Douglas served as Chapter 11 trustee for the debtor, and other team members were hired as Tulsi Lodging, LLC’s financial advisors. 

Responsibilities included:

• Analyzing the company’s cash position and needs
• Providing technical and analytical support regarding the financial performance from hotel operations
• Providing support in connection with the reconciliation and collection of pre- and post-petition accounts receivable
• Preparing operating reports and financial statements
• Providing a cash management system to control cash deposits
• Analyzing reservation systems regarding various rates and process
• Analyzing and preparing employee payroll information

The team also initiated a process to facilitate obtaining the highest offer in the sale of the property. Post-closing activities included the coordination of transferring accounts, closing accounts, reconciliation of cash balances and deposits, and allocation of pre-paid expenses for the post-closing settlement process with the new owner.

Note: This work was performed prior to joining Stout.