Restructuring and Dispute Resolution case study: Costume company transaction
Through a successful 363 sale process (named after the Bankruptcy Code section that allows a debtor to sell its assets), the company was sold to a new operator, positioning it to continue for years to come. Had the company been forced to shutter its doors, general unsecured creditors would have received zero recovery. Based upon the successful sale of its assets, general unsecured creditors could receive as much as fifty cents on the dollar.Following the completion of the sale, CohnReznick is now serving as plan administrator for the company.
Kevin Clancy, CPA, JD, CIRA, CFF, Global Director, Restructuring and Dispute Resolution
InsightChecklist: Prepare your business for an economic downturnBusinesses need to take concrete steps now in order to manage and preserve cash, improve profitability, and reduce risk so they can survive a downturn. The following check list includes important proactive steps that every business should consider.
Press ReleaseKobes joins CohnReznick as Managing Director, Value360 – Transactional AdvisoryCohnReznick Managing Director Laura Kobes will be leading and expanding the firm’s Sale and Purchase Agreement (SPA) Advisory practice and advance the firm’s M&A dispute capabilities as the neutral arbitrator and advisor to buyers and sellers.
InsightMacroeconomic trends impacting the due diligence landscape: 2023 outlookClaudine CohenRead what today’s changing market dynamics mean for investors in 2023, with regard to adjustments, valuations, financials, management teams, and more.