In critical situations, independent assessment and monitoring of a borrower provides the confidence required to know when and what actions to take. In the worst of cases, financial experts help to ensure recoveries are maximized.
Legion assists banks, private equity funds, and other creditors in assessing and monitoring a borrower’s current financial condition, operations, strategic plan, and value and security of collateral. Our analyses help to ensure a borrower is in compliance with laws, regulations, and agreements. Our extensive experience leading distressed companies through crisis helps to assess whether a borrower’s strategic plan is sufficient to ensure the long-term viability of the company. When required, we conduct forensic accountings and quickly and efficiently help to identify and take possession of collateral. We support lenders throughout the distressed asset process, including the management and monetization of operations, intellectual property, real property, equipment, inventory, accounts receivable, and other diverse collateral. Our involvement helps to increase transparency and the lender’s confidence that the actions taken are appropriate given the current situation.
Areas of Expertise:
Accounts receivable valuation, verification and collection
Asset recovery strategy assessment, development and execution
Business plan assessment, development and execution
Cash flow analysis, forecasting and monitoring
Collateral sale or disposition
Forensic accounting and investigations
Litigation support and expert witness testimony
Operational review and analysis
Receivership and examiner services
Working capital and liquidity assessment
Representative Engagements, Include:
ConstructionAccounts Receivable Verification and Collection
Assisted secured lender to identify, quantify and monetize certain assets of a regional concrete and asphalt company. Analysis included the calculation of accounts receivable owed to the company by two national home builders for certain work completed, work in progress and retroactive adjustments to pricing schedules; identification and calculation of liens filed against the concrete company; verification of the concrete company's accounts payable balance to subcontractors; and the ultimate collection of amounts due to the company.
ManufacturingCollateral Monitoring, Inventory, Valuation and Sale
Assisted secured lender to a specialty glass manufacturing company in Chapter 11: analyzed collateral; monitored debtor operations; secured company assets; and ultimately liquidated secured lender's collateral.
Retail & ServiceOperational Review and Analysis, and Collateral Monitoring
Assisted secured lender to a printing company in Chapter 11: analyzed collateral; monitored debtor operations pursuant to court order; and assisted secured lender in settlement negotiations.
Real-EstateCollateral Monitoring and Security
Worked with a lender to secure and take possession of three developments with finished homes, partially completed homes and several lots: prepared and executed plan to secure partially constructed properties; prepared status update reports; and monitored properties until sold at auction.
Assisted secured lender to a multi-state feed wholesaler and distributor of corn silage, sorghum silage, tempered rolled corn, and beet pulp: analyzed financial records from owner/operator; performed forensic accounting; identified assets previously concealed by the owner/operator; and assisted lender in recovery of assets through court action.