Case Study
President & CFO
Aerospace Manufacturer

A manufacturing company in the aerospace ground equipment market with $10- $15 million in revenue filed for Chapter 11 reorganization.

The company operated a niche business manufacturing precision weight & balance equipment for the aerospace industry.
The company was very profitable, generating 25% to 30% EBITDA annually.
Due to litigation resulting in a judgment against the company, management decided to reorganize through Chapter 11.

An executive was brought in post-filing to serve as President & CFO and executed the following initiatives.

Rebuilt accounting processes to provide consistency, accuracy, and integrity in financial reporting.
Developed rolling cash flow forecasts by week.
Managed all reporting to the court.
Worked with bankruptcy counsel to develop the Plan of Reorganization.
Provided expert testimony supporting the company’s financial capabilities and feasibility of the Plan.
Led discussions with creditors to seek approval of the Plan.
Worked with counsel to settle with and gain support of the Plan from the largest creditor, which held a judgment against the company.
Provided all documentation and certifications to satisfy court requests and successfully exit bankruptcy.

Results

The Plan of Reorganization achieved a 100% payout to both secured and unsecured creditors.
The Company survived bankruptcy and grew to be an industry leader and major supplier to the aerospace and airline industries as well as the U.S. military.