Tag | ABC

ABCs – Alternative to Bankruptcy & Receivership

09.11.24

ABCs can be Prudent Alternative to Bankruptcy & Receivership An Assignment for the Benefit of Creditors (ABC) can be the most prudent fiduciary action by a distressed company’s board of directors. The benefits of ABCs compared to Ch. 7 & 11 bankruptcies, receiverships, and other out-of-court restructuring methods include: Speed: Out-of-court ABCs can be completed […]

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Stapleton Named Assignee of Romeo Power

07.6.23

Romeo Power, a battery-maker purchased by electric-truck maker Nikola (Nasdaq:NKLA) in October 2022, was transferred to assignee SG Service, an affiliate of Stapleton Group, Inc. in an Assignment for the Benefit of Creditors. According to the Wall Street Journal, Nikola purchased Romeo Power in October 2022 to reduce bottlenecks in electric truck production. Struggling from […]

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6 Best Practices to Maximize Turnaround Outcomes

11.15.22

Be Direct with Troubled Companies How can you guide a troubled company to maximize its restructuring options for the best outcome? The key is early action and direct communication. Here’s why. Rapidly Diminishing Options During our decades of experience in the restructuring sphere, far too many clients have hesitated before calling to discuss distressed companies. […]

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Stapleton Group Helped Bank Recover $33.5MM

10.29.20

After discovering a $10+ million over-advance on a borrower’s line of credit, a bank retained Stapleton Group as its Financial Advisor to investigate, and then to help optimize its financial recovery. The borrower was a 45-year old, family-owned food wholesaler serving national accounts from operations in multiple states. Its liquidity problems started after installing a […]

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Stapleton Group Completed Successful ABC for Cabinet Manufacturer

06.9.16

After multiple years of mismanagement and poor A/R collections, a cabinet manufacturer and carpentry contractor was illiquid and headed toward a Chapter 7 liquidation. Its attorney recommended hiring Stapleton Group to assess alternatives. In an Assignment for the Benefit of Creditors (ABC), we achieved a recovery 3-4x greater than could have been accomplished in a […]

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