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Claro Corporate Restructuring Overview
 

Claro Corporate Restructuring Overview

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    Claro Corporate Restructuring Overview Claro Corporate Restructuring Overview Presentation Transcript

    • Corporate Restructuring Overview The Claro Group
    • Corporate Restructuring Services  Experienced Leadership Team with a proven record of achieving results for clients in over 75 engagements  Committed to provide senior level attention and accountability to each engagement  National focus with staff in New York, Chicago, Los Angles and Houston  Corporate Restructuring Services (“CRS”) combines deep industry knowledge with restructuring expertise  CRS is operationally-focused through disciplined performance improvement analytics to ensure the enterprise is restructured to best position itself for future profitability  CRS has the valuation and capital markets knowledge to craft a sustainable capital structure which provides the restructured enterprise the financial underpinning to move forward to executing its business plan  CRS has a breath of experience in restructuring related areas such as forensic accounting, litigation support, post-confirmation trusteeships and claims settlement and reporting  Resources of a 75 person consulting practice balanced in serving both debtor and creditor constituencies with a dedicated staff of 12 senior staff 100 percent dedicated to CRS 2
    • The Claro Group Difference  The Claro Group is dedicated to optimizing the enterprise value of distressed companies and providing tangible value to the constituents we represent  Our consultants have functional experience in all aspects of the restructuring and bankruptcy process and combine such knowledge with specific industry experience and expertise in performance improvement  We have a record of negotiating with multiple constituencies which are frequently adverse towards a settlement which reflects the economic reality within the framework of the law and the governing credit arrangements  We communicate with our clients to ensure they comprehend the facts and circumstances so they are prepared to act in a manner to preserve enterprise value  We are mindful that we must add value to an engagement and are willing to tie results to our economics  We are privately owned and our success is tied to our ability to deliver value with clarity and integrity  While we are young, Consulting Magazine named us “One of Seven Small Jewels in March 2008 3
    • Claro Capabilities: Understanding Issues  Claro will immediately analyze the financial and operational situation to develop the strategies and options available and to be accessed • We have worked and have credibility with the secured lenders, bondholders, vendors, hedge funds and private equity to quickly address critical issues • Our record of working in difficult time pressured situations and ability to clearly communicate the facts at hand will serve to expedite agreement to near and long term goals • We will strive to enhance the operations to affect a turnaround and gain sufficient time to maximize value • We will obtain needed liquidity to ensure sufficient runway to a successful turnaround • When appropriate, we will rely on the skills and energy of existing management and seamlessly mold our team to support them in the turnaround • We will provide functional knowledge and experience to fill key roles as needed • We will transition to permanent management and control as soon as practical • We will sell surplus assets or liquidate the enterprise if it is concluded that is the best option 4
    • Claro Capabilities: Restructuring Experience  Claro has experience and a proven record in negotiating and implementing restructurings including: • Pre-arranged and Pre-packaged Chapter 11 restructurings • Chapter 11 filings including Liquidating 11s • Crisis Management / CRO roles • Bankruptcy Trusteeships and Examiners • DIP financing • Out of Court Restructuring • Credit Facility Covenant Modifications and Forbearances • Bond Indenture Modifications • Exchanges • Debt for Equity Swaps • Rights Offerings • Exit Financing 5
    • Claro Statement of Values  Claro understands that integrity and clarity is the cornerstone of a successful outcome. Our engagement occurs during a time of crisis where reliability and credibility of the Claro team will have a meaningful affect on the outcome and results. To that end, Claro will: • Provide analytical discipline which is actionable and fact-based • Provide advice that is objective and supportable • Accept assignments where we can add value to the enterprise • Manage and respect the relationships with all stakeholders • Foster a dialog which is constructive, respectful and conducive to value creation • Honor the trust of our clients 6
    • Corporate Restructuring Services  Claro’s Corporate Restructuring Group provides the following services to companies (pre and post petition) and creditors Interim Financial Operational Bankruptcy Bankruptcy Management Restructuring Movement Roles Litigation • Crisis Management • Liquidity • Supply Chain and • Trustee • Preferences • Exploring Strategic Enhancement Strategic Sourcing • Advisor • Insider Transfers Alternatives • Working Capital • Demand Mgt • Examiner • Causes of Action • Operations Improvements • Profitability • Responsible Party • Asset Searches Stabilization • Business Plan Enhancement • Receiver • Expert Testimony • Employee Development • Quality of Earning • Wind Downs • Fraudulent severance & • Integrated Financial Analysis • Liquidations Transfers retention plans Projections • Vendor Negotiation • DIP Sourcing & • Zone of Insolvency • Negotiations • Debt Restructuring & Management Negotiations between parties in • Financial & • Claim Analysis and • Exit Financing interest Operational Due Management • Contract/Lease • Covenant Diligence • Maximize Recovery Analysis & Negotiation • Asset Valuations from 3rd Parties Negotiation • Financial Reporting including Insurers • POR/POL Negotiations • Going Concern v. Liquidation Valuations • Conducting 363 Asset Sales • Constituency Management 7
    • Corporate Restructuring Industries  Claro’s restructuring team members have provided numerous company side and secured and unsecured creditor representation in the following industries:  Financial Services  Healthcare  Energy  Manufacturing  Real Estate  Retail & Restaurants  Services  Telecom & Technology 8
    • Corporate Restructuring – Advisors to Debtors WW Steel Allied Defense Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s Advisor Advisor Advisor Advisor Vending Data Bluewater Thermal Triboro Wholesale Services Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s Advisor For Vending Data Advisor Advisor Advisor First Wave Marine Cleartel Selected to Serve as Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s Chief Operating Officer Advisor Advisor Advisor To Citi Residential Lending, Inc. Note: Claro current professionals served these clients while employed at other firms 9
    • Corporate Restructuring – Advisors to Debtors Enron Enron Cheniere Energy Served as the Debtors’ Served as the Debtors’ Served as the Debtors’ Advisor Advisor Advisor Silver State Helicopters Served as the Debtors’ Served as the Debtors’ Served as the Debtors’ Advisor Advisor Advisor Claro current professionals may have served certain of these clients while employed at other firms 10
    • Corporate Restructuring – Advisors to Creditors Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Advisor Advisor Advisor Advisor Graphic Scanning Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Advisor Advisor Advisor Advisor Zybernaut Inc. Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Advisor Advisor Advisor Advisor Note: Claro current professionals served these clients while employed at other firms 11
    • Corporate Restructuring – Advisors to Creditors Telergy DVI Benedek Broadcasting Represented Unsecured Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Creditors Pursuing Claims Advisor Advisor Advisor From Insolvent Estates and Schemes Arranged in UK OIC Runoff Limited KWELM Southern American Mission Insurance Insurance Company Company Represented Unsecured Represented Unsecured Represented Unsecured Represented Unsecured Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims From Insolvent Estates From Insolvent Estates From Insolvent Estates From Insolvent Estates and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in UK UK US US Reliance Insurance Sovereign Marine & English & American The Home Insurance Company General Insurance Insurance Company Company Company Represented Unsecured Represented Unsecured Represented Unsecured Represented Unsecured Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims From Insolvent Estates From Insolvent Estates From Insolvent Estates From Insolvent Estates and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in UK UK UK US Note: Claro current professionals served these clients while employed at other firms 12
    • www.theclarogroup.com 13