Encore Oxy is a Hell of a Drug
November 7, 2022
Hosted by Ted Gavin
With the stroke of a pen, a U.S. District Court Judge overturned the confirmed bankruptcy plan of Purdue Pharma, placing everything up in the air. What's at stake: $4.3 billion from Purdue's owners, the Sackler family, in exchange for the release of all claims against them from anyone, anywhere, for all time. Without those payments, no creditors other than the United States Government are likely to get anything at all - no opioid remediation and prevention programs; no payments to victims of the opioid epidemic; no states for having borne the costs of addiction; nothing. Plus, now bankruptcy courts don't have the authority they thought they had, so maybe we've broken the bankruptcy system. And what does this all have to do with Anna Nicole Smith??? We'll discuss this and more with one of the nation's foremost experts on bankruptcy.
Monday at 1 PM Pacific Time on VoiceAmerica Business Channel
Anyone can pay attention to financial ratios and textbook principles, but the best way to make use of this data is by giving them context. What are the stories others have created with their business challenges? From starting a new business from scratch to reinventing oneself for their second third act, this show explores how these personal stories translate into the business context. Everybody loves a good fraud story. Everybody loves a good war story. We can delight in the lessons provided by others’ experiences, both good and bad, funny and tragic, and even dumb. They all plant the seeds for good, compelling, interesting stories. Join us as we ask “What were they thinking?” and dive into the minds of business leaders who are out there, doing it every day. We’ll explore businesses as diverse as space to podcasting, sovereign citizens to Ponzi schemes. Our goal will be to make sure you enjoy it every step of the way, as we challenge the things you thought you always knew.
Ted Gavin is a turnaround specialist and understands corporate distress from all sides. He’s never been a big fan of business books and business shows. What he loves are war stories, and there are lessons to be learned from others’ interesting experiences and observations.
Ted is Founding Partner and Managing Director of Gavin/Solmonese LLC, a national boutique corporate turnaround, restructuring and litigation advisory firm. He was the 2018-2019 President of the American Bankruptcy Institute and is presently the ABI board’s Chair. Ted holds a Master of Dispute Resolution degree and a Master of Legal Studies degree from Pepperdine University School of Law, is a frequent expert witness in bankruptcy litigation and a practicing mediator. Ted has also developed expertise in lawyers’ professional ethics, helped amend a Federal Rule of Bankruptcy Procedure, and formed some task forces, one of which, the ABI Veterans and Servicemembers’ Affairs Task Force, was instrumental in getting the HAVEN Act passed, helping disabled veterans who need a fresh start relief of chapter 7 bankruptcy.
Ted lives in Chilmark, Massachusetts on Martha’s Vineyard. He works wherever his firm’s clients need him to be. He’s a husband, father of two adult daughters, person to four rescue cats, and an okay rhythm guitarist and bassist.
Ted’s moonlighting job is being the rhythm guitarist for The Indubitable Equivalents, the house band of the American Bankruptcy Institute.