Deloitte Launches Global Special Situations Effort in New York City for Complex, Cross-border Financial Restructurings

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Jul 16, 2019, 10:22 ET

NEW YORK, July 16, 2019 /PRNewswire/ -- To assist clients worldwide with highly complex cross-border financial restructurings, Deloitte's restructuring services team has launched a new, New York-based special situations effort to complement similar Deloitte capabilities offered in other major financial hubs worldwide. Michael Epstein, a Deloitte Risk and Financial Advisory restructuring services principal, Deloitte Transaction and Business Analytics LLP, will lead the New York effort.

Senior Deloitte restructuring professionals from U.S.-based Deloitte corporate restructuring group and elsewhere in Deloitte's global network of member firms will offer lead financial advisory services to capital providers, corporates and their stakeholders where complex, multijurisdictional businesses and their debt structures are under pressure and need repair.

"We've seen a shift away from regulated bank debt and toward significantly altered debt structures infused with nonregulated capital, which have an ever-increasing nexus to New York City," said Kirk Blair, Deloitte Risk and Financial Advisory partner and U.S. corporate restructuring group leader, Deloitte Financial Advisory Services LLP. "To help our clients navigate that funding shift and access major financial hubs around the world — including New York City, London, Hong Kong, Toronto, Beijing, Singapore and others — we're investing in our restructuring practice with the New York Special Situations launch."

Andrew Grimstone, a UK-based special situations partner, in Deloitte North and South Europe LLP, and recently-appointed global restructuring services leader, added, "Market volatility and other factors can quickly trigger liquidity or operational issues, putting pressure on overleveraged capital structures. Our global special situations team as well as the broader Deloitte network of 1,500 restructuring professionals worldwide, as well as industry and other specialists globally, are on hand to help."

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SOURCE Deloitte