Deloitte's restructuring services team has launched a new, New York-based special situations effort to complement similar capabilities offered in other major financial hubs worldwide. Michael Epstein, a Deloitte risk and financial advisory restructuring services principal, Deloitte Transaction and Business Analytics LLP, will lead the New York effort to offer lead financial advisory services to capital providers, corporates and their stakeholders where complex, multijurisdictional businesses and their debt structures are under pressure and need repair.

"We've seen a shift away from regulated bank debt and toward significantly altered debt structures infused with nonregulated capital, which have an ever-increasing nexus to New York City," said Kirk Blair, Deloitte risk and financial advisory partner and US corporate restructuring group leader. "To help our clients navigate that funding shift and access major financial hubs around the world – including New York City, London, Hong Kong, Toronto, Beijing, Singapore and others – we're investing in our restructuring practice with the New York Special Situations launch."