|
|
|
|
Based in Houston, Texas, Century Care of America owned five skilled
nursing and long term health facilities throughout Texas. The
company provided healthcare services primarily through third-party
administration of skilled nursing services under Medicare and
long-term care services under Medicaid. Chiron Financial Advisors, L.L.C. was retained by
the official committee of unsecured creditors to evaluate the
company's operations and financial condition and to evaluate and
develop alternatives to the company's proposed plan of reorganization.
The unsecured creditors achieved a significant recovery over the
initial plan of reorganization which was filed early in the case.
|
|
|
|
|
|
Compass Bank was a construction loan lender to a Houston-based
homebuilder. The homebuilder
was involved in major litigation
which ultimately resulted
in a judgment against the
homebuilder, which sought
protection under a Chapter
11bankruptcy filing to
reorganize its business.
Compass Bank was willing
to provide debtor-in-possession
financing to complete the
projects. The judgment
creditor had objected to
such financing. Chiron Financial Advisors, L.L.C.
was hired by the lender
to provide expert testimony relative to valuation
of assets increasing by
allowing DIP financing.
Subsequently, the projects
were completed and sold,
and more value was realized
by the estate.
|
|
|
|
|
|
Doctors' Hospital is a 229-bed Houston hospital and 50,000-square-foot
medical office building serving the indigent and working-poor
population. The company receives more than 75% of its revenues
from government-based insurance programs. In 2003, the company
began experiencing declining admissions and a shift from Medicare
to Medicaid managed care. The declining admissions coupled with
reduced cash flow and a $40 million debt load forced the company
to seek reorganization in Chapter 11bankruptcy protection. Chiron Financial Advisors, L.L.C.
was engaged as the investment bank to the official unsecured committee
and successful in facilitating a reorganization.
|
|
|
|
|
|
Marshall Ranch is a golf course-anchored master-planned community
located on the north side
of Lake Travis, Texas.
As initially conceived,
the master plan for Marshall
Ranch included 208 estate-acreage
home sites on 1,400 acres.
Chiron Financial Advisors, L.L.C. was engaged
by an investor group to
assist it in acquiring
the senior secured indebtedness
of all partnerships in
bankruptcy, advise it through the bankruptcy process
and propose a plan of reorganization.
Chiron Financial Advisors, L.L.C.'s client was subsequently
out-bid in the auction
process.
|
|
|
|
|
Renata Resort, LLC is a Florida-based company established to
erect a 23-story high-rise
condominium in Panama City
Beach. The company was
facing financial distress
and Chiron Financial Advisors, L.L.C. was hired as
the exclusive financial
advisor. Chiron Financial Advisors, L.L.C. was successful
in arranging a debtor-in-possession
facility to allow
sufficient time to conduct
an auction to
sell the Company, maximizing
value to the estate.
|
|
|
|
|
Switzer Petroleum Products, Inc. owned and operated a chain of
retail convenience stores and gas stations throughout the Dallas/Fort
Worth Metroplex. In addition, the company provided wholesale fuel
distribution services to both company-owned and/or leased facilities
throughout the area. Chiron Financial Advisors, L.L.C. was retained
by the official committee of unsecured creditors to provide a
range of financial advisory services. These services included
broad valuation of the company's principal assets, including real
estate and evaluation of Switzer's reorganization proposals.
|
|
|
|
|