Learn the central considerations and dynamics of both in- and out-of-court restructuring along with major terms, concepts…

Wall Street Prep – Corporate Restructuring

Wall Street Prep - Corporate Restructuring

Learn the central considerations and dynamics of both in- and out-of-court restructuring along with major terms, concepts, and common restructuring techniques. Includes 2 Bonus Courses: Restructuring Modeling and Restructuring Primer for Junior Bankers

Understand the Restructuring and Bankruptcy Process

Step-by-Step Video and Real Case Studies

Using real case studies and a step-by-step approach, you will learn the central considerations and dynamics of both out-of-court and in-court restructuring, along with major terms, concepts, and common restructuring techniques.
Taught by Experienced Restructuring Instructor-Practitioners

This is the same training program Wall Street Prep delivers to restructuring groups at some of the world’s top investment banks. It is taught by former investment bankers who have worked on high-profile corporate restructuring deals.
Shareable Certification

Enrollment includes the option of sitting for the Corporate Restructuring Certification Exam. Those who successfully pass the exam can present their achievement on their resumes and LinkedIn (see below).

What You Will Learn

Course 1: Understanding Corporate Restructuring

The Restructuring & Bankruptcy Framework

Explore the various factors that lead to financial distress.
Learn how to impute asset values based on market prices for a company’s equity and debt trading levels.
Connect the concept of reorganization value to more traditional valuation concepts like enterprise value.
Understand priority of claims.
Learn how inter-creditor agreements, secured vs unsecured, maturity and corporate structure all play a role in restructuring outcomes.
Explore how the competing motivations and interests of the stakeholders in restructuring all impact the process.

Valuation & Recovery Analysis and Distressed M&A

Dive deeper into common analyses, including valuation based on management projections, liquidity analysis, a recovery waterfall, and potential equity value post emergence.
Learn how restructuring fits within a variety of strategic alternatives for firms under distress.
Understand the mechanics of credit bidding and 363 sales
Model valuation and capital structure scenarios and the impact on recoveries to the various creditors.

Bonus Course: Restructuring Modeling

Model some of the most challenging aspects of a bankruptcy, including:

Working capital reclassifications such as critical vendors/AP.
DIP financing, borrowing base and availability calculations, adequate protection payments.
Balance sheet roll-forward schedules that maintain a consistent link structure to the cash flow statement and increase transparency.
Fees, rejection claims and CODI.
Model recoveries at various operating scenarios.
Construction of a recovery waterfall that can accommodate scenarios that deviate from the absolute priority rule.

Using conditional formatting and Excel’s native date formulas to sensitize for different filing and emergence date scenarios.
Avoiding circular references in the model while maintaining model integrity.
Incorporating best practices for error-proofing, auditing, and model efficiency.
Understanding how Fresh Start Accounting affects the model.

Bonus Course: Demystifying Restructuring Investment Banking

For incoming restructuring bankers and current bankers looking to further their restructuring or distressed debt knowledge.
Restructuring IB process overview.
Learn the skills you’ll need early in your IB career.

Walk through the analyses and modeling-related techniques used by early-career IB analysts and associates using a case-study.
Assumes little to no prior knowledge of restructuring.

Who is This Program For?

Restructuring Investment Banking Professionals
Distressed Debt Investors
FP&A and Corporate Finance
Turnaround Consultants & Advisors
Private Equity Professionals
Anyone interested in corporate restructuring

What’s Included

Understanding Corporate Restructuring

Using real case studies and a step-by-step approach, learners will be introduced to the central considerations and dynamics of both out-of-court and in-court restructuring, along with major terms, concepts, and common restructuring techniques. Learners will explore the various factors that lead to financial distress and how to impute asset values b …

Bonus Restructuring Modeling

This course is designed to teach restructuring and bankruptcy modeling to students and professionals pursuing careers in restructuring, bankruptcy and distress. Using the Borders bankruptcy as our primary case study, we begin with an overview of the restructuring and bankruptcy framework. Then we will learn to build an advanced bankruptcy model from scratch, incorporating bankr …

Bonus Demystifying Restructuring Investment Banking for Incoming Analysts and Associates

This course is designed for incoming restructuring bankers and current bankers looking to further their restructuring or distressed debt knowledge. It provides an in-depth overview of restructuring and identify the skills you’ll need in the early days of your restructuring IB career. We begin by introducing the restructuring process as well as common pitchbook and financial ana …

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