PRE-ASSESSMENT
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We offer an initial
meeting, at no charge, to a prospective client. We explain why we need to
review and understand the specifics and the uniqueness of the organization and
the particulars of the situation that got them there in the first place.
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Then we review the
significant components of a company. How much is owed to whom and amount in
arrears? What is the financial composition of the company? Secured versus
unsecured debt? Debt versus equity? Recent financial/operational performance
factors that precipitated meeting in first place? Goals of owners? Support of
creditors? |
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Finally we’ll “craft” an
approach that provides a reasoned and independent evaluation of the options
appropriate to insolvency resolution. |
ASSESSMENT
| We
initiate a second meeting to present this written assessment of options under
consideration, offer recommended approaches, disclose cost of services,
usually fixed-fee, all-inclusive, and the estimated duration of the
transitional process. |
POST-ASSESSMENT
| If we
feel there is a chance for survival (including the formation of a new entity)
we’ll suggest a new foundation upon which the client can re-build. |
| If we
believe that an ABC, Receivership, or Intermediation best serves the
principals, the creditors, and the process itself, we will recommend such and
serve as the Assignee or the Receiver. |
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Should circumstances warrant a chapter 7 or chapter 11 filing, we’ll recommend
that course of action and refer the client, if so desired, to a bankruptcy
attorney of proven integrity and competence. |
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