Restructuring

Stout professionals provide the full spectrum of restructuring and bankruptcy services. Our services include special situations investment banking, operational restructuring, bankruptcy advisory, and interim management services. Our engagements are typically staffed with multidisciplinary teams of senior professionals with expertise across the full range of relevant restructuring services, in addition to investment banking industry specialists, where appropriate. We aim to maximize successful outcomes for our clients by taking a pragmatic approach, combining practical experience and creative strategies that address the nuances of each case.

Special Situations – Investment Banking Services

Stout provides customized special situations solutions tailored to meet the needs of middle market clients facing inflection points, from capital structure issues to other liquidity/financial matters. Our services address the full range of issues that may cause financial distress:

  • Negotiating waivers, modifications, and amendments to credit agreements 
  • Developing and executing capital markets solutions
  • Divesting noncore assets to fund the business and/or facilitate a deleveraging
  • Developing and executing comprehensive deleveraging transactions
  • Selling the distressed company, to the extent such a transaction maximizes value

Turnaround Operational Expertise

Stout’s restructuring experts provide guidance and strategic assistance in crafting a successful turnaround plan. Our professionals serve in both advisory and interim management roles, including chief restructuring officers and interim chief financial officers. Our services include:

  • Preparation and review of short- and long-term financial projections
  • Development of recovery plans
  • Performance improvement
  • Evaluation of assets and liabilities
  • Assessment and monitoring of borrowing-base reports
  • Guidance on cash management processes and controls
  • Transaction-feasibility analyses

Bankruptcy Proceedings 

For situations in which bankruptcy is an appropriate tool or the company has already filed for relief, Stout professionals provide an array of bankruptcy-specific services to our clients. We regularly serve as financial advisors and as interim management during court proceedings. Our services include: 

  • Development of solutions to address cash shortfalls 
  • Development, negotiation, and execution of plans of reorganization
  • Negotiations with secured and unsecured creditors
  • Analysis of collateral value or equity cushion to address adequate protection issues
  • Cram-Down/Fair and Equitable Analysis, Feasibility Analysis, and Lease Rejection Analysis 

Fiduciary Services

Stout experts have been employed as court-appointed trustees, receivers, plan administrators, and liquidating agents, and have also served in other fiduciary capacities. Our overriding goal as fiduciaries is to act independently while we marshal funds and maximize the return on the debtor or estate’s assets and business interests. As fiduciaries, we are often charged with:

  • Assessing the value of assets and developing monetization plans
  • Pursuing litigation/causes of action and recovery activities 
  • Arranging for distributions and preparing financial/tax information for the estate
  • Winding down business affairs
  • Investigating actions of prior management and asset transfers

Forensic and Litigation Services

Stout professionals are also often retained by a court-appointed trustee to execute specific tasks, such as handling forensic accounting services or providing litigation-support services. As part of the bankruptcy process, we are often called on to deliver litigation-related assistance, such as:

  • Analysis of transfers in support or defense of fraudulent conveyance actions
  • Preference analysis 
  • Preparation of fairness and solvency opinions
  • Expert witness services

Who We Serve

  • Companies/debtors
  • Lenders
  • Unsecured creditors
  • Third-party investors (such as acquirers, new money investors)
  • Corporate management
  • Government entities 
  • Law firms