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Jonathan Friedland
Experienced attorney who counsels businesses, their boards, and their owners
What professional organizations should one consider joining when getting seriously involved in the world of Distressed M&A, Corporate Restructuring, Insolvency & Bankruptcy?
Like any hobby or industry, there are plenty of associations in the space that one can join to learn and get to know others in the industry. The article, Dealing with Corporate Distress 03: Welcome to the Jungle: The Animals of the Corporate Restructuring Industry, lists and profiles most of the most obvious organizations worth considering:
But there's a new girl in town and she's looking good! (Forgive me; I am a child of the 70s and used to watch Alice every Sunday night with my Bubby- it was part of the All in the Family, Jefferson's, One Day at a Time, Alice lineup. Anyone? Anyone? Bueller? Oh, and here's a bit of trivia: Alice's son, Tommy was played by Phillip McKeon, who like too many child stars, passed away too soon (at the age of 55, in 2019). But his sister is Nancy McKeon and she is alive and well. Nancy, by the way, can be seen on Amazon Prime in the one season show, Panic. And Linda Lavin is still active and fantastic.- - - But I digress...
Actually, there are two new girls in town that were not listed in that DailyDAC article mentioned above: Restructuring Network & the Commercial Receivers Association.
Restructuring Network
Restructuring Network (LinkedIn page) (website) is an informal network for industry professionals to build long-lasting professional and personal relationships. All of its events to date have been online, with a short panel discussion on a current topic effecting the Industry followed by speed networking (one-on-one meetings).?They are fun.
Restructuring Network was founded by Industry veterans Oren Klein and Joshua Olshin . It's leadership includes: Taurat Hossain , Richard Hauer , Sari B. Placona , Harvey Topitz , Chuck Persing , Daniel Krasna , Freddie Smithson , J.W. Clements & Adrienne Woods, Esq. .
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Commercial Receivers Association
Commercial Receivers Association (LinkedIn page) (website) was founded, in part, to empowering the education and standardization of commercial receivership administration. Co-founded by Eric Moraczewski & Eric Peterson , CRA is very new but growing extremely fast, the CRA provides its members with education, networking and practical resources for its members. The CRA board of directors currently is comprised of Eric and Eric, as well as Sonette Magnus , John Cruciani , & Emily E. Cantwell .
Don't know DAC?
DailyDAC is the leading source of actionable intelligence for middle market distress. It's researchers and analysists give opportunistic buyers and investors a head start in seeing when companies may be selling assets and when owners may be selling companies in situations requiring "urgency." Urgency often means that the company at issue is going through sever financial distress or another existential threat to its existence, such a a business divorce.
DailyDAC also prides itself on being the leading source of plain English education about corporate restructuring and insolvency in the United States to those who "dabble."
In other words, while there are plenty of reliable, trustworthy, and objective resources for people who work all day every day in the world of corporate restructuring and insolvency to get advanced education, there are few, if any such resources that a business owner, executive, or director can turn to when faced with financial trouble or an opportunity to benefit from another company's financial trouble.
Sure, there are plenty of firms out there trying to sell their particular services and solutions, and they pay Google a lot of money to game SEO in order to do that. But, as the saying goes, when you're a hammer, every problem is a nail.
This is where DailyDAC come in. Its revenue does not come from selling you professional services, trying to make loans to you, or any other such motive. And rather spending crazy money on paid search, DailyDAC produces reliable, trustworthy, and objective thought leadership created by the a large number of the best attorneys, accountants, investment bankers, lenders, assignees, trustees, and receivers who work in the sector (and unlike some other resources, one cannot pay-to-play on DailyDAC; its authors and speakers are an invitation-only meritocracy).
At the very least, you should subscribe to the free weekly newsletter.