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In other words, Adjusted EBITDA is used to illustrate the true underlying profitability of the business. BP: In 2010, BP had to pay $20 billion for the 2010 Deepwater Horizon oil spill. If the company is not an FX boutique or exchange, FX gains and losses typically are not part of the company's EBITDA.
Distressed Debt Non-Control – Buy Debt to gain influence in the restructuring or bankruptcy process and earn a huge gain upon repayment – or get common shares in a debt-for-equity swap and sell the shares at a profit. Two relevant internships in 1L and 2L, such as at a restructuring boutique bank and a PE or credit-related one.
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