Lifestyle Television Network
Introduced through Debtor's bankruptcy counsel, and engaged as Financial Advisor to maintain full compliance with the bankruptcy court. Once stabilized, the company was sold to a strategic investor.
Post Audit Freight Traffic Services
Introduced by counsel and engaged as Chief Restructuring Officer to stabilize and wind down operations. Exposures mitigated, obligations reduced or satisfied, and recoveries maximized.
Financial Services: Broker Dealer
Engaged as the Chief Restructuring Officer and then as the Trustee for the Liquidating Trust. Engagement ongoing.
Wood Burning Stove Dealer
Introduced to company through senior secured creditor to provide an immediate business viability assessment. Operations were restructured, assets were monetized and the bank was paid in full within 2 months.
Home Furnishings Importer and Manufacturer
Introduced to company through its bankruptcy counsel to provide an immediate business viability assessment given the economic environment, weakened sales and capital needs. We recommended a managed wind down for the business over a 2-3 month period, yielding a recovery well in excess of what was expected.
Introduced by counsel upon the resignation of the company's CEO and pending bankruptcy filing. We stabilized the operations, filed a petition for protection under Chapter 11 and sold the business as a going concern through a Section 363 sale. Bank debt was repaid in total; unsecured debtors were provided a recovery; 85 jobs were maintained; and a new owner with fresh capital took over the business.
Financial Services: Investment Fund Development
Introduced through board member for due diligence purposes. We crafted a strategic plan for new product development, responsible for new fund launches on the NYSE, private capital raises and operational compliance with FINRA, NASD and the SEC.
Security System Manufacturer and Distributor
Introduced through its bankruptcy counsel to provide a business viability assessment. We improved operations, identified and eliminated questionable banking practices, improved sales cycle, and negotiated standstill agreements with various lenders. The company was wound down, all personal guarantees were released and bankruptcy was avoided.
Brought in by principal. We reorganized the management team and lowered fixed and variable costs of production. Cut inventory levels and improved receivable collections, improving cash flow. Restructured bank debt and improved vendor terms. Prepared the company for sale for retiring owner. Company was sold, creditors paid in full, personal guarantees released, and the owner was provided an economic arrangement for retirement.
Introduced through board member. Regional bank with operations in Miami and Michigan. We developed and executed wind down strategic plan with FDIC, Federal Reserve and State Banking Commission. We arranged to sell loans to other financial institutions and unwound credit card merchant processing exposures with VISA and MasterCard. We wound down over $350 million in assets, leaving the FDIC with ample coverage for existing depositors and partial recoveries to vendors. We significantly reduced board of directors liability.
Industry Experience includes: