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To the Power of Human

Recovering Assets During a Shutdown

Oct 22, 2019 |
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Client

A multi-national financial and insurance company

When a 60-year-old California vegetable processor and packer was unable to meet financial obligations, the lender tapped RGP to expedite an orderly shutdown of the business. Our cash flow reporting and liquidation analysis enabled 100% recovery for all lenders.

Our Client, a multi-national financial and insurance company, served as lender to a leading private label vegetable processor and packer that was unable to survive in an increasingly competitive market. To protect its interests and salvage the remaining assets of its troubled borrower, the Client determined that an orderly shutdown of operations was needed.

What We Did

  • Analyzed the borrower’s books and records to verify the accuracy of its inflows and outflows.
  • Developed a streamlined cash flow reporting process and reported regularly to the lender.
  • Reviewed the budget and recommended a plan to monetize the borrower’s remaining assets, close down business operations, lay off employees and make final payments to creditors.

Impact

  • Created an infrastructure for the borrower to provide efficient and streamlined status reports to the Client.
  • Managed the Client’s relationship with the borrower and its creditors.
  • Facilitated the efficient and expeditious wind-down of the borrower’s business.
  • Provided analysis and recommendations resulting in 100% recovery for lenders, despite initial apprehension from the borrower’s management
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Client

A multi-national financial and insurance company

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