Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreA Major Metropolitan City in Michigan and the county seat of the state’s most populous county.
A Michigan metropolitan city filed the largest municipal bankruptcy in history. In order to confirm the Plan of Adjustment, the Judge needed to make a finding that the plan was feasible. An accepted feasibility standard had not been developed, and the Judge sought an expert to assist in developing the standard and determining whether the City’s plan was feasible.
Our experts were engaged by the U.S. Bankruptcy Court to provide expert opinion and supporting analysis regarding the feasibility of the Plan of Adjustment being proffered by the City. A team of six of our professionals worked with virtually all of the City’s constituencies in order to understand the plan and provide expert guidance to the Court in its efforts to resolve the bankruptcy. Because no uniform standard previously existed, our team developed a standard for establishing Feasibility in the context of Chapter 9; this standard has been adopted by the Court.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
> Bankruptcy Advisory
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.
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Navigating the many challenges confronting a company in transition requires an operationally focused approach that looks beyond the balance sheet to minimize further degradation and build a path to sustainable growth. Drawing upon decades of experience in the turnaround space, we help companies in transition identify practical strategies to improve profitability and liquidity for immediate relief, while concurrently developing and executing a comprehensive turnaround plan for long-term, sustainable value creation.