Serving as trustee and providing dispute advisory support for resort operator​

Picture this...

You’re a developer and operator of vacation ownership resorts and developed/undeveloped real estate properties, as well as a provider of consumer financing for leisure real estate purchases through your wholly-owned subsidiary. But you’re in trouble in a host of ways: You’re facing working capital and liquidity issues, recent loan defaults, delinquent consumer notes, title problems in your land sales division, a NASDAQ de-listing, and difficulties securing long-term financing. You have no choice but to file Chapter 11 to help preserve your assets and protect the interests of key constituencies, and as part of the reorganization filing, you hope to secure Debtor-in-Possession financing. What’s more, two days after your filing, your President/CEO and Chairman of the Board both resign. You need support. ​

You turn to Accordion.

We step in to serve as the Chapter 11 trustee (and subsequent Chapter 7 trustee), as well as financial advisors. In this role, we:​

• Manage a structured liquidation of your properties and assets, allowing homeowners to continue to use the resorts without interruption during the sale process.​
• Facilitate the sale of your eight resorts, associated mortgage receivables, golf course, and numerous land parcels.​
• Market, negotiate, and close transactions.​
• Provide litigation support and dispute advisory services, including the investigation of various adversary actions such as litigation against two former members of your Board of Directors, your former auditor, and former outside counsel. ​

Your value is enhanced.

You successfully retain the value of assets through marketing, negotiating, and selling properties and assets exceeding $100M. Additionally, through the investigation and litigation of adversary actions, you secure another $7M in settlements. ​