Case Studies

Plan Administrator Following 363 Sale of Restaurant

J.S. Held Acquires Clark Seif Clark, Strengthening West Coast Capabilities for Environmental Claims, Disputes, and Catastrophe Response

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Home·Plan Administrator Following 363 Sale of Restaurant

The Situation

A restaurant chain went through a Chapter 11 363 Sale that generated $65M in net sales proceeds.

How We Advised

Our team became the Plan Administrator following the Chapter 11 363 Sale, generating $65M in net sales proceeds.

  • Responsibility was to resolve administration claims, resolve sales working capital adjustments, monetize deposits, and miscellaneous assets.
  • Key responsibility was to resolve open workers' compensation claims, backed by over $8M in cash collateral held by the insurance carrier.
  • Challenged numerous Administrative Claims, such that claims were reduced by $3M on a $6.3M claims pool.
  • Negotiated $1.5M recovery from the sale working capital adjustment escrow.
  • Sold class action claim for $.4M and recovered $1.4M in deposits.
  • Resolved worker compensation claims and recovered over $4M of $8M cash collateral.
  • Our experts recovered $12M, exceeding the $13M estimated target recovery amount by nearly 100%.

Related Practice Areas

> Fiduciary Services 
We deliver unbiased, expert solutions in court-mandated and out-of-court situations that demand a third-party fiduciary, including insolvency, fraud, litigation, and shareholder disputes. When companies are in financial distress, become entrenched in complex disputes, or fraud is suspected, lenders, attorneys, and regulatory agencies recommend that federal and state courts or boards of directors appoint our experts as fiduciaries. 

 

> Solutions for Distressed Situations 
We deliver integrated solutions for distressed and insolvent businesses that maximize recovery, mitigate risk, and restore enterprise value. Our experts are retained to help distressed organizations stabilize operations, protect stakeholder interests, and execute turnaround strategies. We take an operationally-focused approach that looks beyond the balance sheet to minimize further degradation and build a path to sustainable growth. 

Key Contact

For additional information about the engagement or to learn more about our services, contact:

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