Financial Restructuring

A LEADING RESOURCE IN BOTH OUT-OF-COURT AND COURT RESTRUCTURING

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Many Out-Of-Court restructurings include raising additional capital and arranging workouts with lenders and creditors, selling non-core assets, and a variety of other options. The goal of restructuring is to develop a capital structure for the business that is supported by its operating ability and asset mix. We also ensure that the financial structure supports the future goals of management and other stakeholders.

Our Approach

We approach every restructuring opportunity by applying our practical experience and conducting a sophisticated financial analysis. We also recommend and execute specific procedures that will reduce risks for creditors and support the success of restructuring plans. Additionally, our numerous debtor clients are always well served by our cooperative approach with lenders. Typical steps employed while advising borrowers and lenders in Out-Of-Court restructuring assignments include:

  • Analyzing the borrower's business plan

  • Reviewing historical financial and operational information

  • Analyzing the borrower's cash flow projections

  • Developing required financial reporting tools

  • Monitoring results daily, weekly and monthly

  • Comparing results to prior performance

  • Comparing results to projections

  • Investigating and assessing the value of critical collateral and other assets

  • Preparing detailed financial analysis reports

  • Preparing proposed restructuring plans

  • Negotiating and executing restructured agreements with lenders

  • Raising additional capital as required

  • Selling non-core assets

We apply the same detailed and sophisticated financial analysis in our restructuring assignments that we perform on our expert opinions and court reports. Our goals are to restore management's credibility, develop attainable targets and deliver measurable results to all parties.

LEADER IN ADVISING VARIOUS PARTIES DURING THE BANKRUPTCY PROCESS 

Over the years, we have compiled an impressive track record of debtor and creditor advisory assignments-working for both individual creditors and creditor committees in formal Bankruptcy Proceedings.

Representing Debtors

We take on a wide variety of roles, including:

  • Pre-petition business assessment
  • Recovery planning and development
  • Budgeting and cash flow forecasts
  • Developing 13 week cash flow models
  • DIP financing and/or exit financing, including negotiations with lenders
  • Operating metric reports and tracking systems
  • Developing plans of reorganization (POR), including negotiations with lenders, creditors and other parties-in-interest
  • Financial performance monitoring
  • Liquidation of non-core business assets
  • Sale of part, or all, of a company as a going concern in a Section 363 sale
  • Ongoing consulting services
  • Assuming interim management level responsibilities, including Chief Restructuring Officer, Chief Executive Officer, Chief Operating Officer, Chief Financial Officer and Treasurer

Representing Creditors

We take on numerous tasks, including assessing:

  • Debtor's operations and ongoing viability
  • Feasibility of a plan of reorganization (POR) and alignment with the best interests of the creditors
  • Advisability of a Section 363 or Article 9 sale as part of an M&A strategy
  • Valuation of debtor's assets
  • Liquidation scenarios
  • Recovery enhancement through investigation of potential preference actions, equitable subordination actions, fraudulent conveyances and/or management malfeasance
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INVESTIGATIVE AND FORENSIC ACCOUNTING SERVICES

Based on our strength as forensic accountants, we also provide investigative and forensic accounting services in Bankruptcy Proceedings - and our professional opinions stand up to the scrutiny of the court. As part of the bankruptcy process we are often called on to assist in litigation-related roles, such as:

  • Preference analysis
  • Solvency opinions
  • Business valuations
  • Litigation support
  • Expert witness services
  • Our approach in bankruptcy matters is based on sophisticated financial analysis, practical experience and maintaining a clear focus on the goal.