As Assignee in the ABC of a multi-channel, direct-to-consumer retailer, Stapleton Group improved creditors’ recovery from zero to $2.5MM+ by designing and implementing the competitive sale of business assets and substantially reducing vendor claims.
Stapleton Group helped achieve the 100% recovery of a bank’s $33.5 million loan to an insolvent national food wholesaler that had entered an ABC.
Achieved a recovery 3-4x greater than could have been accomplished in a Chapter 7, saved jobs and ensured customers’ projects were completed
Successfully sold a custom cabinetry manufacturer suffering chronic cash flow problems and near bankruptcy to a strategic buyer in an Assignment for the Benefit of Creditors (ABC). Paid secured creditors in full with the proceeds, and administered a claims process for unsecured creditors that returned approximately 5% of accounts payable on a pro-rata basis.
