Wall Street Prep
Corporate Restructuring Course
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Certification Program + 2 Bonus Courses

Corporate Restructuring Course

66 Lessons
4h 46m
5,858 Students

Learn the central considerations and dynamics of both in- and out-of-court restructuring along with major terms, concepts, and common restructuring techniques. Includes 2 Bonus Courses: Restructuring Modeling and Restructuring Primer for Junior Bankers.

Understand the Restructuring and Bankruptcy Process

  • Step-by-Step Video + Real Case Studies Using real case studies and a step-by-step approach, you will learn the central considerations and dynamics of both out-of-court and in-court restructuring, along with major terms, concepts, and common restructuring techniques.
  • Taught by Experienced Restructuring Instructor-Practitioners This is the same training program Wall Street Prep delivers to restructuring groups at some of the world'd top investment banks. It is taught by former investment bankers who have worked on high-profile corporate restructuring deals.
  • Shareable Certification Enrollment includes the option of sitting for the Corporate Restructuring Certification Exam. Those who successfully pass the exam can present their achievement on their resumes and LinkedIn (see below).

What You'll Learn

Course 1: Understanding Corporate Restructuring
  • The Restructuring & Bankruptcy Framework
  • Explore the various factors that lead to financial distress.
  • Learn how to impute asset values based on market prices for a company’s equity and debt trading levels.
  • Connect the concept of reorganization value to more traditional valuation concepts like enterprise value.
  • Understand priority of claims.
  • Learn how inter-creditor agreements, secured vs unsecured, maturity and corporate structure all play a role in restructuring outcomes.
  • Explore how the competing motivations and interests of the stakeholders in restructuring all impact the process.
  • Valuation & Recovery Analysis and Distressed M&A
  • Dive deeper into common analyses, including valuation based on management projections, liquidity analysis, a recovery waterfall, and potential equity value post emergence.
  • Learn how restructuring fits within a variety of strategic alternatives for firms under distress.
  • Understand the mechanics of credit bidding and 363 sales
  • Model valuation and capital structure scenarios and the impact on recoveries to the various creditors.
Bonus Course: Restructuring Modeling
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.
Bonus Course: Demystifying Restructuring Investment Banking
  • For incoming restructuring bankers and current bankers looking to further their restructuring or distressed debt knowledge.
  • Restructuring IB process overview.
  • Learn the skills you'll need early in your IB career.
  • Walk through the analyses and modeling-related techniques used by early-career IB analysts and associates using a case-study.
  • Assumes little to no prior knowledge of restructuring.
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Who is this program for?

  • Restructuring Investment Banking Professionals
  • Distressed Debt Investors
  • FP&A and Corporate Finance
  • Turnaround Consultants & Advisors
  • Private Equity Professionals
  • Anyone interested in corporate restructuring

What's Included

Understanding Corporate Restructuring

Using real case studies and a step-by-step approach, learners will be introduced to the central considerations and dynamics of both out-of-court and in-court restructuring, along with major terms, concepts, and common restructuring techniques. Learners will explore the various factors that lead to financial distress and how to impute asset values b ...
Using real case studies and a step-by-step approach, learners will be introduced to the central considerations and dynamics of both out-of-court and in-court restructuring, along with major terms, con ...
Using real case studies and a step-by-step approach, learners will be introduced to the central cons ...
View Course TOC

Restructuring Modeling

This course is designed to teach restructuring and bankruptcy modeling to students and professionals pursuing careers in restructuring, bankruptcy and distress. Using the Borders bankruptcy as our primary case study, we begin with an overview of the restructuring and bankruptcy framework. Then we will learn to build an advanced bankruptcy model from scratch, incorporating bankr ...
Bonus Course: This course is designed to teach restructuring and bankruptcy modeling to students and professionals pursuing careers in restructuring, bankruptcy and distress. Using the Bord ...
Bonus: This course is designed to teach restructuring and bankruptcy modeling to students an ...
View Course TOC

Demystifying Restructuring Investment Banking for Incoming Analysts and Associates

This course is designed for incoming restructuring bankers and current bankers looking to further their restructuring or distressed debt knowledge. It provides an in-depth overview of restructuring and identify the skills you'll need in the early days of your restructuring IB career. We begin by introducing the restructuring process as well as common pitchbook and financial ana ...
Bonus Course: This course is designed for incoming restructuring bankers and current bankers looking to further their restructuring or distressed debt knowledge. It provides an in-depth ove ...
Bonus: This course is designed for incoming restructuring bankers and current bankers lookin ...
View Course TOC

Course Samples

watch video
In-court Vs Out-of-court Restructuring, Part 1
watch video
Treatment Of Claims
watch video
Role Of Valuation In Restructuring
watch video
Determinants Of Priority
watch video
Liquidation Analysis
watch video
Estimated Recoveries

Get the Corporate Restructuring Certification

Trainees are eligible to take the WSP Corporate Restructuring Certification Exam for 24 months from the date of enrollment. Those who complete the exam and score above 80% will receive the certification. The exam is a challenging 2-hour online examination covering the most difficult concepts covered in the program.

Course Highlights

  • Used on the Street

    This is the same comprehensive course our corporate clients use to prepare their analysts and associates.

  • Real Case Studies

    This course uses actual financial filings to show how restructuring is done in the real world.

  • Taught by bankers

    Our instructors are former I-bankers who give lessons real-world context by connecting it to their experience on the desk.

  • Instructor Support

    Have a question on course content? Communicate directly with instructors by asking questions throughout the course.

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Earn CPE Credits with WSP Online Courses

CPE logo Wall Street Prep is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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