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Podcast: The Winning Momentum Podcast with Scott Sinclair
Episode: The Role of Chief Restructuring Officers (CROs) and Turnaround Professionals
Description: The term Chief Restructuring Officer (“CRO”) is frequently used in the bankruptcy, insolvency and turnaround management community. Often, however, the numerous stakeholders on a restructuring, such as the company’s management, board of directors, lenders and legal counsel(s), lack a common understanding of the CRO’s intended function. For lawyers, CROs are thought of as appointed senior executives that are given the power to restructure all aspects of a company’s finances and operations in order to deal with a court driven bankruptcy or insolvency,In the turnaround world, we think of CROs more broadly, to...