At the point in the life of a company when the decision has been made to liquidate it’s assets, things have obviously not gone according to plan and that is no time to introduce additional uncertainty into the situation. Selecting a firm with broad and successful experience in both turnaround management and asset liquidations will help to ensure the best possible outcome.
Harney Management Partners and its team of professionals have executed liquidations from all sides of the transaction – as the lender, the investment banker, the crisis consultant, the business executive and the court-appointed Bankruptcy Trustee and State Court Receiver.
HMP has significant experience in more than 50 engagements involving the liquidation of assets recovering hundreds of millions of dollars for creditors. These sale venues and methods have included:
- Out-of-Court Sales
- Bankruptcy §363 Sales
- Article 9 UCC Sales
- State Court Receiver Sales
- Private Treaty
- Stalking Horse
- Sealed Bids
- Public Auction
A successful liquidation is the product of quick but careful analysis and collaboration with all necessary parties and professionals in order to obtain the maximum net realization on the assets. Whether engaged by the company or a lender, the experience HMP has gained since its inception in 1991 provides the experience, skill sets and professional contacts necessary to make the best out of a less than favorable situation.
Maximizing recovery is more than calling an auctioneer to put sale tags on the collateral. It requires a strategy to develop an analysis of the disposition alternatives, including time lines, cash flow projections and a detailed liquidation plan. Greater value can be obtained by proactively approaching customers, vendors, competitors and other parties which have a higher and more immediate utility for the assets than a pool of generic public auction purchasers. Prompt due diligence, analysis and action are key to a systematic liquidation.