Restructuring Advisory Services (Select Engagements)

Transportation Company – Out-of-Court Restructuring Advisor to Debtor

This $40 million privately-held company provided ground transportation and paratransit services throughout the state of Florida. Mr. King, as the financial advisor to the Board of Directors, worked day to day with stakeholders and executive management to evaluate various restructuring alternatives by examining the profitability and capital requirements of key business lines, creating detailed forecasts of current working capital requirements and near-term financial results of operations, negotiating settlements or more favorable terms with critical vendors and litigants, and assisting with the sale and wind down of various business lines.

Other Professionals / Stakeholders: Squire Sanders (Debtor’s Counsel); PNC Bank (Secured Lender)

Cordia Communications Corp (Telecommunications) – Restructuring Advisor / CRO

Cordia Communications Corporation (“Cordia”) was a publicly-traded company which provided local and long distance services to thousands of customers throughout the United States. Mr. King assisted the Chief Restructuring Officer as the primary professional responsible for the day-to-day management of this liquidating Chapter 11 proceeding, which included providing bankruptcy support services, working with existing management in the marshaling the Debtor’s business records, assets, and wind down of operations at office sites; facilitating the 363 sale of the company’s operations and receivables, and preparing and managing the Debtor’s various court and regulatory reporting requirements.

Other Professionals / Stakeholders: Bilzen Sumberg (Debtor’s Counsel); Thermo Credit, LLC (Lender); Baker Hostetler (Lender’s Counsel)

Cooker Restaurant & Bar (Casual Dining) – Restructuring Advisor to the Chapter 11 Debtor

Cooker Restaurant Corp was a publicly-traded company that owned and operated fifty casual dining stores located in five different states with revenues approximating $150 million. As financial advisor to the debtor, Mr. King provided all bankruptcy support services, worked closely with executive management and counsel to prepare the necessary financial models and cash forecasts to assess, manage and project store by store performance and develop key financial terms in support of the company’s confirmed plan of reorganization.

Other Professionals / Stakeholders: Pachulski Stang Ziehl & Jones (Debtor’s Counsel); Bank of America (Secured Lender)

Breed Technologies, Inc. (Automotive Manf) – Interim Officer of Chapter 11 Debtor

Breed Technologies was a $1B+ publicly-traded multinational company that manufactured automotive airbag systems and other parts for Tier 1 automobile manufacturers (Ford, Chrysler, GM, and Fiat). Mr. King acted as Breed’s interim officer (Treasurer) responsible for global cash management, cash forecasting and capital budgeting during Chapter 11 restructuring proceeding allowing for a confirmed plan of reorganization.

Other Professionals / Stakeholders: Pachulski Stang Ziehl & Jones (Debtor’s Counsel)

Stevedoring Company (Shipping) – Out-of-Court Restructuring Advisor to Lender

This privately-held shipping company provides stevedoring and other marine cargo handling services between Florida and the Bahamas. At the request of the company’s secured lender, Mr. King worked closely with existing management and lender to assess the company’s key business drivers and projected financial results, assess the value of various assets collateralizing the lender’s loan, and to evaluate various proposed terms and covenants of a forbearance agreement that would allow the company an ability to continue operations and provide the secured lender adequate assurances of future performance.

Other Professionals / Stakeholders: Berger Singerman (Lender’s Counsel); First Caribbean Bank (Secured Lender)

Women’s Apparel Company (Retail) – Out-of-Court Restructuring Advisor to Debtor

This family-owned company, a wholesaler and retailer of women’s discount fashion apparel, operated a 60,000 square foot warehouse distribution center and owned several small strip center stores located throughout the Northeast. Mr. King worked closely with existing owners and management in preparing financial projections, establishing thirteen-week cash forecasts; negotiating terms with landlords and critical source vendors; preparing liquidation analyses, and ultimately reaching an out-of-court plan with its landlords and critical vendors to allow the company to continue as a going concern.

United Producers, Inc. (Agricultural) – Restructuring Advisor to the Chapter 11 Debtor

United Producers, Inc., located in Columbus, Ohio, was a cooperative organization (owned by farmers and ranchers) which acted as a processor for thousands of livestock transactions totaling over $1 billion per year. As financial advisor to this debtor, Mr. King worked closely with existing management to assess and manage short term liquidity issues and prepare detailed financial models that could be used by stakeholders in developing and confirming a plan of reorganization. This successful restructuring was recognized in 2005 by Turnarounds & Workouts.

Other Professionals / Stakeholders: Vorys, Sater, Seymour and Pease LLP (Debtor’s Counsel)

Other restructuring advisory engagements:

Restructuring Advisor to Huffy Corporation, Chapter 11 Reorganization
Bankruptcy Support to Pacific Lumber Company, Chapter 11 Reorganization
Restructuring Advisor to Valeo Electrical Systems Inc., Chapter 11 Reorganization
Restructuring Advisor to Gingiss Formalwear Inc., Chapter 11 Reorganization
Restructuring Advisor to Wallace’s Bookstores, Inc., Chapter 11 Liquidation
Restructuring Advisor to Real Estate Developer (Out-of-Court)
Restructuring Advisor to Dairy Products Manufacturer (Out-of- Court)
Restructuring Advisor to Utility Product Wholesaler (Out-of-Court)
Restructuring Advisor to Children’s Book Publisher (Out-of-Court)
Restructuring Advisor to the Creditor’s Committee of Fine Air Services, Inc.
Restructuring Advisor to the Creditor’s Committee of International Air Leases of P.R.
Restructuring Advisor to a National Gourmet Food Delivery Service (Out-of-Court)
Restructuring Advisor to Boat Dealership (Out-of-Court)