Corporate Financial Distress: Restructuring and Turnaround

Financial distress in corporations is a frequent phenomenon, particularly during times of national and international economic crises; but this can be used as an opportunity and incentive to implement a systematic process of reorganization and revitalization of a business. These plans for recovery can lead to future successes and sustainability rather than just a fix to ensure survival of the business. Crises, if managed promptly from a strategic point of view, can lead to pragmatic changes and bring new value to the company, avoiding market foreclosure and the negative social consequences.

Alberto Tron is Adjunct Professor of Corporate Finance in the Department of Finance at the Bocconi University of Milan, Italy. Over his professional and university career, he has co-authored 13 books, wrote more than 50 publications in national and international journals and has been a speaker at numerous conferences on corporate finance, financial market law and regulation, accounting and financial reporting issues linked to supervisory bodies, auditing and business crisis management.