Company Advisory
Chapter 11 bankruptcy is a court-supervised process that affords debtors a series of statutory protections, remedies, and options that are not available out-of-court, and which calls upon a financial advisor to bring competence in a unique and complex mix of finance, operations, strategy, and law. Having advised debtors in numerous bankruptcies, we understand what is required to effectively shepherd a company through Chapter 11 bankruptcy and position it for growth and profitability upon emergence. We work closely with attorneys, investment banks, commercial banks and all other parties-in-interest to ensure a transparent dialogue focused on the rehabilitation of the debtor in possession ("DIP") and the maximization of value for the bankruptcy estate and its stakeholders.
We appreciate that management is often experiencing bankruptcy for the first time and understand the challenges associated with trying to maintain business as usual during a court-driven reorganization. In this respect, Opportune plays a crucial role in managing many of the day-to-day activities and relieving the burdens associated with the bankruptcy process, freeing up management to focus on the sustainment and development of their business.
As financial advisors to debtors, our services include:
Pre-filing & First Day Motions
- Analysis of liquidity needs
- Financial forecasting, including the development of 13-week budgets
- Negotiations with existing stakeholders
- Support in raising debtor in possession (“DIP”) facilities
- Collateral reviews
- Hedge position analysis
- First day testimony/defense of DIP loan proposal
- Support in the preparation of “first day” filings and schedules
- Expert testimony
Case Administration & Plan Development
- Financial reporting and covenant compliance during bankruptcy and on emergence
- Preparation of statements and schedules
- Complex contract analysis, including assumptions and rejections
- Business case development
- Ongoing cash flow forecasting
- Cost structure and footprint review
- Vendor management
- Enterprise valuations
- Analysis of complex legal organizational structures
- Structuring and preservation of tax attributes (e.g., NOLs, credits)
- Assistance in lien analyses
- Development of reorganization plans
- Feasibility and debt capacity analyses
- Support strategic initiatives and capital raising activities (e.g., §363 sales and rights offerings)
- Establishment and administration of virtual data rooms
- Expert testimony
Interim Management Solutions
- Chief Restructuring Officer
- Chief Financial Officer
- Chief Accounting Officer
- Chief Risk Officer
- Chief Information Officer
- Chief Tax Officer
Process Improvement & Risk Management
- Business process and systems implementation and re-engineering
- Controls design and improvement
- Comprehensive business and commodity risk management
- Performance improvement and benchmarking
Energy-Specific Outsourcing Services
- Outsourcing of land administration
- Outsourcing of revenue and joint interest billing functions
- Outsourcing of overall accounting and reporting functions
