Services
Fiduciary Positions
Often when a company is in crisis, especially
in a legal matter, those who served in roles of
responsibility and accountability are asked to step down. In those
cases, a company needs a third party to act on behalf of either
the debtor or creditor. Traxi professionals are dependable Trustee
and Examiners in and outside of court.
We have advised both secured lenders, unsecured creditor committees,
on boards of trustees on behalf of a debtor or creditor.
Because of our high level of professionalism, discretion and long-term relationships, we have been asked to serve in fiduciary positions as:
Chief Restructuring Officer
Restructuring Manager
Liquidating Trustee
Plan Administrator Trustee
Board Member Representing Shareholders
See
Examples »
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.
