A Depth and Breadth of Experience and Success

Turnaround and Restructuring Assignments:

$100 million government contractor:  Neil served as crisis manager working closely with a new president and general counsel to stop the catastrophic cash flow losses.  Took control of cash management and developed and implemented a plan with management to restructure operations, to eliminate all non-mission critical expenditures and to eliminate money losing operations. Business returned to marginal profitability in four months and refinanced its debt a year later.

Early stage creator of children’s sleep products:  Neil provided strategic and financial advice to struggling entrepreneurial driven company that faced serious issues concerning profitability, creditor claims, product liability and government regulation.  Worked closely with management to identify, evaluate and implement a strategy which resulted in a planned winding up of the business. 

Grocery store chain: Neil was introduced by counsel for the  owners and management to advise regarding options and strategies with deal with to their failing business.  Identified options other than bankruptcy for winding up the business affairs.  Developed and assisted management and counsel to successfully implement the plan.

Min Sik Kang and MS Grand, Inc.:  Neil served as financial advisor to the Examiner with Expanded Powers in the Chapter 11 bankruptcies (ED of VA) of Mr. Kang and his food distribution business.  Advised the Examiner regarding the business operations which included a wholesale meat and fish distributor and six international grocery stores in the metropolitan Washington, DC region.  Responsible for investigating the financial affairs of the debtors resulting in the identification of millions of dollars of potentially recoverable transfers.  

 

$40 million furniture retailer – Mastercraft Interiors:  Neil advised the debtors and their counsel in the planning and execution of a liquidation of a multi-store, high-end furniture retailer. Advised management on the lender relations, developed downsizing strategy, led the process to select an agent to liquidate the inventory through GOB sales, and assisted counsel and management with the wind-down and dissolution of the business.

Trustee and Receiver - Fiduciary Roles

Apex at Kutztown, LLP:  Neil served as court appointed receiver for a 500 unit off-campus student housing complex near Kutztown University in Pennsylvania.  Successfully brought order and direction to a situation paralyzed by dissenting partners and foreclosure actions.  Immediately brought in a real estate broker and closed a sale within three months which paid all creditors in full and left funds for distribution to the partners.

Yorktown Funding, Inc.:  Appointed as the Chapter 11 bankruptcy trustee, Neil took over a faltering Chapter 11 case.  Yorktown was a consumer construction mortgage lender that failed due to the collapse of the real estate and mortgage industries during the Great Recession.  He immediately redirected the corporate operations to focus on monetizing assets and resolving lender claims and related issues.  Successfully settled with every lender, liquidated real estate assets and collected outstanding loans.  Made distributions in excess of expected amounts to creditors.  

EZ Lube LLC:  Neil served as Plan Administrator for the liquidating trust created pursuant to the plan of reorganization for EZ Lube and as an independent member of the board of directors for the reorganized company. The trust pursued litigation against the former founders and shareholders of EZ Lube for fraudulent transfers and other actions.  A successful settlement resulted in distributions to general unsecured creditors far in excess of expectations