Case Studies
J.S. Held Acquires Clark Seif Clark, Strengthening West Coast Capabilities for Environmental Claims, Disputes, and Catastrophe Response
Read MoreOne of the largest flooring manufacturers in North America filed for bankruptcy in 2017. Our team was engaged as the financial advisor to the unsecured creditors’ committee. The majority of the assets were sold through a “363 Sale.” Several months later, the Plan of Liquidation was confirmed and we were named as Trustee of the Liquidating Trust. As Trustee, we had the exclusive authority to pursue, prosecute, resolve and/or compromise any and all Claims and Causes of Action pertaining to the Debtors and the Debtors’ estates.
As the Liquidating Trustee, our team managed the estate’s remaining assets and maximized recovery for approximately 500 unsecured creditors. This required navigating and resolving a wide range of claims:
Our team performed in-depth reviews of each claim. We also pursued approximately 200 preference claims and collected settlements from more than 125 of these parties.
We implemented a broad litigation strategy, including filing suit against 23 D&O and 18 related affiliated entities asserting breaches of fiduciary duties and receipt of fraudulent and preferential transfers. All of these insider claims were ultimately resolved.
Our litigation efforts, settlement negotiations, and asset recovery over six years resulted in a successful return of more than 40% to the unsecured creditors, which well exceeded initial expectations.
Michael Jacoby
Strategic Advisory Practice Lead
+1 484 841 6808
[email protected]
> 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.
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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.