Michael P. Healy, a senior managing director at FTI Consulting, discussed the pre-petition to-do list for companies contemplating bankruptcy under the U.S. Bankruptcy Code. He emphasized the importance of careful planning, coordination among advisors, and strategic communication. Healy highlighted three case studies: a satellite company impacted by COVID-19, a convenience store operator facing an imminent default, and an international airline dealing with a pilot strike. Each case required different timeframes and strategies, underscoring the need for tailored approaches. Key considerations include liquidity management, first-day motions, and ensuring business continuity post-filing.
Michael P. Healy, CTP is a senior managing director at FTI Consulting, Inc. in New York and is a member of the firm’s Corporate Finance & Restructuring segment. He has experience in restructuring, reorganization and mergers and acquisitions, including advising companies, creditors, shareholders and other interested parties on restructuring transactions both in chapter 11 and in non-bankruptcy-driven resolutions. Mr. Healy has advised clients in diverse businesses, including commercial products, general industrial, financial services, health care, manufacturing and retail. He has led engagements where he has represented companies and creditors in formal and informal restructurings and advising clients, including companies and creditors, on structuring, negotiating and refinancing various forms of debt and equity. Mr. Healy has served as CRO, president, CEO or CFO to distressed companies, and has developed and implemented cost-reduction and cash-flow-improvement initiatives. In addition, he has valued and sold companies in and outside of chapter 11, as well as advised acquirers of such companies; identified, analyzed and recommended strategic and financial alternatives and opportunities; structured leveraged and management buyouts and recapitalizations; and prepared valuations and fairness opinions. Mr. Healy’s client experience includes All American Group (Coachman), CHC Group, Dayton Superior, Diagnostic Imaging Group, First Trade Union Bank, Foodarama Supermarkets, HMX Group, Integrated Electrical, Jobson Medical Information, Linens ’n Things, Malden Mills Industries, Pathfinder Bancorp, Penn Traffic, PRACS Institute, Precision Parts International, Reichhold Industries, Remedy Health Media, Signstrut Ltd., St. Louis Post-Dispatch, Transcentra Inc., USG, World Health Alternatives, W.R. Grace and Vertis Communications. He joined FTI Consulting with its acquisition of CDG Group, where he was a senior managing director. Prior to that, he was an associate at Northeast Capital & Advisory and held positions with American Express Risk Management and GE. He has contributed to various publications and lectures on cash-flow management and crisis management. Mr. Healy received his B.S. in finance from Rensselaer Polytechnic Institute and his M.B.A. from the Lally School of Management at Rensselaer Polytechnic Institute.
Read more
40+ expert-led courses on demand
CLE credit available
New courses added monthly