Russell’s notable reorganization advisory experience includes:
- Leading a restructuring advisory team providing chief restructuring officer services to a $1.1 billion skilled nursing facility operator currently pursuing an out-of-court restructuring solution.
- Retained as restructuring advisor of a $1.3 billion integrated healthcare system in preparation for a potential Chapter 11 filing, which was ultimately avoided via a $100 million private equity cash infusion and debt restructuring, and then retained as interim vice president and treasurer and restructuring advisor to help management navigate the post-transaction operational and financial transformation.
- Engaged by a publicly traded hospital company to provide restructuring advisory and bankruptcy preparation services, with a focus on cash management, liquidity monitoring and reporting, and debtor-in-possession financial negotiations.
- Led on-site restructuring advisory services for CCRCs Virginia United Methodist Homes of Williamsburg Inc., Franciscan Communities St. Mary of the Woods, and The Clare at Water Tower, prior to and during each company’s Chapter 11 restructuring; focused on cash flow development and reporting, M&A support, financial modeling, and assisting the debtors’ legal counsel in administering all financial and reporting requirements of the Chapter 11 process.
- Led onsite CRO advisory services to a physician-owned specialty hospital in the southwest, serving as liaison with the senior lending group and advising the board on a workout/restructuring strategy.
- Forum Health: Retained by the board of directors to construct a fully integrated three-statement projection model, with emphasis on short-term liquidity needs such as pension payments, corresponding pension contributions, and upcoming debt obligations. Projections facilitated ultimate restructuring of the system.
- Dune Energy: Served as financial advisor to a $50 million Gulf Coast-focused exploration and development company to analyze and evaluate reorganization alternatives and to prepare a weekly cash flow budget. The Dune engagement team was awarded with the Energy & Services Restructuring of the Year – 2016 Atlas Turnaround Awards.
- Brookstone Inc.: Retained by the board of directors to assist a $500 million retailer with mergers and acquisitions due diligence and support, cash management, financial modeling, bankruptcy administration, and lender/bondholder negotiation support.
- Velti Inc.: Retained by the board of directors to assist a $150 million international mobile marketing technology company through its UK/US/India private equity transaction by providing cash flow/liquidity management, financial projections, M&A due diligence and support, and working capital considerations across 20 countries and five business lines. The Velti engagement team was awarded with the 2014 Restructuring Deal of the Year (under $1 billion) – M&A Advisor.
Russell’s other significant engagements include a $500 million multihospital healthcare system in Chapter 11, revisionary interest holders of a $300 million healthcare system in Chapter 11, a $150 million international mobile advertising company in Chapter 11, a $20 million hotel portfolio in Chapter 11, a $35 million media broadcasting company, a $25 million continuing care retirement community, an $85 million linen and garment rental business, and a $30 million continuing medical education company.
Russell was the recipient of The M&A Advisor’s 2016 40 Under 40 Emerging Leaders Award. He holds the Chartered Financial Analyst® (CFA) and Certified Insolvency & Restructuring Advisor (CIRA) designations, as well as inactive NASD licenses 7, 65, and 63. Russell has also provided advisory services to clients across energy (exploration and production) and materials, retail, technology, hospitality, media, real estate, and has extensive Till cram down interest rate expert witness experience.