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It cannot be emphasized enough that restoring credibility to the creditors, the lenders and the general public is one of, if not the most important element to achieving a successful turnaround. Even before overall debt restructuring is undertaken, vendors, lenders and taxation authorities will most likely grant forbearance if they buy into what the debtor tells them. To establish such trust it is most always necessary to bring in professional management who are experienced in restructuring operations and who are, in most cases, an objective third party. In order to have any effective restructuring plan, you must have a meeting of the minds with the majority of creditors to make it work. Without that step, you are doomed to failure. Holding off disappointed and irate creditors and getting them to restructure the debt is only part of the solution. The core problems which got the company into trouble must still be cured. Usually, several ills are present simultaneously. Some of these problems mask others, and existing management is often aware of only some of the issues. Moreover, the majority of turnarounds and restructurings require an injection of cash; the rules that govern obtaining debt and equity investments are usually different for healthy companies as opposed to distressed enterprises.
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CULVER CITY, CA (July 17, 2017) – Keslow Camera, the largest privately held motion picture camera equipment rental house in North America, announced acquired Clairmont Camera and its Vancouver and Toronto operations. The move more than quadruple Keslow Camera’s anamorphic and vintage lens inventory, and add a substantial range of custom camera equipment to the company’s extensive portfolio. Simultaneously, Clairmont founder Denny Clairmont, one of the industry’s most respected talents in front and behind the camera, announced his retirement. The acquisition was complete on August 4. and was one of Hollywood largest motion picture related transaction of the year.