You turn to Accordion.
With a stalking horse bid at just enough to pay secured lenders in full, we work with you to develop a creative solution resulting in a higher and better bid for the US assets from a consortium of pork producers while incorporating a wind-down of nearly half the hog inventory. Additionally, we:
- Act as financial advisors and interim CEO and CRO.
- Assist with the political and operational complexities of selling Chinese operations/entities through a US Bankruptcy process. Though only one serious bidder emerges, we keep them committed to the transaction and despite numerous re-trades and political maneuvering, ultimately close the sale.
- Spearhead the first-ever sale of the Chinese operations of a US Chapter 11 Debtor to a Chinese company. In less than one year, this sale culminates in a highly successful and orderly liquidation of your total assets.
Your value is enhanced.
Because of the creative solution for a higher bid, there is a robust auction and an increase in your purchase price by $12MM. You successfully go through a §363 sale of the US business. This generates financial and political capital to pay off all secured creditors in full, provides a 100% recovery to unsecured creditors and significant recovery to equity constituencies, and affords time to complete a thorough sale of your Chinese business.