Case Studies
J.S. Held Acquires Clark Seif Clark, Strengthening West Coast Capabilities for Environmental Claims, Disputes, and Catastrophe Response
Read MoreOur experts wound down and liquidated the assets of an aluminum pole manufacturer exceeding expectations with the lender repaid in full. The Company was a $30 million Manufacturer of Aluminum Utility Poles based in New Jersey.
The Company had been suffering substantial losses for years as a result of increased competition, cyclical demand reductions, and increases in raw material costs. Lack of liquidity and concerns over unfunded pension liabilities forced the Company into a Chapter 11 liquidation. A lender had a credit facility secured by all assets of the Company, including valuable equipment that was located on an environmentally-challenged site in Newark, NJ. Even though the Company did not own the property, the NJ DEP would not release the equipment for sale until all environmental issues were resolved.
J.S. Held was engaged to wind-down the business and liquidate the assets. J.S. Held managed the receivables collections and recovered over 80%. J.S. Held then entered into complex negotiations between the landlord, NJ DEP, the lender, and the U.S. Bankruptcy Trustee to resolve the resolution of the environmental claims and the ultimate release of the equipment for sale. The lender was eventually repaid in full, which exceeded its expectations.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
> Out-of-Court Wind-downs
We deliver strategic guidance through the wind-down of business operations or underperforming assets, helping preserve value and reputation while avoiding the disruption, cost, and public scrutiny of formal bankruptcy. Our expert financial and operational advisors apply decades of experience providing exit solutions across a wide range of industries and complexities to deliver, and often execute, comprehensive solutions for distressed businesses.
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Navigating bankruptcy is inherently complex, often involving struggling businesses, litigation, incomplete or inaccurate financial records, potential fraud, and other challenges, in addition to strict court-mandated processes. Our experienced team of turnaround and restructuring experts seamlessly guides clients throughout the process to optimize outcomes for lenders, creditors, shareholders, and employees.