Receiverships, US Trustee Appointments, Liquidating Trustee Appointments, and Plan Administration. Assignee for Benefit of Creditors

Our experience serving in our fiduciary capacities teaches us that each case contains its own unique and complex set of circumstances and objectives. Marcum provides a wide range of professional services to secured and unsecured creditors committees, accountants, committee advisors, debtors-in-possession, shareholders, equity holders, secured lenders and other involved parties. These types of cases can consist of:

• State or Federal Court appointed receiver for asset seizure and liquidation;
• Chapter 11 and Chapter 7 US Trustee or Chief Restructuring Officer;
• Liquidating Trustee for Bankruptcy Liquidating Trust;
• Plan Administrator for Bankruptcy Restructuring Plan; and
• Assignee in State Assignment for Benefit of Creditors.

Marcum offers innovative and creative solutions delivered with a high degree of efficiency based on years of experience. Our specialists are skilled at developing and then implementing business plans, especially in the "shadow of bankruptcy" to restore a company to long-term operational and financial stability. Depending on a client's particular needs, we employ a variety of strategies, including debt restructuring and discounting; lending forbearances; recapitalizations and mergers; market, cost or pricing repositioning; and solutions to managerial, labor, structural, and operational issues.

In situations where the causes of business distress are incurable and a turnaround is not an option, we identify, negotiate, and implement business plans to mitigate losses for all stakeholders and claimants. We have developed and refined systems and procedures necessary to operate distressed businesses, locate assets, administer collections and disbursements, sell unique and/or geographically disbursed assets, and expedite disbursements to creditors. Marcum is also accomplished in negotiating out-of-court reorganizations and is particular adept at negotiating discounted payoffs with institutional lenders.

Fiduciary appointments require specialized knowledge in estates' industries and asset types. Barry Mukamal, a Chapter 7 Panel Trustee, heads this practice whose professionals have significant experience and qualifications in more than 30 industries, including real estate construction and development, manufacturing and distribution, healthcare, hospitality, aviation and trucking. Marcum's partners have substantial experience as court appointed receivers or other fiduciaries on interrupted real estate projects and distressed operating businesses. The Advisory Division can rapidly access the expertise of real estate, insolvency, forensic, computer forensic, and fiduciary professionals to effectively manage an estate. Our fiduciary team's skills and experience includes:

• Rapid analysis of an estate's business operation, pre and post petition and the development of a plan to optimize an estate's value;
• Developing strategic solutions for all parties in interest, when required;
• Asset seizure and recovery, management, marketing, and disposition;
• Construction contractor oversight for completion of interrupted real estate projects;
• Identification of potentially fraudulent transactions and preference transfers, valuations of the feasibility of proposed reorganization plans, forensic accounting to identify hidden or improperly transferred assets, and detailed investigations of the debtors or owners financial affairs;
• Preparation and review of liquidation analysis, if required;
• Development and consideration of reorganization alternatives;
• Management of litigation to optimize an estates value;
• Management team and personnel assessment;
• Comprehensive claims management;
• Debt restructuring analysis;
• Development and implementation or orderly liquidation alternatives;
• Tax advise on complex issues and compliance matters; Preparation and filing of all fiduciary documents and compliance filings, including all opening, interim and closing reports in a transparent fashion that informs all interested parties of the estates status;
• Analysis of business operations and performance, pre and post-petition;
• Preparation and review of liquidation analysis;
• Development and consideration of reorganization alternatives;
• Management team and personnel assessment;
• Negotiation;
• Comprehensive claims management;
• Debt restructuring analysis;
• Development and implementation of orderly liquidation alternatives; and Tax advice on complex cases as well as routine compliance matters.

We offer a track record of successful estate administration. Marcum's approach to case management is founded on the premise of cost/benefit in evaluating alternatives and developing the fiduciary's plan for asset seizure, preservation, liquidation, and claims distribution. Finally, communication with all parties in interest, in often adverse and contentious circumstances, is critical to successful estate administration.