Verdolino & Lowey, P.C. (“V&L” or the “Firm”) is organized as a business consulting and accounting firm with over forty employees. The Firm is practiced in all facets of businesses in financial distress and/or bankruptcy. We provide a full range of services tailored to pursue a course of action that will meet a client’s distinct needs and protect their interests, in a cost effective and efficient manner, while maximizing recoveries for all parties. The Firm’s objective is to extend the value of the business assets and to tactically resolve all outstanding financial issues and obligations. Our consulting, Wind-Down/D&O and advisory services, as well as complete back office support, are intended to navigate through the business and financial issues facing a company during its closure or reorganization, to provide pre-bankruptcy consulting and analysis services, to maximize assets, limit liabilities and exposure to potential risks, reconcile claims, implement strategic tax-planning and compliance, and effectively handle all the various issues that may sometimes require years to fully resolve.
In providing such services, Verdolino & Lowey and its principals have been appointed in numerous fiduciary roles acting as: Post Effective Date Fiduciaries, Chapter 11 Trustees, Assignees, Examiners, Liquidating Agents, and Disbursing Agents. Accountants to the Committee, State and Federal Court Receivers, Transition and Wind-Down Consultants, and Officers and Directors, In addition, we have been appointed as the Accountants and Financial Advisors and provided Litigation Support to numerous other professionals acting in these same roles. We have been involved in thousands of cases in and out of bankruptcy, including over 500 Chapter 11 operating and/or liquidating cases in over 30 years working with companies in financial distress or bankruptcy.
V&L is a diverse “all-inclusive” turn-key operation, possessing extensive and high-level fiduciary experience, an advanced accounting staff, and seamless back-office operations, as well as exceptional business-advisory and cash management services. V&L is routinely engaged to perform all administrative functions necessary for each unique matter, including but not limited to, bookkeeping and accounting; all tax planning and required filings, compliance and reporting as necessary; reviewing and approving for payment all applications for administrative expenses; termination of employees and benefit programs and subsequent statutory reporting; and preparation of monthly, quarterly and year-end operating reports. Our distinct staff positions us for an immediate response to all our client’s specific needs and projects and allows us to provide a valuable level of service at reasonable rates. The Firm’s objective at all times is to extend the value of the business assets and to tactically resolve all outstanding financial issues and obligations. We specialize in the management and evaluation of paper documents and their electronic equivalents, typically involving the identification, collection, preservation, review and analysis of these records.
In the past, V&L has provided the above-described services in the following select cases:
Anesthesia Associates of Massachusetts, P.C. – A principal of the Firm was appointed as the President and Sole Remaining Director of the Company and its affiliated entities, with the anticipated result being the full implementation of the Company wind-down. Such services include and are not limited to: noticing of vendors, negotiating settlements and winding-down of contracts, employee credentialing follow-up, distributions to equity stakeholders, managing cash flow; preparing budgets; collection of accounts receivable; claims analysis and reconciliation; monitoring the mail for issues that might be of importance to former Responsible Parties, Officers, Directors and Shareholders; maximizing the value of the business assets; limiting liabilities and exposure to potential risks and assistance with any other fiduciary issues that may arise. The engagement is ongoing.
Aptinyx, Inc. – Aptinyx was a public clinical stage biopharmaceutical company focused on the development of treatments for the brain and nervous system. A principal of the Firm was appointed as the sole remaining officer and director of the company to effectuate the complete wind-down and dissolution of the company. The engagement involved the backup of all company records, the sale of assets, termination of benefits plans including the 401(k) Plan, general back-office services, close out of clinical studies, resolution of AP and AR; budgeting, assisting with SEC filings, filing of wind-down and dissolution paperwork, conducting shareholder meeting, and such other duties that have become necessary. The engagement is ongoing.
Becker College – The Firm was initially retained to review various financial reports and the current budget to ensure there was sufficient cash flow to allow the school to continue to operate beyond the school year. Once this work was complete, the Board voted to discontinue its operation. Thereafter, V&L worked with the Administration to help prepare a wind-down plan and associated budget. Mr. Lowey was later appointed to act as President to effectuate the wind down and sale of the college assets, and to administer and perform Trustee services in connection with a Creditors Trust. The engagement is ongoing.
BG Medicine – A Firm Principal is the sole remaining officer of this public company, which engages in the development and commercialization of diagnostic products used to guide patients suffering from heart failure and related disorders in the United States. The company offers the BGM Galectin-3 Test, an in vitro diagnostic device. V&L maintains patents and IP and operates the Company under numerous licensing and operating agreements with US and foreign entities, while adhering to FDA regulations and requirements. The engagement is ongoing.
