Winner of the RESTRUCTURING OF THE YEAR ($100MM TO $250MM)
LOS ANGELES, March 31, 2025 B.
Riley Advisory Services, a specialty financial advisory services firm
and subsidiary of B.
Riley Financial, Inc. (NASDAQ: RILY), is pleased to announce it
was honored by The M&A Advisor at the 19th Annual Turnaround Awards Gala
during the 2025 Distressed Investing Summit on March 24-25, 2025 in West Palm
Beach, FL.
B. Riley Advisory Services was named as a winner in
the Restructuring of the Year ($100mm to $250mm) category in
connection with the Restructuring of iCap Enterprises and Creation of the iCap
Trust. B. Riley Advisory Services acted Financial Advisor to the Unsecured
Creditors Committee in the iCap Enterprises, Inc. Ponzi Scheme Chapter 11
(Bankr. E.D. Wash.)
The B. Riley Advisory Services team was led by Seth R. Freeman, Mike Issa and Becky Yang
O'Malley. Freeman was also appointed as co-trustee of the iCap Trust. Other
firms included in the winning engagement included Pivot Group, O'Melveny &
Myers LLP, Bush Kornfeld LLP, K&L Gates and Buchalter.
"It was gratifying for the victims and professional
team that Judge Holt made a Ponzi finding from the bench based upon the
compelling evidence presented at the confirmation hearing", said Freeman.
"This case was a unique close collaboration between the Debtor and
Committee to quickly achieve a confirmed Plan and to pursue recoveries for
the victims through the litigation trust" he added.
The annual Turnaround Awards Gala is a feature of the 2025
Distressed Investing Summit. The Summit hosted over 200 of the industry's
leading professionals, including panels led by a faculty of restructuring
industry stalwarts. For more information visit, www.maadvisor.com.
About B. Riley Advisory Services
B. Riley Advisory Services is a leading provider of
specialty business advisory services that works with law firms, lenders,
private equity sponsors, and companies of all types on business challenges such
as planning and executing a major acquisition or divestiture, pursuing a fraud
investigation or corporate litigation, or managing through a business crisis or
bankruptcy. The firm offers a unique mix of appraisal services including
asset-based lending (ABL) valuations, restructuring and turnaround management,
forensic accounting and litigation support, and transaction support services
including due diligence and quality of earnings reviews. For more information,
visit www.brileyadvisoryservices.com.
About B. Riley Financial
B. Riley Financial (Nasdaq: RILY) is a diversified financial
services platform that delivers tailored solutions to meet the strategic,
operational, and capital needs of its clients and partners. B. Riley leverages
cross-platform expertise to provide clients with full service, collaborative
solutions at every stage of the business life cycle. Through its affiliated
subsidiaries, B. Riley provides end-to-end financial services across investment
banking, institutional brokerage, private wealth and investment management,
financial consulting, corporate restructuring, operations management, risk and
compliance, due diligence, forensic accounting, litigation support, appraisal
and valuation, auction, and liquidation services. B. Riley
opportunistically invests to benefit its shareholders, and certain affiliates
originate and underwrite senior secured loans for asset-rich companies.
B. Riley refers to B. Riley Financial, Inc. and/or one or
more of its subsidiaries or affiliates. For more information, please
visit www.brileyfin.com and
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