Études de cas
J.S. Held rachète Shechter & Everett pour développer sa comptabilité judiciaire dans le domaine du droit de la famille en Floride
En savoir plusKS Mattson Partners, LP (KSMP, "Debtor") and LeFever Mattson ("Companies") created a convoluted multimillion-dollar web of more than 57 LLCs and LLPs, which collectively purchased and managed over 200 multifamily residential and commercial properties valued at over $500M. The Companies accessed and pooled capital by selling limited equity interests in the properties, which were encumbered by high-interest loans with balloon payments. The securities sales often involved off-the-record bookkeeping.
Portfolio-wide defaults led to the scheme unraveling. The Companies' principals made accusations against each other, which became headline news for months. KSMP's creditors filed an involuntary bankruptcy petition against the company. The FBI seized KSMP's records, and investors filed numerous lawsuits. The court-appointed Responsible Individual for KSMP retained J.S. Held as the Operations and Asset Manager of the company's portfolio of 34 assets to execute Section 363 sales to optimize returns for investors and creditors, and to oversee accounting and financial reporting.
As Operations and Asset Manager, our team sold certain properties and facilitated the distribution of proceeds to stakeholders. The engagement was complicated by the fact that KSMP had no employees, its limited books and records were seized by the FBI, and the only individual with substantive pre-petition knowledge of the Debtor's operations was subject to federal indictment.
Given these circumstances, our team initially focused on reconstructing the Debtor's financial history, determining ownership of the various properties, developing a ground-up understanding of ongoing operations, and assessing methods to optimize the portfolio's recovery to fraud victims. We then advised on and implemented asset pricing and sale strategies; provided operational oversight of brokers and property managers; and coordinated property sales, due diligence, and closings.
Our team also performed key financial and bankruptcy advisory functions to support the administration of the Chapter 11 estate. These efforts included preparing and filing the Schedule of Assets and Liabilities (Form 206) and Statement of Financial Affairs (Form 207), compiling monthly operating reports, obtaining and paying off DIP financing, managing liquidity, and implementing accounting controls to manage payables, receivables, and recurring reporting obligations.
Keys to our successful recovery included:
> Responsable de la restructuration (CRO) et services de gestion intérimaire
Nos cadres intérimaires expérimentés conseillent et assistent les entreprises en difficulté financière, en hypercroissance ou ayant des postes inoccupés au sein de leur direction. Qu'il s'agisse d'un déficit au niveau de la direction dû à des difficultés d'exploitation, à la démission récente d'un responsable, à la nécessité d'un appui supplémentaire en période de forte activité ou à une recherche prolongée d'un candidat permanent, nos cadres expérimentés apportent une aide immédiate et une valeur ajoutée.
> Conseil en termes de faillite
Faire face à une faillite est particulièrement compliqué, car celle-ci implique souvent des entreprises en difficulté, des litiges, des documents financiers incomplets ou inexacts, des risques de fraude et d'autres défis, en plus de procédures strictes ordonnées par les tribunaux. Notre équipe expérimentée d'experts en redressement et en restructuration guide les clients tout au long du processus dans le but d'optimiser les résultats pour les prêteurs, les créanciers, les actionnaires et les employés.
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