Meenta, Inc. is a company working to improve access to diagnostic testing. They also have a line of products ranging from Covid 19 test kits to athlete biomarkers and blood test kits. Verdolino & Lowey has been retained to wind the company down, dispose of its inventory (and potentially sell the business IP) and work with its creditors.
Broadstone Group, LLC – Retained by client to administer multiple contracts that it had with the government of Azerbaijan, to assist in the successful delivery of the inaugural 2015 European Games and 2017 Islamic Solidarity Games. The Firm’s responsibilities included human resources, payroll, accounting, financial reporting and liaise with government officials. The projects lasted over 4 years and included the retention of over 500 international staff and administration of more than $100 million in contract funding. The Firm was further appointed to work on multiple matters with the NFL involving games in Mexico and England and in Miami for Super Bowl LIV. V&L continues to provide back-office accounting and administrative services to this client related to other international and large-scale sporting events including the 6 Olympic Games and the 2026 FIFA World Cup.
Brookstone Holdings Corp., et al. – United States Bankruptcy Court, District of Delaware, Chapter 11, Case No. 14-10752 – Verdolino & Lowey, P.C. was employed by the Chapter 11 Oversight Board in July 2014, as the Distribution Trustee of the Distribution Trust. The Firm administers the Distribution Trust pursuant to the terms of the Debtors’ Second Modified Joint Chapter 11 Plan of Reorganization, the Court Orders and the Distribution Trust Agreement.
Buckingham Oil – Chapter 11 bankruptcy matter, Buckingham Oil Interests owned more than 300 oil and gas wells on 100 prospects in 11 different states, including Texas, Louisiana, Mississippi, and Colorado. V&L was retained as the Financial Advisor to the Chapter 11 Trustee and provided such services as: Preparation and assembly of bankruptcy schedules and statement of financial affairs, including financial data collection, compilation, and executory contract review; records retention; UST required reporting; budgets and cash projections; plan development; preparation of federal and state tax returns; preference analysis and claims administration.
Corinthian Distribution Trust – Corinthian Colleges, Inc. (“CCI”) – was a large for-profit post-secondary education company in North America. Its subsidiaries offered career-oriented diploma and degree programs in health care, business, criminal justice, transportation technology and maintenance, construction trades, and information technology. CCI filed for Chapter 11 in the United States Bankruptcy Court, District of Delaware, on May 4, 2015, and subsequently on August 28, 2015, the Court confirmed the Debtors’ Third Amended and Modified Combined Disclosure Statement and Chapter 11 Plan of Liquidation. In accordance with the Plan, the Corinthian Distribution Trust was established, and Verdolino & Lowey P.C. was appointed as Trustee and Financial Advisors to pursue the Retained Causes of Action where appropriate; as well as to oversee the administration, protection, preservation and liquidation of the Aggregate Trust Assets and to distribute the proceeds therefrom to the Trust beneficiaries, in an expeditious and orderly manner. The engagement involves strategic tax planning to align tax regulations and obligations as closely as possible with the planned vision for the Trust; monthly reporting; preparation of budgets; Trust management; and claims administration.
CompuCyte Corporation –The Firm was retained to provide consultation and fiduciary services in connection with the complete wind-down of this company, known for its core technology of laser based live cell analysis. Services include interaction with creditors and equity holders; claims review, reconciliation and negotiations; distributions to creditors; termination or administration of remaining agreements; assistance with records and record retention including paper and servers; tax preparation; assistance with obligatory insurance issues; and termination of employee benefit plans.
Dascena, Inc.- A principal of the firm was appointed to the Board of Directors of Dascena, Inc. (“Dascena”), a Houston, TX based state of the art Laboratory capable of high-volume specialized testing. Dascena’s membership interests in Dascena Labs were sold, and Keith Lowey and the V&L team are overseeing the transition from the sale, as well as managing the wind-down of Dascena and processing periodic distributions.
Dendreon Corporation – Chapter 11 bankruptcy matter, District of Delaware, of a public company. The Firm was initially retained as a Wind-Down Consultant to advise the Debtors and their professionals prior to the Plan Effective Date and review records, Post-Confirmation Budgets, and assist with the Effective Date Distribution. On the Effective Date V&L was appointed as Plan Administrator, and later became the Liquidating Trustee. The Plan Administrator reviewed and worked with counsel to object to claims where necessary. The Plan Administrator distributed $473,000,000 in cash and stock to Allowed Claimants totaling approximately $644,000,000. The Plan Administrator expects to make a second and Final Distribution of approximately $12,000,000 in the coming months. The Plan Administrator assisted in the preparing and filing of multiple tax returns to report activity for 2 years including the sale of the Debtors’ assets for approximately $495,000,000.
