Industries & Clients
Industry Expertise
Apparel |
Food Distribution |
Pharmaceuticals |
Selected Engagements and Representative Clients
American Classic Voyages |
Friedman Valuation |
NEXL |
American Classic Voyages
Traxi served as Financial Advisors to the Plan Administrator. Traxi provided extensive solvency analyses for each filed subsidiary of this $250 million cruise ship operator that ultimately was liquidated in bankruptcy. Traxi prepared expert reports and testified in bankruptcy court as an expert on behalf of the Plaintiff in fraudulent conveyance proceedings.
Advanced Marketing Services
Traxi served as Financial Advisors to the Unsecured Creditors’ Committee. Traxi participated in the marketing and sale of the company’s assets and its subsidiaries to multiple strategic buyers.
AllianceOne
Traxi served as Financial Advisors to this portfolio company of a private equity client. Traxi provided a host of comprehensive strategic and financial restructuring services, from raising $60 million in a refinancing to the sale of a non-core business.
AT&T
Traxi was retained by AT&T to defend preferential transfer actions brought against it in over a dozen matters. Prepared new value and ordinary course defense analyses, assisted counsel with settlement negotiations and mediation and drafted expert reports.
Avaya
Traxi was retained by Avaya to defend preferential transfer actions brought against it in 3 matters. Prepared new value and ordinary course defense analyses, assisted counsel with settlement negotiations and mediation and drafted expert reports.
Cablevision
Traxi represented Cablevision in a preferential transfer situation in the TW, Inc. (The Wiz) bankruptcy matter. Analyzed the relationship between Cablevision, TW and TW’s vendors where letters of credit and guarantees existed during the one and a half years preceding TW’s bankruptcy filing. Further, Traxi analyzed the solvency of TW during the five years prior to its bankruptcy filing. Ultimately, the matter was dismissed by the Bankruptcy Court after one day of testimony.
Datatec
Traxi represented managed infrastructure solutions Debtor in the sale of substantially all of its assets. Through a bankruptcy auction, value received for those assets increased over 50%.
First Interregional Advisors
Traxi served as Financial Advisors to Chapter 11 bankruptcy trustee, who was appointed as a result of a Ponzi scheme committed by the Debtor’s management. Traxi performed forensic analyses to determine the extent of the fraud committed, analyzed and reconciled investor claims, negotiated with creditors, assisted the Trustee’s counsel in the litigation to recover funds due to the Debtor’s estate, held discussions with the office of the United States attorney and the SEC to assist them in their cases leading to an indictment of Debtor’s management and supervision of the Debtor’s continuing operations.
Fruit of the Loom
Traxi represented the Unsecured Creditor’s Committee in the reorganization of its $3.0 billion indebtedness.
Hoop Retail Stores
Traxi was appointed Chief Restructuring Officer of this subsidiary of The Children’s Place Retail Stores, Inc. Traxi was retained as Crisis Managers and guided the company through all aspects of the Chapter 11 bankruptcy proceedings. Traxi assisted in the negotiation of what ultimately resulted in a $60 million private sale of the Debtor in bankruptcy to Disney Enterprises. This transaction closed successfully and generated a substantial recovery for creditors.
Kara Homes
Traxi was appointed Chief Restructuring Officer of this major New Jersey homebuilder. Traxi was appointed Crisis Managers and guided the company through all aspects of the Chapter 11 proceeding. Traxi provided operational and financial restructuring to this company which had lost its CFO and Controller prior to the bankruptcy filing. Traxi facilitated the sale or reorganization of each of the company’s 33 real estate developments. The aggregate value of all debt, equity and future construction funding committed by the plan sponsor and other lenders to the Reorganized Debtors totaled $175 million.
Koen Book Distributors
Traxi served as financial advisors to the Official Committee of Unsecured Creditors. Traxi quickly assessed the business’s viability and determined that the cessation of business and the sale of the business’ asset would result in the optimal recovery to all parties in interest. Through an auction of the company’s asset, the secured lender was paid 100% of its claim and unsecured creditors received a 14-17% distribution. Traxi liquidated the remainder of the company’s assets.
MIIX Group
Traxi was appointed Chief Restructuring Officer of this publicly traded medical malpractice third party administrator which filed for bankruptcy. Traxi was engaged to provide financial advisory services on behalf of this Chapter 11 Debtor, guiding the Company from pre-filing procedures through confirmation of a bankruptcy plan of reorganization.
Multinational Telecommunications Vendor
Since 2000, Traxi has assisted this leading telecommunications company in the workout of its distressed vendor portfolio salvaging millions of dollars of assets and facilitating sales.
New Vista Nursing and Rehabilitation Center
Traxi was appointed by the New Jersey Superior Court as the Special Fiscal Agent to the New Vista Nursing and Rehabilitation Center in response to allegations of improper conduct and management between the facility’s owners.
Polaroid
Traxi was appointed by the United States Trustee for the 3rd Circuit as the Examiner in the Polaroid Chapter 11 case, investigating and opining on complex accounting and disputed valuation issues.
Radnor Holding
Traxi represented Tannenbaum Capital as its expert their 363 Sales and Asset Sales process and facilitated the purchase of Radner Holdings, approved by the Bankruptcy Court of Delaware.
Summit Global Logistics
Traxi was appointed examiner by the United States Trustee for the 3rd Circuit to investigate an insider sale and a 363 Sales process.
Teleglobe USA
Traxi was appointed examiner by the United States Trustee for the 3rd Circuit to investigate an insider sale and a 363 Sales process.
Time Warner Telecom
Traxi represented Time Warner in a preferential transfer litigation in the Teligent Inc. bankruptcy matter. Traxi acted as the expert witness, analyzed the relationship between Time Warner and Teligent during the one-year proceedings in bankruptcy filing. We applied new value and ordinary course defenses to reduce the alleged claim to zero. The matter was favorably settled.
United Road Services
Traxi served as Financial Advisors to this portfolio company of a private equity client. Traxi provided financial restructuring services and raised $65 million in a bank credit facility refinancing.
Wham-O
Traxi was retained as the exclusive financial advisor to this world-renowned designer and manufacturer of toys and leisure equipment. Traxi assisted the Company by providing operational and financial restructuring services. Traxi ultimately facilitated the sale of the restructured company to a strategic buyer.
WorldCorp Inc.
Traxi was retained as the exclusive financial advisor to this world-renowned designer and manufacturer of toys and leisure equipment. Traxi assisted the Company by providing operational and financial restructuring services. Traxi ultimately facilitated the sale of the restructured company to a strategic buyer.