A proven track record is the best way to demonstrate our strength and depth of expertise. Below are examples of our team’s appointments.
Financial Advisor to the Official Committee of Unsecured Creditors of American Airlines in their Chapter 11 bankruptcy proceeding; participated in the assessment of a standalone restructuring vs. a U.S. Airways-led merger; analyzed the recovery to unsecured creditors under both scenarios.
Advising Alitalia the Italian national airline in developing restructuring and turnaround plan, submitting the plan and recapitalisation proposals to the European Commission, and in negotiating EC approval of the US$ 2bn recapitalisation via state aid
TAP Air Portugal
Assignment for the European Commission to verify the Portuguese Government’s report on the implementation of TAP's restructuring plan, and its fulfillment of the conditions set down in the EC's decision permitting state aid.
Aerospace Investment Assessment
Developed a business investment assessment for the shareholders (four private equity groups) of an $85 million aerospace company producing high-end machined parts.
This assignment led to the buy-out of three of the groups by the fourth group.
On behalf of Delta Airlines, investigated and assisted with the purchasing and contracting required to construct the Atlanta Airport 5th runway. Including detailed analysis and estimating associated with political concerns regarding fraud in connection with the sole source sale/supply of 27 million cubic yards of earthen material being transported over four miles by conveyor. Assisted with negotiations of the $350M contracts with the supplier, contractors, and the city of Atlanta. As well as offering independent reporting, findings, and testimony to the Atlanta City Counsel.
Financial Advisor to Microdot, Inc. prior to, and during, the company’s Chapter 11 case. Developed the strategy for a management buy-out of one its connector divisions serving the aviation industry. Prepared an offering memorandum and solicited competing bids. Management was over-bid by an all-cash offer, exceeding secured lender expectations.
Sheffield manufacturing Company
Conducted quarterly valuation analyses of Sheffield Manufacturing Company, a manufacturer of specialized component parts for a wide variety of commercial and military aircraft manufactured by Boeing, Northrop Grumman, Lockheed-Martin, Rolls Royce, Raytheon and Spirit Aerosystems. Our valuation analyses were used by the company’s private equity sponsor in connection with their portfolio financial reporting.
National Air Cargo Holdings
Financial advisor to National Air Cargo Holdings, Inc. (d/b/a National Airlines) in connection with a potential sale of a minority shareholder interest to a China-based airline, Hainan Airlines Group. National Airlines is a Part 121 certified air carrier that provides air cargo, freight forwarding, chartered passenger service and scheduled passenger service to both domestic and international destinations. A valuation analysis was conducted and valuation opinion issued in connection with the fair value of the company’s common stock.
Appointed Chief Restructuring Officer of QPM, a Portland, Oregon based company that manufactured landing kits for the Boeing 737. At the date of the appointment, the company was negotiating a renewal of the Boeing contract while simultaneously attempting to renegotiate their in default credit facility. Boeing was not going to extend the contract unless the lender wrote off a significant portion on the debt, but the lender would not agree to that without a renewal of the contract. We resolved the impasse, by getting both Boeing and the lender to give us time to sell the company. The resulting sales process recovered 40% more than expected and put the company in the hands of a buyer that had the confidence of Boeing.
Stuttgarter Flugdienst GmbH (SFD)
Appointed as administrators for flight service provider Stuttgarter Flugdienst GmbH (SFD). Business operations were maintained during the proceedings whilst an investor was found who took over and kept on 60% of the employees.