FB LIQUIDATION COMPANY (F.K.A FREEBIRD, INC.) – FB Liquidation Company (f.k.a Freebird, Inc.), a Delaware corporation entered into an APA, pursuant to which the Company sold, transferred, conveyed, and assigned substantially all of the assets of the Company. A principal of the Firm was appointed as the sole remaining officer and director of the Company, with full authority and discretion to take such actions necessary to effectuate the liquidation and complete wind-down of the Company’s business affairs including shareholder distributions. The engagement is ongoing.
F-Squared Investment Management LLC, Chapter 11, District of Delaware, F– Squared and its affiliated companies, formerly investment advisors and mutual-fund distributors, filed for bankruptcy in the District of Delaware approximately seven months after they entered into a settlement agreement with the Securities and Exchange Commission and agreeing to pay $35 million to settle charges for defrauding investors by falsifying the performance of its fund indexes. Pursuant to the confirmed bankruptcy plan, a liquidating trust was formed, and V&L was named as liquidating trustee to reconcile and allow claims and prosecute and settle causes of action belonging to the debtors for distribution to the trust’s beneficiaries. The engagement is ongoing.
Genetic diagnostic laboratory – V&L was appointed to be the sole officers and directors of a Boston area genetics laboratory that was forced to close its operations on an expedited basis. Duties included managing the laboratory and winding down its operations and staff as testing was completed. In his capacity V&L worked successfully with a large Boston teaching hospital, held a public auction and sold the business to an unrelated third party. The engagement is ongoing.
Greensill Capital Inc.- United States Bankruptcy Court, Southern District of New York, Chapter 11, Case No. 21-10561-mew – The above-named Debtor filed for relief under Chapter 11 in the United States Bankruptcy Court on March 25, 2021. Subsequently on October 29, 2021, the Court confirmed the Debtor’s Modified Second Amended Chapter 11 Plan of Liquidation. In accordance with the Plan, the Greensill US Liquidation Trust (the “Trust”) was formed, and A principal of the Firm (the “Liquidation Trustee”) of Verdolino & Lowey, PC was appointed as Trustee. The Firm is currently performing accounting services, budgeting, claims analysis, forensic review of financials, insolvency analysis, and litigation support involving numerous causes of action. The engagement is ongoing.
Intralign Health, LLC – Along with its four subsidiaries and six contractual affiliates, this Company entered into a voluntary liquidation and a Firm principal was named as its sole manager. Intralign was a health care provider which operated in 17 states and the District of Columbia and provided an integrated suite of services to the medical community. Responsibilities include closing and liquidating the offices and practices, collecting all funds, and resolving litigation and creditor claims. The engagement is ongoing.
K’Nex Limited Partnership Group, L.P. – A principal of the Firm was appointed as Trustee/Assignee of all of the United States and Canadian assets of K’Nex, a fabricator of a construction toy system consisting of interlocking plastic rods, connectors, bricks, gears and wheels that can be used to create countless shapes and angles allowing for the assembling of machines and structures including simulated roller coasters and buildings, The appointment is subject to the jurisdiction of the Chancery Court of the State of Delaware as an assignment for the benefit of creditors. The company had a wholly owned subsidiary Canadian subsidiary. The Company was a major creditor of Toys R Us, and duties include overseeing the United States and Canadian bankruptcies and management of the claim process.
MedOptions Services, Inc. – This company provided mental heath services to various organizations and long-term health care facilities. A principal of the Firm was appointed as the sole Director and Officer to effectuate the wind-down of the practice’s business affairs. Services included all back-office work, close out of employee benefit plans and termination of staff; close out of accounts with payers, patients, and vendors as well as inventory and retention of all records.
Melrose Associate Limited Partnership – A principal of the Firm was appointed as the Receiver to conclude the accounting and liquidation of the partnership, as ordered by the trial judge, in accordance with a Partnership Agreement. The Receiver performed an accounting of all assets and liabilities of the Partnership. Other duties included the leasing, management and appraisal of a 72-acre site, containing industrial buildings occupied by a manufacturing tenant.
