This book is a must-read for wholesale bankers and other professionals dealing with companies in financial distress.
Heavy Weather Banking provides a structured approach to the various lending mistakes and lessons learned from actual banking practice, and a relevant toolbox on restructuring do’s and don’ts, both in terms of content and effective behaviour.
Quickly following the dotcom bubble burst of 2000, and the financial-economic crisis that started in 2008, we are currently experiencing the third major credit crisis of this century. The outcome remains uncertain, but it seems likely that many corporates will struggle to survive.
This textbook on distressed corporate debt restructuring is written from the bank’s viewpoint, and concentrates on how the bank should best manage problematic loans, causing as little as possible financial and reputation damage to the bank.
Heavy Weather Banking is not an academic finance book, but rather a practical, easily accessible textbook that provides a comprehensive overview of the many topics, from early warning signals and lessons learned, to reaching a successful restructuring. The book includes many real-life examples.
"This is a valuable addition to the literature on distressed debt and one which I shall be recommending to all of my bank clients and trainees in this space." - Adrian Grant, Consultant and Trainer on loan origination & restructuring
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The book outline - acknowledgements & disclaimer
1. Early warning signals and red flags
2. Leverage and debt structural issues
3. EBITDA, liquidity and cash flow
5. Syndicate and other lenders
6. Ownership and management
7. Industry and Market
8. Collateral / Legal issues or "The insecurity of security"
9. Creative accounting and fraud
10. Other reasons for loan losses
RESTRUCTURING AND RECOVERY
11. Causes of misfortune
12. Customer centricity - but who is our client?
13. Stakeholders - trust and liquidity
14. When to transfer to restructuring - the Crisis Timeline
15. Content and Behavior in Restructuring
16. Restructuring in three phases
17. Critical considerations for the bank
18. Critical considerations for the company
19. Sources of conflict and dealing with conflict
20. GCR function and place in the bank organization
Annex 1 - ad Ch. 15 Standstill Considerations
Annex 2 - ad Ch. 16 Restructuring in three phases - the first drill
Annex 3 - ad Ch. 16 Restructuring in three phases - digging deeper
Annex 4 - ad Ch. 16 Restructuring in three phases - the second drill
Annex 5 - ad Ch. 16 Restructuring in three phases - the third drill
About the author
Managementboek Top 100
- Algemeen management
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