Difficult decisions are required when businesses are faced with unexpected events and unanticipated financial and/or operational problems. J.H. Cohn's Bankruptcy and Restructuring Practice assists companies, unsecured creditors, equity holders, secured lenders, and other parties in interest with the complexities of both in-court and out-of-court reorganizations. We have been involved in some of the most significant bankruptcy cases in the United States. Our role in certain of these cases has resulted in groundbreaking positive rulings for our clients, including the U.S. Supreme Court's sovereign immunity decision in Central Virginia Community College vs. Katz.
Select cases include:
- Drug Fair Group, Inc.
- Fleming Companies
- Marcal Paper Mills, Inc.
- Pharmed Group Holdings, Inc.
- Thornburg Mortgage, Inc.
- Tousa, Inc.
- WorldCom, Inc. (MCI)
Bankruptcy and Restructuring Services
Our Bankruptcy and Restructuring Services Practice provides immediate and tailored assistance to distressed companies and their stakeholders. Financially troubled companies and all parties in interest require experienced financial advisors to rapidly assess the situation and aid in/monitor the stabilization of the company’s operations. We have assisted our clients throughout the entire bankruptcy process –- from strategy development through implementation of a plan of reorganization to testimony as an expert witness in avoidance action matters.
Bankruptcy and Restructuring Services Highlights:
Our bankruptcy and restructuring professionals also provide the following services to banks and other financial institutions:
- Analysis of EBITDA and cash flow
- Analysis of the bank’s collateral
- Development of alternative restructuring scenarios
- Monitoring of covenant compliance
- Due diligence reviews
Select Bankruptcy and Restructuring Engagements
- J.H. Cohn was engaged as financial advisors to the unsecured creditors’ committee of this leading provider of digital communications infrastructure solutions. The engagement involved monitoring the Debtor’s activities, evaluating the Debtor’s proposed transactions, which included the sale of operating subsidiaries, and assessing the viability of the proposed plan of reorganization and its effect on creditor recovery.
- The Firm served as financial advisors to the Official Committee of Reclamation Creditors (OCRC) of Fleming Companies, Inc., a food distributor and grocery store operator. We analyzed hundreds of potential preference actions involving total payments in excess of $1 billion. As financial advisors to the OCRC and post-confirmation Reclamation Creditor's Trust (RCT), we evaluated numerous new value and ordinary course defense scenarios utilizing traditional approaches, as well as statistical applications such as standard deviation and fitted trend analysis. Our efforts resulted in a full recovery to the reclamation creditors.