Coastal International

Serving as financial advisor, Force 10 confirmed a plan of reorganization for this provider of trade show installation and dismantling services during the COVID-19 pandemic. The insider provided "new value" in exchange for 100% of the reorganized Debtor's equity.

Force 10 was retained to provide Chapter 11 bankruptcy financial advisory services to this Debtor struggling to pay an $8mm+ litigation judgment. The case proceeded through the pandemic’s beginning when the Debtor’s business reached a standstill. The Debtor’s sole shareholder proposed a New Value Plan whereby he would retain 100% of the equity by paying more than fair market value for the company while providing some recovery for pre-petition creditors, rather than what would have been $0 under a Chapter 7 liquidation. Force 10 also marketed the Debtor’s equity and proved the sole shareholder’s proposal was the highest and best. The Plan of Reorganization was then confirmed.

Team members

Adam Meislik

Chad Kurtz

Jim Miller