Études de cas
J.S. Held acquiert Element Forensic Engineering, renforçant ainsi ses capacités dans le domaine de l'assurance pour les pertes matérielles importantes et les sinistres touchant les entreprises de taille moyenne partout au Canada
En savoir plusA regional transportation and logistics platform operating through 34 affiliated entities faced severe financial distress following a prolonged period of industry and macroeconomic challenges. The business provided a broad range of transportation and logistics services across the continental US and maintained a fleet of more than 2,000 tractors, trailers, and related equipment. At the time of the restructuring, the organization held more than $60M in secured debt obligations with multiple lenders and faced mounting vendor pressures, litigation threats, and liquidity constraints.
Despite extensive efforts to pursue strategic alternatives, including potential sale transactions, refinancing opportunities, and new equity investment, the company was unable to secure a viable path forward. Cash reserves had dwindled to approximately $1K, creating an immediate risk to payroll and payments owed to employees and independent contractors.
To maximize creditor recoveries and preserve viable aspects of the business, the company initiated an Assignment for the Benefit of Creditors (ABC) process under Minnesota law. Our experts were appointed as the Assignee and charged with taking control of operations, safeguarding assets, managing stakeholder interests, and executing a value-maximizing recovery strategy.
Acting in our fiduciary capacity as the Assignee, we oversaw the ABC process, assumed operational control, maintained business continuity, coordinated with secured creditors, managed court-approved financing arrangements, and worked to preserve enterprise value under an exceptionally compressed timeline.
The engagement required the development and execution of a comprehensive sale strategy involving extensive stakeholder coordination and the marketing of the company's operating businesses and assets. Working alongside other advisors, our restructuring experts implemented court-approved sale procedures, managed communications with more than 1,000 creditors, and supported a nationwide sale process that generated multiple qualified bidders and culminated in a competitive auction designed to maximize recoveries.
The resulting transactions included both going-concern sales and orderly asset dispositions. Throughout the process, our team navigated complex creditor interests, multiple secured lenders, operational challenges, and rapidly evolving liquidity constraints while maintaining critical business functions. Our efforts generated more than $30M in transaction value, preserved ongoing business operations, supported the retention of hundreds of jobs, facilitated significant recoveries for secured creditors, and enabled the assumption of certain liabilities that benefited vendors and other stakeholders. What began as a distressed situation with insufficient funds to meet immediate payroll obligations concluded with a successful restructuring and a series of transactions that maximized value for stakeholders and preserved viable business operations in a highly complex and time-sensitive environment.
> Assignment for the Benefit of Creditors (ABC, cessionnaire au profit des créanciers)
En tant que cessionnaires, nos experts financiers et opérationnels s'appuient sur leur vaste expérience en matière de restructuration pour liquider les actifs et maximiser rapidement les recettes pour les créanciers, en limitant les responsabilités et en préservant les emplois. Notre équipe assume de facto les fonctions de PDG et de directeur financier de l'entreprise en difficulté, en prenant le contrôle des opérations, en traitant avec les créanciers, les employés et les litiges, tout en préparant et en exécutant la vente des actifs de l'entreprise, puis en distribuant le produit de la vente aux créanciers selon leur ordre de priorité.
> Solutions face aux situations difficiles
Nous proposons des solutions globales aux entreprises en difficulté et insolvables afin de maximiser leur redressement, de limiter les risques et de rétablir leur valeur. Nos experts sont mandatés pour aider les entreprises en difficulté à stabiliser leurs activités, protéger les intérêts des parties prenantes et appliquer des stratégies de redressement. Nous adoptons une approche centrée sur les opérations qui voit au-delà du bilan pour éviter toute dégradation supplémentaire et tracer la voie vers une croissance durable.
