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STAKEHOLDER NEGOTIATIONS

The Client

A privately-held real estate investment company, with real estate holdings throughout the United States totaling approximately $476 million, had filed for Chapter 11 bankruptcy.

The Problem

Aside from the complexity of the Chapter 11 bankruptcy filing, the Company had no Chief Financial Officer to lead the situation. Additionally, virtually all of the Company’s real estate holdings were in monetary default and there were numerous classes of secured and unsecured creditors.

All of the secured and unsecured creditors were represented by leading financial advisors.

Challenge Accepted

In need of a professional financial advisor, Challenger Advisors was called on to represent the Company. By the time our experts were up-to-speed with the situation, there was only four weeks until the deadline to file the Plan of Reorganization with the bankruptcy court.

As Acting CFO and Financial Advisor, we led the effort to negotiate a consensual plan with all the stakeholders and their respective financial advisors. In addition, we quickly began the process of filing the Plan of Reorganization.

The Results

The seasoned professionals at Challenger Advisors provided the financial advisory capabilities that enabled the client to:

  • File a Plan of Reorganization in a timely manner
  • Negotiate the Plan of Reorganization with all of the stakeholders and their financial advisors
  • Provide expert witness testimony in numerous depositions and court appearances

Our knowledge in Turnaround Management allowed for a quick, well-executed solution to a demanding and complex situation. The Plan of Reorganization was approved by the bankruptcy court in December 2011, and the Company was able to continue operations with respect to the Plan of Reorganization.

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