The firm was engaged by a prominent specialty constructor with a mixed backlog of bonded and unbonded work to work out of a severe negative cash flow and insolvency problem. The client’s principals faced personally guaranteed debts of over $4.6 million. Within just 90 days, the firm counseled its clients through a workout that resulted in payouts of less than half of the debt, allowing the principals to re-start their careers.
Counsel: P. Randolph Finch Jr. and Adam C. Witt