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Igor Zaks

Tenzor card: Global Trade Receivables Finance Penetration Study, 2006 vs. 2024, published by BCR Publishing

Global Trade Receivables Finance. Penetration Study: 2006 vs. 2024 – published by BCR Publishing

BCR Publishing has published Igor Zaks‘s research report Global Trade Receivables Finance. Penetration Study: 2006 vs. 2024. The study provides the first like-for-like comparison of receivables financing penetration before and after the Global Financial Crisis, using primary-source official data across the US, EU and UK. It gives practitioners, credit insurers, technology providers and legal advisors the empirical foundation they need… Read More »Global Trade Receivables Finance. Penetration Study: 2006 vs. 2024 – published by BCR Publishing

Tenzor card: Rebuilding Trust in Alternative Finance, AWCF 26 panel moderated by Igor Zaks, London, 30 November 2026

Igor Zaks to Moderate AWCF 26 Panel on Rebuilding Trust in Alternative Finance

Igor Zaks to Moderate AWCF 26 Panel on Rebuilding Trust in Alternative Finance Tenzor Ltd. President Igor Zaks will be speaking at AWCF 26 – the 12th Annual Alternative & Working Capital Finance event, taking place on 30 November 2026 at Clifford Chance in London. Igor will moderate Panel 2: “Lessons from the Major Credit Failures: Rebuilding Trust in Alternative… Read More »Igor Zaks to Moderate AWCF 26 Panel on Rebuilding Trust in Alternative Finance

Tenzor card: The Verification Gap After First Brands - receivables finance insight

Receivables Finance: The Verification Gap After First Brands

By Igor Zaks, CFA – President, Tenzor Ltd. In the 2022 World Supply Chain Finance Report, I wrote that the Greensill collapse had “served as a litmus test for policies and controls needed to operate supply chain finance and receivables businesses.” I argued that the industry needed to look behind the product’s name – SCF, credit insurance or securitization –… Read More »Receivables Finance: The Verification Gap After First Brands

Tenzor card: When Due Diligence Is Not Enough - article in the World Factoring Yearbook 2026

When due diligence is not enough — Tenzor’s article in the World Factoring Yearbook 2026

Tenzor’s specialist contribution to the World Factoring Yearbook 2026, published by BCR Publishing, is now available. When due diligence is not enough: Lessons from Greensill, First Brands, and HPS/Carriox is a comparative diagnostic across three of the largest receivables-finance failures of the past five years. The cases are structurally different — a fintech securitising supply chain finance, a leveraged manufacturer… Read More »When due diligence is not enough — Tenzor’s article in the World Factoring Yearbook 2026

Tenzor card: When Courts Rewrite Factoring - what the First Brands litigation reveals about industry practice

When Courts Rewrite Factoring

What the First Brands Litigation Reveals About Industry Practice, Accounting Standards, and Investor Risk Igor Zaks, CFA  |  President, Tenzor Ltd.  The collapse of First Brands Group and the investor litigation that has followed is doing something beyond resolving individual disputes. It is generating a body of legal interpretation that may reshape how factoring and receivables finance structures are understood… Read More »When Courts Rewrite Factoring

Tenzor card: Operational Restructuring and Turnaround - why supply chains matter more than most lenders think

Operational Restructuring and Turnaround: Why Supply Chains Matter More Than Most Lenders Think

Igor Zaks, CFA, President of Tenzor Ltd. recently updated a presentation on operational restructuring and turnaround that brings together several themes I have worked on over the years: working-capital diagnostics, supply-chain dependencies, business model redesign, and the growing role of asset-based and structured financing in distressed situations. The core argument is simple: in many restructurings, liquidity is necessary, but understanding… Read More »Operational Restructuring and Turnaround: Why Supply Chains Matter More Than Most Lenders Think

Tenzor card: The Turnaround Take webcast with Igor Zaks

The Turnaround Take Webcast with Igor Zaks

Igor Zaks sat with Joseph Sarachek for a webcast “The Turnaround Take”. We discussed some recent cases like  Carriox / HPS and First Brands, the role and approaches to due diligence and structuring, and opportunities in the space for distressed investors. We also had a detailed discussion about the Software industry, the impact of AI, and the resulting valuation and… Read More »The Turnaround Take Webcast with Igor Zaks

Igor Zaks Quoted in Wall Street Journal on Invoice Fraud

We are pleased to share that Igor Zaks, CFA, President of Tenzor Ltd., was recently quoted by The Wall Street Journal in its in-depth investigation into one of the most striking private credit fraud cases in recent memory: “How Fake Invoices Duped BlackRock Unit Into a $400 Million Loan.” The article details how HPS Investment Partners, acquired by BlackRock in… Read More »Igor Zaks Quoted in Wall Street Journal on Invoice Fraud

The Year of the Cockroach: Financial Scandals and Industry Impacts

Igor Zaks , CFA, President of Tenzor Ltd, was quoted by 9fin, a debt market intelligence publication. The article “The Year of the Cockroach” examines recent financial scandals, such as First Brands, Tricolor, Stenn and others and their implications for the industry. Specific quotes from Igor: “In my view invoice financing is very good market, with attractive yields if it’s… Read More »The Year of the Cockroach: Financial Scandals and Industry Impacts