Our staff comprises lawyers, accountants, managers and investigators who are experienced with the problems faced by the reorganizing or liquidating company. Invotex Group has acted as accountants and financial consultants to creditors’ committees, United States Bankruptcy Trustees and debtors. These efforts have included successful reorganizations of a variety of entities and the recovery of millions of dollars through preference and other actions for the benefit of creditors. Examples of our reorganization experience are as follows:
- When one of the largest telemarketing enterprises in the country filed for Chapter 11 bankruptcy protection, Invotex Group was hired by the court-appointed trustee to serve as accountants and financial advisors during the reorganization. Acting as COO and CFO, we were responsible for on-site management of the troubled company, supervising employees, administering payroll and accounts receivable and payable operations. Additionally, we provided consulting and accounting services for the trustee, assisting in the marshalling of assets and liabilities, preparing bankruptcy schedules and performing preference and insolvency analyses in pursuit of avoidance actions.
- Invotex Group is familiar with the intricacies associated with bankruptcies pertaining to holding companies and their related entities, including insurance holding companies. We have experience working in multi-state environments and across companies, marshalling assets, securing and investigating books and records, preparing schedules and monthly reports, performing avoidance analysis and the pursuit of actions. Additionally, we are frequently called upon to provide expert witness testimony and litigation support services in conjunction with these cases.
- Invotex Group is also experienced in providing very specific assistance in administering bankruptcy cases. In one example, we worked with the debtor in possession of a construction-related company and their attorneys to conduct liquidation and comparative analyses of the company’s financial condition in support of preparing a plan of reorganization. The plan has subsequently been filed and is awaiting acceptance.
Invotex additionally has extensive receivership experience. |
