Restructuring

The renegotiation or reorganisation of a distressed company’s capital structure — out of court (consensual amendments, exchanges) or in court (Chapter 11 in the US, administration or schemes/plans in the UK) — to restore solvency.

Where Restructuring comes up

Restructuring Interview Questions: Fulcrum, Waterfall & BeyondRX interviews add a layer on top of standard technicals: capital structure under stress. Here is that layer.Read the guide — 8 min The Consulting Industry: How It Is Structured and How It EarnsThe economics explain the career. Understand the pyramid and the billing model, and up-or-out, the hours and the hiring volumes all stop being mysterious.Read the guide — 10 min Bulge Bracket vs. Boutique Superday: What Actually DiffersSame day, same format on paper — different people in the room, and a different thing being tested.Read the guide — 7 min

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Credit and restructuring models

Related Restructuring terms

Chapter 11 Fulcrum Security Recovery Waterfall Debtor-in-Possession (DIP) Financing Distressed Debt Exchange Offer

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Browse the full glossary — 340 finance recruiting and technical terms, in plain English.