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Case Study

Fiduciary Services

Receiverships / Assignments for the Benefit of Creditors

Operated financially distressed businesses while leading efforts to identify potential buyers and conduct sales processes.

$70 million hardware distributor

Sold inventory and fixed assets to industry competitor at 100% of book value.
 

  • Collected 97% of $5 million accounts receivable.
     

  • Repaid secured lender 100% of $13 million loan within 75 days.
     

  • Distributed 44% on $26 million of unsecured creditor claims.

$50 million magnesium die-casting automotive supplier

  • Collaborated with all automotive customers to provide sufficient shipments while they found new suppliers.
     

  • Sold all fixed assets at auction for 12% higher than stalking horse bid.
     

  • Repaid secured lender 100% of $14 million loan.
     

  • Distributed 62% on $5 million of unsecured creditor claims.

$4 million bulk tank trailer manufacturer

  • Sold business as going concern to private financial buyer for value equal to 42% of revenue, exceeding the stalking horse bid by 8%.
     

  • Worked with secured lender and IRS to provide information related to borrowing base certificate fraud.

Start-up medical equipment manufacturer

  • Sold intellectual property (patents and patents pending) for $5 million to industry competitor.

  • No secured lender
     

  • Distributed 6% on $70 million of unsecured creditor claims.

$3 million international meat exporter and broker

  • Liquidated all assets and distributed to secured lender.

$5 million provider of educational services

  • Sold all tangible and intangible assets through auction to company founder.
     

  • Distributed all proceeds to secured lender.

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