Mitralign Inc. developed and manufactured medical devices, including its namesake technology, the Mitral Valve and treatment. In January of 2019, a firm principal was appointed as the sole remaining Officer and Director of the company. The company patents and all IP were sold and transitioned over to the buyer. The wind-down of this company is near completion.
Oncorus – Oncorus was a public company which developed next generation immunotherapies to stimulate the immune system to fight cancers. Unfortunately, the company was forced to shut down operations, and a firm principal was appointed as the sole officer and director, to effectuate the wind-down and close out the company’s business affairs. Consulting services involve assets sale/IP Auction, negotiations with creditors, records retention and advising on numerous matters. The engagement is ongoing.
Plexus Anesthesia Services of Massachusetts, P.C. – A principal of the Firm was appointed as the President and Sole Remaining Director of the Company with the anticipated result being the full implementation of the Company wind-down. Such services include and not limited to: noticing of vendors, customers, employees and equity stakeholders; managing cash flow; preparing budgets; collection of accounts receivable; claims analysis and reconciliation; monitoring the mail for issues that might be of importance to former Responsible Parties, Officers, Directors and Shareholders; maximizing the value of the business assets; limiting liabilities and exposure to potential risks and assistance with any other fiduciary issues that may arise. The engagement is ongoing.
Princeton Club of New York – The Firm was initially retained to provide fiduciary and consulting services in connection with the wind-down of the Company. The Firm worked with the General Manager and CFO to explore ways to potentially reopen the business and or maximize the value of the remaining company assets, including a building located in New York City. Ultimately, a new owner operator was not identified and the Company was wound down. The engagement is ongoing.
QD Vision. QD Vision was a research and development company specializing in the development of specialty components to increase the screen resolution on both computer screens and HD televisions. The company’s technology was successfully sold to a major manufacturer of televisions. A principal of the was appointed President and Treasurer of this company. The Firm was responsible for the complete wind down of the corporation including managing and liquidating all assets from the Companies laboratories and offices, the sale of all the intellectual property and proprietary assets including foreign patents and licenses, and negotiations with the landlords and secured creditors.
Rubius Therapeutics Inc. – Rubius was a public biotech company developing biologically engineered red blood cells. The engagement involved the backup of all company records, the sale of assets, termination of benefits plans including the 401(k) Plan, running payroll and providing general back-office services, shut down of ongoing clinical studies, resolution of AP and AR; assisting with SEC filings, filing of wind-down and dissolution paperwork, conducting shareholder meeting, and such other duties that have become necessary. The engagement is ongoing.
SeaPort Diagnostic (formerly Orig3n), along with its subsidiary, Telomere Diagnostics, was a company engaged in Covid 19 testing through both its test kits and performing the necessary lab work to capture the results. In addition, SeaPort obtained and stored specific patient cells for advanced testing. The majority of the business was sold in December 2021 and the remainder of its business assets were recently sold. Keith Lowey and members of the V&L staff are the remaining officers of the companies and a principal of the Firm was appointed to the Board of Directors. V&L is assisting with the wind down of the company as well as working with its creditors.
South Shore Anesthesia Associates – A principal of the Firm was appointed as the President and Sole Remaining Director of the Company with the anticipated result being the full implementation of the Practice’s wind-down. Such services include and are not limited to: noticing of vendors, negotiating settlements and winding-down of contracts, employee credentialing follow-up, termination of the 401(k) Plan, year-end statutory reporting, managing cash flow; preparing budgets; collection of accounts receivable; and monitoring the mail for issues that might be of importance to former Responsible Parties, Officers, Directors and Shareholders; limiting liabilities and exposure to potential risks and assistance with any other fiduciary issues that may arise. The engagement is ongoing.
SW US, INC. – A principal of the Firm was appointed as Trustee/Assignee of all of the United States assets of SW US, Inc., doing business world-wide as “Kit & Ace”, a retailer of luxury athletic clothing, the appointment approved and subject to the jurisdiction of the Chancery Court of the State of Delaware as an assignment for the benefit of creditors. The company had 25 stores in 15 states and assets in a distribution center and warehouses in California, Texas and Washington. Duties include overseeing closing of all stores in the United States, working with the landlords, liquidating assets in the United States, filing claims against affiliated in Australia and England. The engagement is ongoing.
An LLC owned by three business titans – was healthcare-focused entity created through a joint venture by American companies. The company explored a wide range of healthcare solutions, as well as piloted new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable. The Company encountered financial distress and could no longer support its operations. A principal of the Firm was appointed Sole Manager to wind down the business affairs. The engagement is ongoing.
