Restructuring

Let’s imagine that you’re working at a distressed debt hedge fund. You’ve been following a company that’s been in distress for a while and it has a...

As you can imagine, restructuring deal flow was quite subdued in 2021 relative to 2020. However, that doesn't mean that restructuring bankers have ...

While 2021 has been an incredibly quiet year in the world of restructuring - as was to largely be expected given how much deal activity was pulled ...

Throughout the early 2000s, it was increasingly recognized that the Chapter 11 process was not operating as it was intended to. Instead of the proc...

Investment banking is a game of musical chairs. Routinely top bankers are poached by competitors - often those a few notches down the league table ...

Every investment bank will try to tell you that they're unique. They'll say that they run lean deal teams, swing for large mandates, and really emp...

A little over a year ago I put out the Restructuring Interviews course, because it's what I wish I had when interviewing for my summer analyst stin...

Probably the trickiest kind of restructuring questions surround structural subordination and the dynamics of HoldCo / OpCo structures. These were ...

Coming up with a precise definition for special situations investing is a nearly impossible task. Every special situations group will have a differ...

I've been asked quite a bit to write about distressed debt interview questions and more generally about how to think about distressed investing. So...

Lazard is one of the most storied investment banks in the world with a history stretching back over 172 years.  Recruiting for Lazard is a bit dist...

While league tables in M&A tend to be relatively static - with firms taking years to rise or fall just a few positions - the smaller playing fi...