By Louis E. Robichaux IV & Patrick D. Pilch, Senior Managing Directors, Ankura
“Where was the board during this?” is not a question any nonprofit board member wants to hear, but it is one that is often asked. Thus, what are board members’ responsibilities during a distressed nonprofit healthcare organization’s search for a financial solution?
Partner, Blake Cassels & Graydon LLP | TMA Member: 19 Years
Q: How did you gravitate into turnaround/ restructuring work?
Rogers: When we graduate from law school in Canada, we do a form of legal apprenticeship known as articling. When you article at a large firm like Blakes, you do rotations in different practice areas. My former colleague and good friend Steve Weisz—who is a former TMA Toronto chapter president—encouraged me to give the restructuring group a try...