Old CPF LLC. – Formerly known as Carolina Pride Foods, a family-run business producing quality pork products including hot dogs, sausages, luncheon meats, ham, and bacon for almost 100 years in the Southeast United States. A principal of the Firm was appointed as Trustee/Assignee of all of the United States assets of Carolina Pride Foods. The appointment is subject to the jurisdiction of the Chancery Court of the State of Delaware as an assignment for the benefit of creditors. Duties include notification of creditors, preparing the appropriate court filings and management of the claim process. The engagement is ongoing.
Vivisource Laboratories, Inc. – V&L was appointed to serve as Chapter 11 examiner by the US Bankruptcy Court, District of Massachusetts. The Firm performed an extensive examination of this contract research organization, focusing primarily on post-petition operations, specifically post-petition liabilities, monthly reporting, and cash-flow projections.
Commonwealth of Massachusetts’ Attorney General and Just Energy, Inc. – Verdolino & Lowey was retained by the Commonwealth of Massachusetts’ Attorney General and Just Energy, Inc. to serve as an independent trustee, and to compute damages and administer disbursements to over 50,000 beneficiaries, in connection with the Trust fund and restitution program, established for the purpose of making restitution to certain customers. The Firm oversees the Trust pursuant to the settlement agreement between the two parties, which was structured to resolve the Commonwealth’s alleged claims against the company. The engagement is ongoing.
Green Mountain College – The Firm was initially retained to review financial reports to ensure there were sufficient funds to allow the school to finish its spring semester and graduate its current senior class. Thereafter, V&L worked with the Administration to help prepare a wind-down plan and associated budget. Mr. Lowey later was appointed to act as President and Chairman of the Board, along with Thomas Bailey and Matthew Flynn, both employees of the Firm, who were appointed as Trustees, to effectuate the wind down and sale of the college assets, and to administer and perform Trustee services in connection with a Creditors Trust. The engagement has fully wrapped up.
Ground Round, Inc. and Affiliates – V&L acted as accountants and financial advisors to the debtor operated or franchised 130 restaurants in 25 states. Worked with professionals to liquidate assets after paying secured creditors over $4,000,000, plus proceeds from sales of remaining liquor licenses and avoidance actions. A principal of the Firm is the Court-appointed, post-confirmation Liquidating Agent. Sold remaining assets, settled claims with hundreds of creditors including 25 states and numerous other local property and meals/sales/use tax authorities and prosecuted avoidance actions with Counsel.
Healthrageous, Inc. – Appointed as Sole Director and Officer of this leading personalized health technology company for the purpose of administering the compete wind-down and close out of this company’s business affairs. The company’s assets, including its revolutionary and leading-edge digital health self-management platform in development, were sold to one of the country’s leading healthcare companies for over $2,500,000. The company technologies were developed in conjunction with a division of Partners Healthcare, Brigham & Women’s Hospital, and Massachusetts General Hospital. The wind-down of the remaining company business affairs is complete.
JACKSON, Curtis James III – A principal of the Firm was appointed as Disbursing Agent by the major creditors supporting the approved Third amended Chapter 11 Plan of Reorganization in this case, to administer periodic distributions of the Funds pursuant to the Plan and in accordance with the Agreement.
MZT Holdings, Inc. (formerly known as Matritech, Inc.) – A principal of the firm was appointed President and Director of this solvent public company. Responsible for the complete wind-down of the corporation including transition to buyer, payment of all debts, termination of employee benefit plans and distribution of funds to shareholders. Approximately $13,000,000 was available for distribution. Worked with Counsel to cease SEC reporting and liquidate all assets in accordance with the approved Liquidating Plan and DE law.
Marlboro College – The Firm was initially retained to develop a wind-down plan and associated budget. This process included doing a review of existing major college contracts, review of historical and current year cash flow activity and review/assess the college’s current staffing levels. Currently, the Firm has acted as a consultant to the College during its transfer of assets to Emerson College and the sale of the campus to a third party. The sale and transfer successfully closed.
MotherNature.com – The Firm was appointed to oversee the orderly liquidation of a publicly traded company that raised over $120,000,000 from investors. Its duties in that case included arranging for a public auction of all hard assets, negotiating the sale terms of the Debtor’s customer list and URL and the processing of three distributions to shareholders.
