Bankruptcy Services

In certain instances, the most effective way to restructure a Company's financial position is through a Bankruptcy proceeding. Parkland's seasoned professionals can assist company's in evaluating their situation and, working with the company's counsel, come to the most appropriate solution.

In addition to the business evaluation and recommendations, Parkland can also assist companies through the bankruptcy process by:
  • Leading the efforts to negotiate and secure DIP financing
  • Assisting the Debtor to comply with bankruptcy reporting issues
  • Developing a Plan of Reorganization
  • Expert testimony in Court
  • Analyzing and collecting preference payments and fraudulent transfers
  • Reviewing filed claims and making appropriate recommendations
  • Overseeing the distribution of funds from the bankruptcy estate
  • Assisting in the communication process to all affected constituencies
  • Taking the lead role in bringing parties to any asset or business sale
Parkland's turnaround expertise has also aided Creditor Committees in reviewing the strengths and weaknesses of Debtor plans, and has been instrumental in the retention of principals of Parkland as Bankruptcy Trustees and State Court Receivers.

Liquidation Services

Unfortunately, sometimes the company cannot continue as an on-going entity. Owner fatigue, lender fatigue, or market forces may necessitate a liquidation of the business. Once that decision is made, time is no longer an asset, but a liability.

Parkland is poised to quickly respond to these unique situations. Our twin-track methodology translates into the maximum return for all parties. While pursuing liquidation scenarios, Parkland also offers the assets of the company to buyers of distressed businesses. Within a short timeframe, the fullest recovery for the company can be determined, and pursued.

Additionally, Parkland's pro-active approach means information concerning environmental and regulatory issues are reviewed sooner, allowing the process to proceed smoothly.

Finally, Parkland is often called on, by the Company, Lenders or Creditors, to determine a liquidation value (orderly and forced) of the enterprise and in preparing liquidation plans and projections.