Leading the Lender Takeover

Lender holding shares for collateral, opted to exercise its rights, and vote in new board and management in one of the country's largest horticultural nurseries.

We were hired to fill interim management roles, and turn the company around.   The initial restructuring with all creditors was completed outside of a chapter filing, with the support of the key unsecured creditors.  To minimize tax consequences to this cash basis taxpayer, we invented a new financing vehicle known as a "Chicago Trust."  The firm was ultimately sold back to its owners, recovering the lender's capital, and ensuring the firm's continued success and growth.