Case Studies: Creditor Services

Banking

Peter Colmer was hired by the asset-based finance unit of a major bank to oversee the liquidation of their client company's assets, ideally with the cooperation of the incumbent management team. Key personnel were quickly identified and retained while also developing detailed cash flow budgets to effectively manage the process. Both objectives were accomplished in a six week period, with the bank receiving full repayment of its collateral-based loan.

Mark Smith was engaged directly by the special assets unit of a major bank to provide situational guidance on a problem loan. On site within days, Smith worked with the existing management team to quickly grasp the key issues and develop cash flow-based models to determine the company's going concern versus liquidation value. Given the confrontational nature of the situation, Smith worked with creditor's counsel to develop detailed contingency plans should the bank be handed back the property. Subsequent to the initial work, Smith and Jim Jennings conducted a complete inventory audit including physical counts and analysis of the activity conducted between perpetual reports.