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Bankruptcy & Fiduciary Services

In the turbulent waters of corporate distress, finding a way forward can seem daunting.

The complexities of bankruptcy and the precise demands of fiduciary responsibilities require not just expertise, but a guiding hand that can effectively navigate these challenges. At Gavin/Solmonese, our approach to Bankruptcy and Fiduciary Services combines deep knowledge with hands-on experience to provide the direction businesses need to steer through periods of financial uncertainty.

We are regularly appointed trustee, assignee, or examiner in court-supervised cases and have deep experience in key aspects of restructuring proceedings, including:

  • 363 Sales: documented recognition by the courts
  • Board and Corporate Officers: for public and non-public companies
  • CEOs and CROs: taking the burden of running the bankruptcy case off of management. Reorganization plans, liquidations, asset sales. Read more about what to look for in a Chief Restructuring Officer (CRO). 
  • Independent Decision-makers: providing independent directors to relieve owners, insiders, or management of potential conflicts
  • Trustees, Assignees, and Receivers: litigation, liquidation, and settlement fiduciaries to steward assets and claims, and oversee litigation for creditors

Comprehensive Bankruptcy Advisory

Navigating bankruptcy requires a broad, strategic approach to assess the situation and make informed decisions. Our advisory services are designed to guide you through every stage of the bankruptcy process, ensuring compliance and optimizing outcomes. We work alongside stakeholders to develop a clear roadmap, focusing on debt restructuring, asset protection, and stakeholder management. Our experienced professionals bring a wealth of legal and financial expertise, ensuring your organization can navigate bankruptcy proceedings with confidence.

Fiduciary Services: Trust and Integrity

Assuming fiduciary roles in distressed situations is a critical component of our services. As fiduciaries, we act in the best interests of stakeholders, managing assets, operations, and financial obligations with the utmost integrity. Gavin/Solmonese experts are equipped to serve as Chapter 11 trustees, receivers, and assignees, providing the necessary oversight and management to stabilize and protect the value of the business. We take on these responsibilities with a commitment to transparency and accountability, fostering trust at every step.

Turnaround and Restructuring

Our Bankruptcy and Fiduciary Services extend beyond mere advisory to encompass active turnaround and restructuring efforts. Gavin/Solmonese digs deep into financial statements, operational metrics, and market conditions to identify key issues and craft tailored solutions. Whether it’s renegotiating debt terms, optimizing cost structures, or revitalizing management practices, our goal is to stop cash losses, stabilize the business, restore financial stability and position the company for a successful exit from bankruptcy.

The Gavin/Solmonese Difference

Our commitment to excellence sets us apart in the realm of Bankruptcy and Fiduciary Services. We believe in proactive engagement and holistic solutions that address both immediate crises and long-term sustainability. Each case we handle is approached with a tailored strategy that aligns with the unique needs and goals of the client. Our reputation is built on a solid foundation of successful outcomes and satisfied stakeholders.

Featured Case Study

Largest Retail Bankruptcy Liquidation in History: Montgomery Ward

In the largest retail bankruptcy liquidation in history, Gavin/Solmonese served as plan administrator, appointed by the Official Committee of Unsecured Creditors as part of their plan, filed to challenge the Debtors’ plan. The debtor was at the stage of plan confirmation, where the court evaluates and approves the restructuring plan. Throughout the case, tensions were high, as the process was marked by an adversarial relationship between the debtor and the creditors’ committee, each side advocating strongly for its interests. With few employees remaining at the company and a short deadline for research, Gavin/Solmonese completed an 88-page transition punch list and located, identified, and preserved valuable data in support of the committee’s litigation against the secured lender—all within 45 days. In this engagement, Gavin/Solmonese:

  • Closed operations at corporate headquarters on time and liquidated assets.
  • Successfully disposed of pending legal and environmental claims.
  • Supported and assisted committee counsel in innovative liquidation that has yielded returns to creditors of nearly 40%—four times the recovery anticipated under the debtor’s plan.