Thompson Coburn partner Mark Power was recently featured in the September 2026 issue of TMA NYC’s semi-annual newsletter, The Turnaround Report, where leading restructuring professionals shared their perspectives on current market conditions and the outlook for distressed companies in the months ahead.
Discussing the trends that have defined the restructuring landscape so far this year, Mark said:
“What has surprised me most in the first half of 2026 is how resilient the broader economy has been even as restructuring activity remains elevated, with many stressed companies continuing to rely on increasingly sophisticated out-of-court liability management transactions rather than traditional Chapter 11 filings,” said Mark. “At the same time, creditors have become more aggressive in challenging those transactions, creating a more contentious and litigation-driven restructuring landscape.”
Looking ahead, Mark highlighted the challenges facing companies that have delayed broader restructuring efforts through liability management strategies and now face mounting financial pressures.
“Looking at the second half of the year, I see the greatest stress building among heavily leveraged issuers that used liability management exercises to buy time, but still face looming maturity walls, higher-for-longer financing costs, and limited refinancing options. I expect more situations where creditors are pushing for comprehensive deleveraging transactions or taking ownership rather than extending runway again.”
Read the full September 2026 issue of The Turnaround Report here.
