Big restructuring
Restructuring Modeling

This course is developed specifically for restructuring-focused investment bankers, consultants and distress debt investors. Using the high-profile Borders bankruptcy as the primary case study, trainees will learn the restructuring framework, followed by building a step-by-step three-statement bankruptcy model, including robust debt and creditor schedules, DIP / cash flow analysis and a recovery waterfall.

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

How to follow the course:

  • Click on "Get this deal"
  • You will be redirected to our partner website
Wall Street Prep

Wall Street Prep was established by investment bankers to enhance the competitive profile of students who seek a career in the financial services industry. Our self-study courses and live seminars are used by thousands of undergraduates, MBAs, investment bankers, and other finance professionals. Each program is designed to deliver the financial skills that will give you a competitive edge as you pursue your career. Our Client List includes top investment banks, private equity firms, investment funds and business schools.