Bankruptcy Advisory and Litigation Services

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Strategic and Advisory Support Across the Bankruptcy Lifecycle

BDO’s professionals support businesses and their legal counsel through every phase of a bankruptcy process. For a debtor, we assist with the preparation for the bankruptcy filing, the preparation of court-required financial documentation and reporting, and support you through all financial aspects of the bankruptcy process.  For a creditors committee, we assist in determining the best alternatives and strategies available to creditors and in helping to maximize value for creditors.

BDO provides forensic and litigation services through all phases of bankruptcy-related litigation matters, from discovery to expert reports and trial.  We work with you and your legal team in bankruptcy litigation matters to help define the best path forward, with an eye to cost-effective, efficient resolution. Our professionals can help determine if positions are defensible, test theories, evaluate strategies, quantify damages — and we can anticipate and critique opposing arguments.

Capabilities

BDO provides a full range of financial advisory services for debtors, including:
  • Pre-bankruptcy planning, including first-day motion support; creditor identification and development of creditor matrices; identification of immediate financial needs to be part of the first day motions, and more.
  • Assistance with the preparation of 13-week or longer cash flow forecasts, Statements of Financial Affairs (SOFA), Schedules of Assets and Liabilities (SOAL), Monthly Operating Reports, Liquidation Analysis supporting the Plan, financial projections supporting business plans and any other required financial analysis.
  • Review of insider and intercompany transactions, debt restructuring or exit financing options; advice on exit strategies; assistance with disclosure statement preparation and turnaround plan development; assessment of business plan feasibility; viability of ongoing operations evaluation; and assistance with negotiations between the debtor, lenders and creditors.
  • Claims reconciliation, including matching proofs of claim to scheduled liabilities, reviewing and reconciling Proof of Claims to determine claims to be objected to, and analysis and preparation of support for claim objections. 
  • Distribution and creditor recovery services, calculation of distributions to creditors, and related creditor communications.
  • Bankruptcy accounting and reporting, including reorganization and fresh-start accounting analysis, and more.

BDO can also act as financial advisor to Official Committees of Unsecured Creditors, and as advisors to Trustees in bankruptcy (Chapter 11 or Chapter 7). In these roles, we support unsecured creditors and ensure they have a voice in the bankruptcy case, working closely with counsel to determine the reasonableness of proposed transactions and the financial information provided to support the need and appropriateness of those transactions, analyze proposed Debtor actions, including sales of assets and/or proposed restructuring plans, assist counsel in preparing objections to motions not in the best interest of creditors, participate in settlement negotiations to resolve disputed issues, as well as attend auctions (if any) and court hearings, where testimony might be needed. BDO’s primary goal when representing creditors is to assist in determining the best alternatives and strategies available to creditors and to maximize value for creditors.

We perform forensic investigations and provide a full suite of financial advisory services to any party involved in bankruptcy-related litigation, including matters such as fraudulent transfers, preferential transfers, claims against directors/officers and others. BDO’s professionals can also provide expert testimony related to solvency of the debtor, improvement in position for financial institutions, reasonably equivalent value, as well as in matters such as the reasonableness of key employee incentive plans, best interest of creditors test, plan feasibility, substantive consolidation and claim-related disputes. 

BDO'S Preference Model

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Highly advanced analytics 
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Efficient
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Turnaround and restructuring services as well as operational value creation services within the United States are offered through BDO Consulting Group, LLC, a separate legal entity and affiliated company of BDO USA, PA, a Virginia professional service corporation. Certain turnaround and restructuring services may not be available to attest clients of BDO USA under the rules and regulations of public accounting. 

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