Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreCentury Mining, operating as Allegheny Metallurgical, faced an unprecedented crisis when a roof fell and a subsequent mine fire forced an immediate shutdown of operations, completely eliminating revenue. The company was confronted with rapidly tightening liquidity, near-term payroll risk, and the need to preserve a skilled workforce and supplier base while engineering a safe, technically complex restart. These challenges were intensified by an ownership deadlock at the parent level that blocked additional equity funding and delayed capital and procurement decisions essential to recovery.
The company needed to secure new capital, arrange debt financing, negotiate a fire insurance claim settlement, repair the damaged mine, and bring the workforce back to restart operations. The Board of Managers and company counsel determined that Chapter 11 was the fastest and most expedient option to accomplish this. Our expert served as CRO, working with all stakeholders to ensure the project’s successful completion.
Century Mining filed Chapter 11 in November 2024 and exited through a confirmed Plan of Reorganization in March 2025, only four months later. Under CRO team leadership, the turnaround strategy focused on stabilizing governance, preserving liquidity, and positioning the business for a funded restart. The Chapter 11 process was used to restore decision-making authority, secure interim financing, implement a critical-vendor program to stabilize the supply chain, and structure a comprehensive recapitalization combining new equity, exit financing, and insurance recoveries. Workforce continuity was prioritized through targeted incentive programs tied to restart milestones, ensuring operational readiness and preserving community employment.
During the case, the CRO, counsel, and company management achieved significant results in an unusually compressed timeframe, including:
Through disciplined leadership, hands-on cash management, and tight coordination between stakeholders, the CRO team drove an accelerated, court-supervised restructuring process. This positioned the mine to reopen ahead of schedule, underscoring the effectiveness of the CRO team’s execution under extreme operational and financial pressure.
> Chief Restructuring Officer (CRO) & Interim Management Services
Our experienced C-suite interim executives advise and support companies in financial distress, experiencing hypergrowth, or that are challenged by critical vacancies among senior leadership. Whether the leadership void results from operating challenges, a recent officer resignation, the need for added support during busy periods, or during an extended job search for the right permanent hire, our experienced executives provide immediate relief and value.
> Turnaround and Restructuring Services
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.
