Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreThe Company was a privately held original Equipment Manufacturer with absentee ownership resident in Arizona. Counsel to the only surviving shareholder required an interim CEO to take over the company's operations until a sale could be completed. Our team served in this capacity.
The previous CEO, the nephew of the shareholder, due to a variety of differences with the shareholder, began to operate the business in an unsatisfactory manner that was not in the best interests of the Company or the Shareholder. The shareholder realized this and separated him from the company. Sales and margins were deteriorating, and the physical facility was in total disarray and unmaintained.
Our experts assumed the role of Chief Executive Officer and stabilized both operations and personnel. We located a stalking horse bidder from the Netherlands, and the company was sold under the provisions of the bankruptcy court's 363 sale process and procedures. Equipment was sold at auction. The bidder purchased the receivables and inventory, and a small revolver with the Bank was paid off.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
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