Technology

Appointed Sua Sponte as Receiver in Delaware Chancery Court. Then served as Responsible Party through Chapter 11 that raised cash through asset sales, avoided preferences and fraudulent transfers, and settled D&O claims resulting in approximately $5mm gross proceeds.

Financial Advisor to the Debtor. 363 Sale to lender and strategic partner - Gunthy-Renker.

Sold patent portfolio of this non-operating business for Chapter 7 Trustee.

Served as Expert Witness to determine valuation, solvency, and damages. Prevailed over plaintiff's demands and damages position.

Represented Foxconn, the largest claimant and supplier, with respect to the Chapter 11 bankruptcy of Fuhu. Assisted in settling cross-claims and reduced Foxconn's potential exposure.

Provided valuation and sale feasibility testimony that resulted in removing state court Receiver. Then conducted a 363 sale that resulted in ending shareholder dispute, all creditors paid in full, and a return to equity.

Served as CRO and financial advisor to the Debtors. Conducted rapid restructuring resulting in sale and significant return to creditors.

KP3 was placed in an involuntary Chapter 7. Force 10 provided the solvency opinion and expert testimony to demonstrate that the Debtor was indeed solvent. Case was dismissed.

Out-of-court wind down of operations and assets

Force 10 took control of the company's intellectual property and IT infrastructure to preserve for due diligence, discovery, and causes of action.

Sendio was challenged by a legacy cost-structure and weary investors. Without access to liquidity, Sendio required a reorganization via an Assignment of the Benefit of Creditors. As the result of an auction, Sendio was sold to a European-based fund and maintained continuity with employees and customers while significantly reducing its operating costs.

Storcentric, the parent company of enterprise storage solutions such as Nexsan and Retrospect, encountered an urgent liquidity crisis due to limited cash reserves and constraints on new debt. To address this challenge, the company enlisted the expertise of Force 10, who guided them through a Chapter 11 restructuring process. Force 10's counsel was crucial in securing debtor-in-possession (DIP) financing for Storcentric, which enabled the company to sustain operations and preserve its valuable customer relationships. Storcentric was acquired under a Section 363 process according to the United States Bankruptcy Code, culminating in Serene Investment Management's purchase of the company through its credit bid rights.

Maintain complex data, software code and books and records for the benefit of litigation parties.