Stapleton maximized the recovery for four lenders to a multi-state wireline oil & gas service provider and preserved the business as a going-concern. The company had severe cash flow issues due to poor management.
As Federal Regulatory Receiver, Stapleton Group transformed an insolvent business to cash flow positive through capital improvements, operational improvements and creditor negotiations. Stapleton helped sell the company as a going concern to salvage a return for its defrauded investors.
Stapleton quickly facilitated a 70% recovery for a bank after its borrower, an auto dealership in Northern California, defaulted on its floorplan loan. Recovery was complicated by a convoluted process of receivership and bankruptcy filings, during which time the assets (new vehicles) continued to depreciate.
In a situation that could have been a complete write-off, recovered approximately $3 million for the lender by restructuring an onerous government liability from $17 million to less than $1 million, transitioning the shuttered business to a going concern and selling it to a strategic buyer.
Successfully recovered $12 million in debt in a tenuous, cross-border situation involving a 20-year old furniture manufacturer. Led complex negotiations with a Mexican labor union and Mexican tax authority to cleanse title on assets. Aggressively managed vacant buildings in Mexico while coordinated the sale of real property and the liquidation of inventory located in the U.S. and Mexico.
Achieved a recovery for investors in a real estate investment fund by unraveling a tangled web of investor contributions, investments in real properties and underlying documentation and completing construction of a 9-home subdivision in the San Francisco Bay Area. Enforced investors’ loan positions through negotiations and litigation through conclusion.
Achieved a 100% payoff for the bank through the successful receivership of a large dairy business. Stapleton Group served as interim CEO/CFO of the dairy operation while simultaneously selling its farms, animals and transport assets in a timely manner. The complex process involved significant coordination between stock yards, auctions yards, ranch hands, long haul trucking, buyers, brokers, defendant’s accounting team, dairy cooperatives, veterinarians and feed suppliers.
Rapid growth, a cyclical business and recession took its toll. Stapleton resolved the issues and sold the manufacturer/wholesaler of consumer goods to the debtor’s heirs in a competitive process.