Russell’s notable reorganization advisory experience includes:
- TridentCare: Retained as restructuring advisor to a $500 million mobile diagnostics company prior to and during its Chapter 11 process providing comprehensive services focused on board/executive advisory, liquidity support, business plan development, qui tam settlement, data breach response, KERP/KEIP advisory, and Chapter 11 preparation and administration. The Trident engagement team was awarded with the 2019 Healthcare Restructuring of the Year (over $500 million) by the M&A Advisor.
- Confidential Dental Lab Manufacturer: Retained as a restructruing advisor to a nation-wide network of laboratories, assisting with liquidity management, network optimization, business plan development, and service-line profitability.
- Senior Quality Lifestyles Corporation (SQLC): Retained as restructuring advisor to four highly-distressed CCRC communities with over $600 million of municipal bond debt, assisting with liquidity management, business plan development, strategic alternative evaluation, and stakeholder negotiations.
- Signature HealthCARE: Retained as restructuring advisor to a $1.1 billion skilled nursing operator providing a broad spectrum of restructuring services, including business plan development and stakeholder negotiation resulting in a consensual global out-of-court restructuring. The Signature engagement team was awarded with the 2018 Healthcare Restructuring of the Year (over $500 million) by the M&A Advisor.
- Verity Health System: 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.
- Virginia United Methodist Homes of Williamsburg Inc., Franciscan Communities St. Mary of the Woods, and The Clare at Water Tower: Retained as restructuring advisor to three separate CCRC communities prior to and during each respective 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.
- 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 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.