Distressed situations require specialized skills. For debtors, creditors, and other stakeholders, timely, experienced financial advice is critical to protecting interests, preserving collateral, and stabilizing the going concern value of a debtor entity. BVA can provide skills and experience, such as debtor advisory/CRO services, liquidity and cash management services, and lender/creditor advisory services, to help distressed debtors and creditors weather the storm.
BVA served as financial advisor to the debtors. In this capacity, BVA prepared the proposed plan of reorganization, created financial forecasts, evaluated existing loan agreements, negotiated with pre-petition lenders, and identified proposed operational improvements and strategic alternatives.
BVA provided advisory services in preparation for a Chapter 11 filing for multiple debtors. Specifically, prepared exhibits for debtors’ first day motions, obtained approval of cash budget to support use of cash collateral and payment of prepetition wages, and managed bank accounts and vendor payments to preserve liquidity.
On behalf of the debtor, BVA managed the daily cash in five countries and approved every potential payment. Additionally, managed cash projections, corporate budgeting, and foreign exchange rate exposure as well as developed a strategic and operational overhaul and negotiated with lenders and suppliers.
On behalf of TLGFM, BVA served as interim CFO providing general financial oversight and coordinating negotiations between key parties, including the debtor’s chief restructuring officer, and providing support for TLGFM’s administrative claims. BVA also provided accounting and finance support to TLGFM.