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Here's Why Evermore Global Advisors Remains Optimistic in Emergent Capital (EMGCQ)


Here’s Why Evermore Global Advisors Remains Optimistic in Emergent Capital (EMGCQ)
Evermore Global Advisors, an investment management firm, published its “Evermore Global Value Fund” fourth quarter 2020 investor letter – a copy of which can be downloaded here.  A return of 13.85% was recorded by the Institutional Class shares of the Evermore Global Value Fund (“EVGIX”) for the year end of 2020, outperforming its S&P 500 benchmark that delivered a 12.2% return, but slightly below its MSCI Europe index that delivered a 15.6% gain in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021. ....

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Emergent Capital, Inc. Announces Completion of Restructuring


Emergent Capital, Inc. Announces Completion of Restructuring
BOCA RATON, FL / ACCESSWIRE
/ April 8, 2021 / Emergent Capital, Inc. (OTCQX:EMGC) ( Emergent or the Company ) announced that on April 7, 2021 it has consummated its previously announced restructuring. Accordingly, Emergent moved its operations to its former subsidiary, Lamington Road DAC, a designated activity company with limited liability incorporated under the laws of Ireland ( Lamington ) and formed the Lamington Road Grantor Trust, a grantor trust organized under the laws of the Cayman Islands (the Trust ), to hold certain securities of Lamington called profit participating notes. The restructuring was done in accordance with the Emergent s Plan of Reorganization, as confirmed by the United States Bankruptcy Court for the District of Delaware (the Bankruptcy Court ) on December 30, 2020. ....

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The year in bankruptcy: 2020


Introduction
One year ago, we wrote that the large business bankruptcy landscape in 2019 was generally shaped by economic, market, and leverage factors, with notable exceptions for disastrous wildfires, liabilities arising from the opioid crisis, price-fixing fallout, and corporate restructuring shenanigans.
The year 2020 was a different story altogether. The headline was COVID-19.
The pandemic may not have been responsible for every reversal of corporate fortune in 2020, but it weighed heavily on the scale, particularly for companies in the energy, retail, restaurant, entertainment, health care, travel, and hospitality industries. Mandatory shutdowns beginning in the spring of 2020 wreaked havoc on the bottom lines of thousands of companies confronting a precipitous drop in demand for their products and services. Some were able to weather the worst of the storm with packages of government assistance or by adapting their business models to meet the unique challenges of ....

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