Computer Hardware Distributor
Service:Assignee for Creditors Benefit
Company:The Company was a computer hardware distributor to state and local government entities.
The Company had run out of cash, could not find financing and could not make payroll. All employees had walked out on the business. The owner hired an attorney, who recommended that the business be turned over to the Court for a liquidation for the benefit of creditors.
A Focus Professional was engaged as Assignee to the Benefit of Creditors to oversee the liquidation of the Company's asset and maximize recovery for the stakeholders.
- Completed assessment of the financial condition of the Company
- Prepared restructuring and financing options including liquidation scenarios
- Negotiated credit terms and transition agreements with the Company’s key suppliers
- Assisted in orderly liquidation and wind down of operations of business, preserving sizable value to creditors
- Negotiated settlements of pending litigation and customer obligations
- With the guidance of Focus professionals, the successful liquidation of the Company resulted in a greater than anticipated recovery by stakeholders.