BDO provides a full range of financial advisory services for debtors, including:
- Pre-bankruptcy planning, including first-day motion support; creditor identification and development of creditor matrices; identification of immediate financial needs to be part of the first day motions, and more.
- Assistance with the preparation of 13-week or longer cash flow forecasts, Statements of Financial Affairs (SOFA), Schedules of Assets and Liabilities (SOAL), Monthly Operating Reports, Liquidation Analysis supporting the Plan, financial projections supporting business plans and any other required financial analysis.
- Review of insider and intercompany transactions, debt restructuring or exit financing options; advice on exit strategies; assistance with disclosure statement preparation and turnaround plan development; assessment of business plan feasibility; viability of ongoing operations evaluation; and assistance with negotiations between the debtor, lenders and creditors.
- Claims reconciliation, including matching proofs of claim to scheduled liabilities, reviewing and reconciling Proof of Claims to determine claims to be objected to, and analysis and preparation of support for claim objections.
- Distribution and creditor recovery services, calculation of distributions to creditors, and related creditor communications.
- Bankruptcy accounting and reporting, including reorganization and fresh-start accounting analysis, and more.
BDO can also act as financial advisor to Official Committees of Unsecured Creditors, and as advisors to Trustees in bankruptcy (Chapter 11 or Chapter 7). In these roles, we support unsecured creditors and ensure they have a voice in the bankruptcy case, working closely with counsel to determine the reasonableness of proposed transactions and the financial information provided to support the need and appropriateness of those transactions, analyze proposed Debtor actions, including sales of assets and/or proposed restructuring plans, assist counsel in preparing objections to motions not in the best interest of creditors, participate in settlement negotiations to resolve disputed issues, as well as attend auctions (if any) and court hearings, where testimony might be needed. BDO’s primary goal when representing creditors is to assist in determining the best alternatives and strategies available to creditors and to maximize value for creditors.
We perform forensic investigations and provide a full suite of financial advisory services to any party involved in bankruptcy-related litigation, including matters such as fraudulent transfers, preferential transfers, claims against directors/officers and others. BDO’s professionals can also provide expert testimony related to solvency of the debtor, improvement in position for financial institutions, reasonably equivalent value, as well as in matters such as the reasonableness of key employee incentive plans, best interest of creditors test, plan feasibility, substantive consolidation and claim-related disputes.
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