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The company was an exploration and production company with resources in the shallow water of Louisiana and was caught in the downdraft of fall oil prices. Turmoil in the industry limited its feasibility of obtaining new financing as mechanic and other liens were levied on the company. CR3 professionals were engaged as CRO during the pendency of bankruptcy. Company was successfully marketed and sold under section 363 to sell its asset free and clear of claims and encumbrances. The remaining estate claims were pursued subsequent to the plan for recovery to the unsecured creditors.
On September 15, 2021, a grain elevator operator and processor of soybeans submitted an out-of-compliance borrowing base certificate to its secured lender. What followed was a novel bankruptcy case marked by massive complexity and a near-impossible positive outcome.
Roll-up mergers can create significant value through scale and cost savings, but not all roll-ups perform as expected. Speed of integration may be the most challenging factor when acquiring and consolidating multiple assets.
Sometimes an unconventional approach validates an uncommon way of thinking. When an organization seeks interim management, it is typically distressed. A new CEO is named, and restructuring commences with the goal of continued operations or an exit.
How do a management team and Board of Directors know when to engage an interim manager, and how do different situations determine the type of interim manager they should hire?
CR3 Partners was recently named to Consulting Magazine's list of Best Consulting Firms to Work For. It is an honor to be part of this distinguished list of companies.
CR3 Partners announced that the firm received the Award for "Restructuring of the Year ($10MM to $50MM)" by M&A Advisor in the "Chapter 11 Reorganization Award" category.
Dallas-based Partner Sugi Hadiwijaya recently teamed up with Jermaine Watson at Bonds Ellis on a podcast highlighting basic aspects of how fraud-related matters are managed in a bankruptcy context. Listen to the full podcast brought to you by AICPA's Forensic and Valuation Services Section.
Reed Smith's Keith Aurzada joins William Snyder and Dawn Ragan, both of whom served as financial advisors to the equity committee in the JCPenney case. Our speakers explain the valuation of JCPenney assets and how restructuring support agreements shaped this case.
Tim Skillman, a Partner in CR3's Los Angeles office, investigates the future of the California energy industry. Is it doomed to extinction, or can something be done to mitigate its current downward trend?
CR3 has appointed new Partner Suzanne Roski to expand and lead this practice in our new Richmond office. Suzanne's background includes over 35 years of professional experience with troubled companies, litigation, forensic investigation, and valuation consulting.
CR3 Partners is proud to announce the expansion of its rapidly growing Los Angeles office by adding two Senior Associates, Alex Pettee and Ashtynn Baltimore. Along with the additions to the Los Angeles office, CR3 Partners would also like to announce its new Director, Avery Alcorn out of the Houston office.
Timothy Skillman, a Partner in our Los Angeles office, talks about the difficulties the Oil & Gas industry is facing during COVID-19 and gives some advice on how to survive in this current climate.
Led by Dustin Lough, the engagement team for The NORDAM Group, a large international aerospace company, received the Restructuring of the Year ($250MM to $500MM) award as advisors to the lending group leading up to and including the Chapter 11 bankruptcy proceeding.
Recent trends in the Oil and Gas industry, particularly the decrease in prices for crude and natural gas, suggest that mechanic's liens are quickly becoming a problem for exploration and production companies.
CR3 Partners is delighted to announce that Tim Skillman has joined as a Partner of the firm and will be heading the new CR3 Partners Los Angeles office.
CR3 Partners is pleased to announce that the firm was awarded two Turnaround Atlas Awards on May 20, 2019 at the Global M&A Network Annual Gala.
CR3 Partners is pleased to announce that Tim Shanahan has joined the CR3 Partners team and will be based in its Chicago office.
The CR3 Partners Board of Managers is delighted to announce that James Katchadurian has been promoted to Partner with the firm.
SSG Capital Advisors, LLC (SSG) acted as the investment banker to New England Orthotic & Prosthetic Systems, LLC and its affiliates in the sale of all of its outstanding senior debt to AHM Healthcare Strategies (AHM), an affiliate of Eschen Prosthetic and Orthotic Laboratories, Inc. (Eschen).
CR3 Partners, a Dallas-based national turnaround and performance improvement firm, today announced that the firm was awarded a 2018 Turnaround Award for "Ch 11 Reorganization of the Year for ($25-100MM)" by M&A Advisor in the "Chapter 11 Reorganization Award" category.
The leadership of CR3 Partners, LLC, today revealed the details of their newly-formed national turnaround and performance improvement firm.