Originally posted in ABFJournal | Written by Robert DiNozzi, Kevin McGarry, Entela Semini and Aaron Todrin Article 9 of the Uniform Commercial Code is a transactional tool that allows asset-based lenders to bolster business development and mitigate risk and/or loss. It is a holistic and pragmatic out-of-court reorganization approach for extracting value from distressed businesses. An Article 9 reorganization…
Originally published on ABL Advisor on October 2, 2024 The story of Heavy Duty Radiator (now JMP Industries) is one of resilience, turnaround and reinvention. It is a story that was made possible through an Article 9 Restructuring, creative financing solutions, and a hands-on approach with critical contractors. Once on the brink of failure and liquidation, Heavy…
The story of Heavy Duty Radiator (now JMP Industries) is one of resilience, turnaround and reinvention. It is a story that was made possible through an Article 9 Restructuring, creative financing solutions, and a hands-on approach with critical contractors. Once on the brink of failure and liquidation, Heavy Duty Radiator was able to shed its…
Originally posted in ABFJournal | Written by Robert DiNozzi, Chief Growth Officer, Second Wind Consultants Handaband USA was a thriving business in the oil and gas market in Texas until unpredictable fuel prices made it difficult to sustain its growth. This is the story of how its previous lender (Crestmark), an Article 9 reorganization, its current owner…
Originally posted in ABFJournal | Written by Robert DiNozzi, Chief Growth Officer, Second Wind Consultants For decades, private equity investors have taken distressed assets through a process to divorce them from subordinate liens. An analogous, lender-initiated process (the UCC Article 9 reorganization) clears up the traditional bottleneck in bank-to-ABL transitions, ultimately leading to the next evolution of the take-out relationship….
Originally published in ABF Journal. Second Wind Consultants facilitated Logan Fund’s purchase of a distressed note at $2 million par from BOK Financial. BOK Financial will exit from a lending relationship with a printed circuit board assembly company that has 60 employees. Second Wind Consultants reorganized the printed circuit board assembly company’s business through a UCC Article 9…
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