CIRA study materials
CIRA study resources

CIRA case studies

CIRA · Put your knowledge to work in context.

The Certified Insolvency & Restructuring Advisor (CIRA) is a professional credential administered by the Association of Insolvency & Restructuring Advisors (AIRA), a nonprofit professional association. According to AIRA, the CIRA program is designed to help professionals "build deeper expertise in bankruptcy, insolvency, and restructuring." AIRA describes its membership and audience as financial advisors, valuation professionals, accountants, crisis managers, business turnaround consultants, lenders, investment bankers, attorneys, trustees, and others working throughout the restructuring profession - the same population for whom the CIRA credential is most relevant. Candidates typically pursue the CIRA to signal specialized technical judgment in distressed situations, and AIRA positions its education offerings as a path from foundational knowledge to demonstrated expertise, noting that its education is "built around the financial, legal, valuation, and operational realities professionals face as their responsibilities grow." Preparation runs through AIRA's CIRA courses, which appear in the published course schedule (for example, sessions listed in New York and online), together with the CIRA Program Overview and CIRA Courses & Examinations pages. Because exam logistics such as question count, duration, passing score, fees, retake rules, and validity period are not published in the retrieved source, candidates should confirm those details directly with AIRA before registering. The CIRA case studies are 5 cases and about 3,212 words.

1

The 90-Day Preference and the Friendly Lender

Northline Fabrication Inc. was assigned into bankruptcy on March 14.

698 words, about 3 min
2

The 13-Week Cash Flow That Didn't Add Up

Summit Sports Inc., a 22-store regional retailer, obtained an initial order under the CCAA. It has 1.1 million of cash, a 6.2 million DIP commitment, and a 13-week cash-flow forecast showing a minimum cash balance of 350,000 in week 9.

639 words, about 3 min
3

Valuing a Distressed Food Processor: Going Concern vs. Orderly Liquidation

Harvest Table Foods Ltd. is insolvent and in receivership.

582 words, about 3 min
4

The Lien Claim That Arrived After the Distribution

Cedar Ridge Construction Ltd. The trustee has realized 2.4 million from holdback funds and accounts receivable.

683 words, about 3 min
5

The Proposal Built on a Hockey-Stick Forecast

Maple Ridge Millworks Ltd. filed a Division I proposal.

610 words, about 3 min