Case Studies

Liquidating Trustee for Chapter 11 Bankruptcy of Broadcast Television Stations

J.S. Held Acquires Clark Seif Clark, Strengthening West Coast Capabilities for Environmental Claims, Disputes, and Catastrophe Response

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Home·Liquidating Trustee for Chapter 11 Bankruptcy of Broadcast Television Stations

The Situation

Served as the Liquidating Trustee for the Chapter 11 bankruptcy of Pappas Liquidating Trust (District of Delaware; Case No. 08-10949-PJW), consisting of multiple broadcast television stations, including ABC, FOX, and CW networks.

How We Advised

Our objective was to achieve a recovery for creditors. We provided financial analyses, cash flow management, and liquidation analyses.  Our experts managed and operated stations as a going concern, negotiated agreements with cable companies, reviewed and negotiated syndicated program purchases, and sold various broadcast properties. We also led the wind-down of the businesses.

Key Contact

David Stapleton, CPA, CLPF 
Senior Managing Director 
Strategic Advisory Practice 
+1 213 235 0601 
[email protected] 

Related Practice Areas

> Fiduciary Services 
We deliver unbiased, expert solutions in court-mandated and out-of-court situations that demand a third-party fiduciary, including insolvency, fraud, litigation, and shareholder disputes. When companies are in financial distress, become entrenched in complex disputes, or fraud is suspected, lenders, attorneys, and regulatory agencies recommend that federal and state courts or boards of directors appoint our experts as fiduciaries. 

 

> Solutions for Distressed Situations 
We deliver integrated solutions for distressed and insolvent businesses that maximize recovery, mitigate risk, and restore enterprise value. Our experts are retained to help distressed organizations stabilize operations, protect stakeholder interests, and execute turnaround strategies. We take an operationally-focused approach that looks beyond the balance sheet to minimize further degradation and build a path to sustainable growth. 

Our Experts