in much more detail than you’d ever need to know for interviews) the mechanics of double-dips and the four double-dip transactions that have occurred thus far (At Home, Sabre, Trinseo, and Wheel Pros).

This course is aimed primarily at those looking to break into restructuring investment banking. However, it contains hundreds of questions, examples, and more making it relevant for anyone interested in distressed debt or restructuring (e.g. credit investors, PE associates, etc.)

The course is entirely digital. Immediately after ordering you will receive an e-mail with your unqiue link to access the member's area where all the content is housed. You can then get started right away. Courses can only be accessed by one person and downloads are tracked. 

If for whatever reason you're unhappy with the course, a refund will be made. However, hundreds have bought the course and no refunds have been asked for yet, which I'm incredibly proud of.