The Parent Company
- CEO and sole Director of this Delaware case (filed under eTOYS DIRECT 1, LLC)
- Post 363 sale, shepherded the case to a liquidating plan.
- Oversaw the efforts of contract CFO and Controller.
- Liquidating Plan was Confirmed and went effective shortly thereafter.
Loews Cineplex Entertainment Corporation
- Designed process and then managed teams of outside counsel and company staff to process over 10,000 bankruptcy claims in this Southern New York case and distribute $45MM to general unsecured creditors. There were 2 classes of general unsecured creditors, many payments of prepetition obligations and Plan interaction with Canadian insolvency proceedings.
- Closed over 230 cases and cut trustee fees from $500K per quarter to the statutory maximum for just 2 entities in one year.
- Approximately $8MM in priority tax claims were resolved with only $600K in debtor cash.
Sturgis Iron & Metal
- Liquidated $250MM scrap metal company via a 363 sale without stalking horse.
- Secured lender’s $70+MM credit paid in full including prepetition forbearance fee and default interest. Sufficient assets remained to fund a wind down plan that was Confirmed.
- Completed schedules and statement and prepared the monthly operating reports.
- Served as de facto CFO.
Real Estate Investor
- Advised investor who wished to buy a manufacturing company in bankruptcy to bull doze the factory and build condominiums.
- Two plans of reorganization were developed using debtor professionals thereby minimizing investor expense.
Private Equity Backed Staffing Company
- Advised CEO whose investors were pushing for the purchase of a competitor in bankruptcy.
- Identified fulcrum creditor group as State tax authorities and advised company to not incur the expense of an attempted transaction.
- Presented alternatives approaches that capitalize on the competitor’s bankruptcy to expand into their territory.
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