Corporate Restructuring Course
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
- 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.
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.
- 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.
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
Demystifying Restructuring Investment Banking for Incoming Analysts and Associates
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.
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.
Have a question on course content? Communicate directly with instructors by asking questions throughout the course.
I find all WSP courses to be of very high standard and very well structured. It is also extremely helpful to be able to revisit certain topics when needed. Rhetorically and in terms of speed/density/logic, WSP courses are top of the class and second to none. WSP courses provide inspirations as to how to improve modeling work on a day to day basis, be it in LBO/DCF/general financial statement modeling, or as in this case Restructuring. Once again, very well done WSP team!
I’m an incoming intern in a Restructuring group. I was impressed by the primers provided and the breadth of concepts covered in this course. I’d happily refer someone interested in Rx to this course.
The explanations are clear and helpful for me as a beginner. I especially like the access to Macabacus, I think that’s a nice touch. I hope to be able to put what I’ve learned to good use when I make a move to go into the restructuring space.
I found the Restructuring course to be extremely informative as someone with minimal prior knowledge of bankruptcy and restructuring. The course does well to give a summary of the process, and explaining the significance of “pre-petition” and “post-petition” events.
I used the course to prepare for an upcoming investment banking interview and I’ll be making a final decision on full-time offers next week (thanks to WSP :)).
The course helped me obtain an offer from arguably the top restructuring and turnaround consulting firm.
I’m currently a management consultant with a large global firm but wanted to shift into restructuring for a number of reasons.
I wanted to refresh my modeling skills while also getting a crash course on bankruptcy and restructuring as I had some interviews approaching.
Your course checked the boxes and I have an offer from firm name omitted. Firm name omitted was impressed I took it before my interviews.
Having an online course was key. At this level, being able to determine the study pace is critical. Supporting documents were terrific.
I took this course to prepare for my restructuring interviews and to learn modeling skills should I secure an offer in restructuring. I found the course to be useful and worthwhile – especially as good preparation for my interviews.
I really believe that WSP does a great job in clearly explaining difficult subjects as well as teaches both students and working professionals very useful modeling techniques. Many of the modeling techniques that I have learned through the courses I have used in my career. Extremely useful and I wish I took the course prior to my first job in restructuring.
Very few other providers offer courses that are as specialized as Wall Street Prep. The videos and the supplemental materials have been very helpful so far.
I chose this course over other providers because Wall Street Prep provides training to large and well-known companies in the finance sector. The videos were very thorough and descriptive and along with the step-by-step manual it made it really easy to understand.
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