Igor Zax CFA, founder of Tenzor Ltd, gave a new guest lecture Operational Turnaround –Focus on Working Capital and Supply Chain as part of a course “Mergers, MBOs and Other Corporate Reorganisations” by professor Paolo Volpin at London Business School 23 March 2012.

The lecture covers principles of distressed investments, corporate turnaround and operational due diligence. It also focuses on supply chain and working capital implications, use of asset backed lending, vertical integration and business model re-design.

Slides for the presentation can be seen by clicking the link below:
Operational Turnaround –Focus on Working Capital and Supply Chain

Igor Zax, founder of Tenzor Ltd, delivered a masterclass on “Special Situations and Distress-Driven M&A:What Does it Take to Conduct a Successful Accelerated M&A Process”  28 September 2011 in Moscow, as part of C5 conference on M&A in Russia and CIS.

The masterclass was attended by senior M&A professionals of major Russian and CIS banks and industrial groups.

For link to English version of the presentation please click the title above.

Igor Zax, founder of Tenzor Ltd, gave a guest lecture Operational Due Diligence -Key to M&A Success as part of a course “Mergers, MBOs and Other Corporate Reorganisations” by professor Paolo Volpin at London Business School 11 June 2011.

Slides for the presentation can be seen by clicking the link below:
Operational Due Diligence -Key to M&A Success

Igor Zax, founder of Tenzor Ltd, is leading a masterclass on “Special Situations and Distressed Driven M&A ” at C5 conference “M&A in Russia and CIS” 28 September 2011 in Moscow.

This interactive working session will identify core issues that an
investor in a distressed company has to deal with at every stage:
pre-transaction, during deal structuring and post deal. Attendees
will receive ‘nuts & bolts’ guidance on strategic and operational aspects of distressed M&A deals, an analysis of the different objectives and approaches of participants (banks, private equity houses, corporate buyers and sellers, hedge
funds, etc.). The workshop is specifically designed to help you navigate the maze of operational due diligence, turnaround and exit strategies for distressed investments.
• Types of and reasons for distressed investment
• Practical techniques of operational due diligence
for distressed investments and their importance
• Pricing and evaluating distressed companies and their assets
• Capitalising on discounted price offerings
• Practical considerations in distressed M&A deal structuring

Igor Zax, managing director of Tenzor Ltd, published a new article, Corporate Credit Policy-A Strategic View in GT News (major treasury publication by AFP).

The article discussed the nature of trade receivables risks, its difference from other type of credit risk, its relationship to corporate strategy and approaches to design of optimal credit policy.

Reprinted with permission.

Igor Zax, Managing Director of Tenzor ltd., . and Warwick Ley, partner of Endless LLP presented at a panel on Corporate turnaround and stakeholder management strategies at European Investment in Distressed Debt Forum in London 27-th October 2010
 While actual presentation was in a form of live discussion without slides (that was a preference of both panellists), Igor Zax also prepared slide presentation that is available here: Corporate Turnaround –thinking beyond capital structures

Trade Credit Insurance- Best Practice and Lessons from the Crisis This new article by Igor Zax  covers reasons for use of credit insurance, it’s role in transferring risk, outsourcing credit process and building financing solutions, advantages and pitfalls of using credit insurance, and the effects of the financial crisis for corporate use of credit insurance.

Published in GT News – publication of AFP (Association of Financial Professionals). Reprinted with permission.

Igor Zax, founder and MD of Tenzor Ltd., will be speaking at a major conference, 
European Investment in Distressed Debt Forum, 26 – 27 October, 2010 at Le Meridian Piccadilly, London, organised by IQPC. The presentation would be part of the panel “Corporate Turnaround And Stakeholder Management Strategies” that would also include Michael Langdon from Rutland Partners and Warwick Ley from Endless LLP.

“Igor Zax is a regular speaker in my course on Mergers and Other Corporate Reorganisations at the London Business School. Through years of experience on corporate restructuring, Igor has developed a deep understanding of how to turn around businesses. Igor’s approach is truly holistic combining multidisciplinary insights from economics, finance, strategy and operation management. With these skills and experience, Igor is a valuable asset in dealing with any turn-around situations as the complexity of these situations benefits from a multidisciplinary approach: financial restructuring needs always to be combined with creative and sound operational decisions. Paolo Volpin (Associate Professor of Finance, London Business School.”

posted with kind permission from professor Paolo Volpin

Igor Zax, founder of Tenzor Ltd, was presenting again at LBS (London Business School) with a guest lecture Distressed M&A –Supply Chains and Working Capital Solutions? , as part of a course “Mergers, MBOs and Other Corporate Reorganisations” 22 April 2010.

The lecture addresses strategies distressed mergers and acquisitions, core principles for turnarounds, effect of supply chains, role of ABL (asset backed lending), working capital management, distribution structures and vertical integration.