Distressed Opportunity Bulletin - Issue 6

Distressed Opportunity Bulletin

Ice Miller launched its Distressed Investment Group ("DIG") to identify and facilitate distressed investment opportunities and assist clients through creative and strategic acquisitions and investments in bankruptcies, in-court restructurings, out-of-court restructurings and other insolvency-related transactions.

DIG is comprised of some of Ice Miller's most experienced and entrepreneurial bankruptcy, corporate restructuring, finance, real estate, mergers and acquisitions, corporate and tax attorneys. Its members have significant experience advising clients on loan-to-own strategies, debt and equity sales and restructurings, recapitalizations, note purchase loans, debtor-in-possession and exit financings, claims trading, distressed real estate acquisitions, section 363 sales, rescue capital deployment, and other insolvency-related and special situations transactions in the context of chapter 11 cases and proceedings, defaulted-loan litigation, workouts, foreclosures, deeds in lieu of foreclosure, Article 9 sales, assignments for the benefit of creditors, and receiverships.

DIG’s members regularly advise investment funds, private and institutional investors, lenders, private equity firms, operators and other interested parties in all aspects of strategic distressed investing and related transactions. Its members frequently serve as bond counsel, issuer's counsel, bank counsel, and underwriter's counsel in a variety of taxable and tax-exempt municipal financings involving hospitals, health systems, senior living providers, single- and multi-family housing projects, airports, 501(c)(3) organizations, state and local governmental issuers and municipal power agencies.

DIG’s members also have significant experience representing private and institutional investors, including private equity real estate funds and REITs, developers and operators in the acquisition, redevelopment and operation of distressed real estate across various asset classes.

To learn more about DIG or any opportunities listed in this Bulletin or, if you have any opportunities you’d like us to share in our next Bulletin, please visit our webpage or contact any of our DIG members.

Visit our webpage

Contact a DIG Member

Jay Augustyn
Jason Berne
Chris Bordoni
John Burke
Phillip Coover
Tyson Crist
Louis DeLucia
Matt Ehinger
Alyson Fiedler
Christina Fugate
Philip Genetos
Jane Herndon
Jeff Hokanson
Brent Huber
Tyler Kalachnik
Tom Kesoglou
Safet Metjahic
Laurie Miller
David Nie
Amir Ovcina
Thomas Pampush
Eric Singer
Scott Snively
Taryn Stone
Chase Stuart
Jason Torf
Kevin Woodhouse
J.C. Brown
John Cannizzaro
Michael Ott
Chelsea Abramowitz
Jeff Karas
Simone Park
John Acquaviva
Marita Clarke
Kim Stapleton

Opportunities in
the distressed market

Please click the chart below to download a full PDF of currently available distressed investment opportunities.

Dig IN The NEWS

Protecting Net Operating Losses in Distressed Investments

Many businesses recognized significant net operating losses or “NOLs” as a result of the COVID-19 pandemic. The Internal Revenue Code of 1986, as amended, generally allows many types of taxpayers (including individuals, estates and trusts, exempt organizations, and most C corporations) to utilize NOLs to offset taxable income in other tax years, subject to certain limitations. In fact, the CARES Act, as part of COVID-19 relief legislation, relaxed the limitation on carrying back NOLs for the 2018 through 2020 tax years, generally allowing NOLs to be carried back to each of the five taxable years preceding the loss year, in addition to the general rule allowing NOLs to be carried forward indefinitely following the loss year. As a result, NOLs can be valuable tax tool for a loss-recognizing corporation.

Dig Webinars

DIG will be periodically announcing and hosting relevant and timely webinars on distressed investing. Be on the look out and get your calendars ready!

2021 Health Law Developments Webinar

Join Ice Miller on Thursday, July 15 from 12 -1:30 p.m. (EST) for a complimentary webinar as we provide updates related to the health care industry including:

United States Supreme Court’s Decision regarding the Affordable Care Act
Health Care Legislative Update and Post-COVID Predictions
Update on Final Provider Relief Fund Guidance
Evolving Telehealth Issues
Discussion of the United States Supreme Court case Cochise Consultancy and its implications on the False Claims Act Statute of Limitation
Expanded Anti-Kickback Enforcement Update

Did you receive this Distressed Opportunity Bulletin from a friend? Sign up for future updates.

Attorney advertising material. Prior results do not guarantee similar outcomes. This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader should consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.