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Michael has over 20 years of business experience successfully advising clients from multiple industries on turnaround and bankruptcy. He specializes in assisting companies through the turnaround process and has represented each of the various constituents including debtors, secured creditors and unsecured creditor committees.
Professional Experience
Representative examples of Michael's engagement experience include:
Managed a team of consultants and participated in negotiations and mediation on the Cimm's Chapter 11 case (involving nine related filings). Represented the debtors (including one of Burger King's largest franchisees) with revenue of over $160 M. Successfully created a plan of reorganization that was ultimately approved by the various creditor constituencies and confirmed by the Bankruptcy Court.
Managed a team of consultants for a subsidiary of a $1 B German-based manufacturer. Successfully created a turnaround plan and out-of-court operational and financial restructuring of the US manufacturing operations. The debtor went from $55 M of cumulative losses (including $5 M in the year prior to our involvement) to positive cash flow and accounting profit in the following year (including one-time restructuring fees associated with the case).
Managed a team of consultants in the review and turnaround of a California-based juice manufacturer. The turnaround was successfully completed on an out-of-court basis with the requirement for minimal funding from the parent company during the process.
Managed a team of consultants engaged to perform a review and create a turnaround plan for two subsidiary entities owned by the Paralyzed Veterans of America. Both entities were examined to determine viability and to assist in the development and implementation of a successful turnaround plan. Responsible for the preparation of the report and presentation at the annual board of directors meeting. Subsequently, the board voted to adopt the team's recommendations contained in the plan of action.
Performed a review for the secured lender group (at the request of the agent bank) of a $4 B manufacturing entity to ensure that the cost reduction strategy identified by the company was appropriate and being adhered to.
Education & Certifications
Bachelor of Arts, University of Western Ontario, Canada
Certified Management Accountant
Certified Turnaround Professional
Certified Insolvency and Restructuring Advisor
Professional Associations
Member, Association of Certified Turnaround Professionals
Member, Association of Insolvency and Restructuring Advisors (Membership Committee and Conference Committee)
Member, Turnaround Management Association (Past president of the Southern California Chapter and current board member)
Member, American Bankruptcy Institute
Planning Committee member, 2008 California Bankruptcy Forum conference
Member, Association for Corporate Growth
Civic Involvement
Founder of the Night of Excellence Charity Networking Event benefiting the City of Hope
Speaking engagements
Speaker at the State Bar Section Education Institute (2006) on the topic "The New Bankruptcy Code, What Every Practitioner Should Know".
Publications
DebtQuity - One Perspective on the Current Blur between Debt and Equity American Bankruptcy Institute's Journal, July/August 2006.
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