Marcum LLP
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Performance Improvement



Debtor / Credit or Committees

Often times, debtors and creditors in situations involving insolvency seek guidance from an independent financial advisor. As financial advisor to a debtor or creditors, Marcum's objective is to assist the Committee in its efforts to maximize recovery for creditors. Marcum is especially suited for this role because of its extensive experience in providing advisory services to all constituents in bankruptcy proceedings, including creditor committees, debtors and trustees.

In its role as financial advisor to Committees, Marcum is prepared to provide the following assistance at the direction of the Commission and its counsel. In this capacity, our Advisory team:

  • Evaluates restructuring alternatives, whether as an out-of-court restructuring or a formal bankruptcy proceeding
  • Determines economic feasibility of restructuring alternatives or prospects of debtor recovery or solvency
  • Monitors debtor operations against reorganization plan and assess strength of existing management personnel
  • Provides consultation to confirm the Disclosure Statement and Liquidating Trust
Operational
  • Analyzes debtor's operations and communication of findings to the Committee
  • Prepares cash flow budgets to determine cash needs and related monitoring of budget variances
  • Assesses business viability and indication of value of the business.
  • Identifies potential for cost cutting and/or profit enhancement and assist in implementation
  • Preparation of receivership budget
  • Inventory and inspect the abandoned properties and identify unsafe or other hazardous conditions
  • Board and otherwise secure improvements. Initiate a continuing maintenance plan for the sites and improvements until the foreclosures are completed
  • Review the status of real estate taxes and payment thereof
  • Review liability and casualty insurance requirements and procure adequate coverage
  • Review the status of all permits and other development entitlements and develop and implement a plan to preserve them as necessary until the foreclosures are completed
  • Marshal and store any personal property pertaining to the projects
  • Engagement and mobilize interim and limited construction activities as may be needed and approved by the lender to preserve collateral value and comply with code requirements
  • Facilitate and oversee government inspections of the improvements as may be needed from time to time
Accounting and Reporting
  • Reviews reports such as monthly DIP reports for discrepancies and/or inaccuracies.
  • Performs accounting services as needed so that the debtor€s accounting reports accurately reflect its operations
  • Communicate with the lender and other interested parties, as necessary. Appear at court hearings, and, if necessary, testify
Asset Sales and Recovery
  • Reviews of existing assets such as receivables and efforts to expedite recovery
  • Sale supports of assets including preparation of bid packages, evaluation of competing sale offers and negotiations with potential buyers
  • Evaluates the merits of asset liquidation proposals
Litigation Support
  • Review of pre-petition activity to explore potential preferential transfers to insiders and non-insiders
  • Forensic review of pre-petition activity for fraudulent transfers to officers, insiders and/or affiliates
  • Litigation support for any disputed receivables and payables
  • Expert testimony as required
  • Provides complex forensic analysis
Plan of Reorganization
  • Analysis and review of debtor's plan and evaluation of alternatives
  • Liquidation analysis required for Plan
  • Evaluation of tax consequences due to plan proposals
  • Provides consultation to confirm the Disclosure Statement and Liquidating rust documents
  • Develop liquidation analyses

In these roles, we interact directly with the debtor in an independent support capacity or in a monitoring role on behalf of the creditors.

BUSINESS PERFORMANCE
Business Valuations
Loan Portfolio & Credit Risk
Mergers & Acquisitions
Performance Improvement
Real Estate Acquisition
Risk Management
Forensic Accounting
Bankruptcy
Securities Litigation
Computer Forensics
Business Valuations
Real Estate
Transaction Services
Marital Dissolution
Law Enforcement
Mergers & Acquisitions
Government & Not-for-Profit
Commercial & SEC
Accounting & Bookkeeping
Tax Return Compliance
Financial Statements
Business Advisory
Estates, Gifts & Trusts
Bankruptcy & Insolvency
Family Business
State & Local Taxation
SEC & Corporate Compliance
International Taxation
Real Estate Taxation
Athlete & Entertainer
Tax-Exempt Services
Advertising
Agriculture
Automotive
Aviation
Banking/Insurance
Broadcasting
Broker Dealers
Construction
Country Clubs
Distribution
Employee Benefit Plans
Entertainment
Franchising
Healthcare
Hospitality/Travel
Import/Export
Law Enforcement
Manufacturing
Maritime/Admiralty
Municipalities/Districts
Not-for-Profit
Professional Services
Publishing
Real Estate
Retail
SEC
Shipping
Sports
Technology
Telecommunication
Textiles
Utilities


Contacts
Miami, FL
305.995.9770
Contacts
Boston, MA
617.226.0487
Contacts
Melville, NY
631.414.4240
New York City, NY
212.485.5712
Contacts
Philadelphia, PA
484.270.2520
Philadelphia, PA
484.270.2530
Philadelphia, PA
484.270.2700

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