ABC for Chain of 11 Medical Clinics

Asset Sales, Landlord Negotiations, Litigation

ABC for insolvent chain of medical clinics

The Bottom Line:

As Assignee in the Assignment for the Benefit of Creditors (“ABC”) for a chain of 11 shuttered, insolvent medical clinics, Stapleton Group achieved a $5MM recovery for unsecured creditors and eliminated approximately $5MM in lease obligations.

Objective:

Optimize recovery for all creditors and avoid additional liabilities.

Actions:

Sold assets to various buyers. Negotiated with landlords to avoid approximately $5MM in future lease obligations. Initiated litigation resulting in $5MM settlement for unsecured creditors. Managed claims process and creditor communications.

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