Modern Continental Construction Corporation – Bankruptcy Court appointed Liquidating Supervisor. Responsible for wind-down of the bankruptcy estate; completing several projects; collecting receivables; overseeing complex litigation; filing tax returns; assessing value and liquidating remaining assets including an investment in another operating company; reporting to the United States Trustee; making distributions and all other duties required to close the case.
Mount Ida College – The Firm was initially retained to assist with an asset sale transaction between a non-profit private College and the University of Massachusetts Amherst. Mr. Lowey was later appointed to act as Chief Transition Officer, to effectuate the transaction, and to administer and perform Trustee services in connection with a Creditors Trust, which was formed pursuant to an Asset Purchase Agreement. The sale successfully closed. The engagement is ongoing, whereby the Firm is completing the wind-down and will later distribute all remaining assets from the Creditors Trust.
New England College of Business– After initially being retained by Curry College to analyze a proposed merger with NECB, the Firm was thereafter engaged by NECB to review certain financial statements and the accounts receivable prior to its purchase by Cambridge College of Cambridge, Massachusetts. The sale successfully closed.
Olympus Healthcare Group, Inc. – As Liquidating Supervisor in this bankruptcy proceeding, the Firm has been responsible for collecting and disbursing over $10 million in cash. The firm reviewed and analyzed nearly 400 claims in the case and was able, through its counsel, to settle all disputed claims without litigation. Claims in the case totaled approximately $50,000,000. The Firm prepared an extensive analysis of potential preferential transactions.
On-Q-ity, Inc. On-Q-ity was an oncology diagnostics company which had successfully developed personalized cancer diagnostics through the isolation of circulating tumor cells. The Firm was responsible for the complete wind down of the corporation including managing and liquidating all assets from the Companies laboratories and offices, the sale of all the intellectual property and proprietary assets including foreign patents and licenses, and negotiations with the landlords and secured creditors.
Qteros, Inc. – A principal of the Firm was appointed President and Treasurer of this biotech company that had discovered an innovative biomass-to-ethanol conversion process using proprietary science and microbiology in partnership with the University of Massachusetts Amherst. The Firm was responsible for the complete wind down of the corporation including managing and liquidating all assets from the Companies laboratories and offices, sale of all the intellectual property and proprietary assets including foreign patents and licenses, and negotiations with the landlords and secured creditors.
Reed and Barton Corporation – Chapter 11 bankruptcy matter – This Company was a prominent American silversmith manufacturer and one of the nation’s foremost designers and distributors of high quality silverware and tableware, along with flatware, crystal drinkware, picture frames, ornaments, and baby giftware. V&L was retained by the Debtor as accountants and financial advisor. V&L provided such services as: Preparation and assembly of bankruptcy schedules and statement of financial affairs, including financial data collection, compilation, and executory contract review; records retention; UST required reporting; budgets and cash projections; plan development; preparation of federal and state tax returns; and assisted in the sale evaluation consulting with the Debtor’s management, investment banker and Committee Financial Advisor to evaluate competing bids to select the highest and best bid to be presented at the final sale hearing regarding sale of substantially all of Debtor’s non-real estate assets, as well assisting in reconciling post-closing sale issues.
RNI Wind Down Corporation – A principal of the Firm was the Court appointed Plan Administrator of a public company. Total cash turned over to the Plan Administrator exceeded $280,000,000. Total creditor claims in the case were approximately $100,000,000, which are being paid in full, with interest where applicable. The Firm is winding down numerous foreign non-Debtor subsidiaries, settling numerous claims objections and other litigation and expects to pay equity holders approximately $180,000,000 over time.
Rural Metro – Chapter 11 Bankruptcy Matter – This Company was a national leader in private ambulance and fire protection services coast to coast. A principal of the Firm was appointed as Creditor Representative and Trustee of the Litigation Trust pursuant to the Chapter 11 Plan of Reorganization, to administer the Creditor Fund, resolve claims, provide litigation support, and liquidate Litigation Trust assets.
Seaside Therapeutics, Inc. – The Firm was retained to provide advice and consultation in connection with the financial affairs and complete wind-down of this company, which developed drugs and technology geared towards correcting and improving the course of single-gene disorders as well as treatments to address the underlying causes. The wind-down and liquidation is on-going.
ServiSense.com – Liquidating Supervisor in this telecommunications bankruptcy. V&L successfully met the challenges posed by a company that conducted business in 48 states. Not only were withdrawal papers filed in each state, income and sales and use tax requirements were thoroughly researched to ensure that all of the Debtor’s returns were properly filed. The firm prepared and filed over two-thousand sales and use and telecommunication tax returns in this case alone.