Technology

A Force 10 professional was appointed as Custodian and Receiver sua sponte by the Delaware Chancery Court and then served as the fiduciary through the Chapter 11 process for this online travel agency, raising cash through asset sales, avoiding preferences and fraudulent transfers, and settling D&O claims.

Force 10 professionals acted as the Financial Advisor to the Debtor, a provider of cybersecurity tools to consumers and small businesses. They arranged a Section 363 sale to Guthy-Renker, the strategic partner and secured lender.

Force 10 was engaged as the investment banker for Parlement Technologies to manage the sale of its non-debtor subsidiaries, Dynascale and Alchemy.

Prepared detailed valuation to support company's restructuring objectives.

Force 10 served as investment banker to sell the patent portfolio of this non-operating business that had developed unique printed circuit board technology. Force 10's engagement resulted in the successful sale of the intangible assets.

Force 10 served as an expert witness regarding valuation, solvency, and damages in a case involving this company that developed and marketed business processes, compliance, and change management software. Our testimony prevailed over the plaintiff's demands and position on damages.

Force 10 safeguarded creditor interests and shaped a successful reorganization plan in Eye Care Leaders’ Chapter 11 bankruptcy, enabling the company to emerge with a stronger financial foundation and a path to operational stability.

Force 10 professionals represented Foxconn, a major global contract manufacturer and the largest claimant and supplier to Fuhu, a children’s tablet and app maker, with respect to Fuhu's Chapter 11 bankruptcy. We assisted in settling cross-claims and succeeded in reducing Foxconn's potential exposure. Force 10 professionals also monitored the sale proceedings and asserted Foxconn's rights.

Force 10 professionals testified to the valuation and sale feasibility of this company that provides website hosting and co-location services. Our testimony resulted in the removal of the state court-appointed Receiver. We then served as investment bankers and conducted a Section 363 sale that allowed all creditors to be paid in full and ended shareholder disputes with a distribution to equity.

Force 10 served as the Chief Restructuring Officer and financial advisor to the Debtors, companies that provided end-to-end omnichannel e-commerce solutions. We arranged a rapid Chapter 11 restructuring that resulted in a sale that generated a significant return to creditors.

Force 10 provided a solvency opinion and expert testimony in support of KP3, a ticket broker for concerts, sporting events, theatrical performances, and other live events nationwide, which had been placed in an involuntary Chapter 7 proceeding. Our testimony showed that the Debtor was solvent, and the case was dismissed.

Out-of-court wind down of operations and assets

Acting as a State Court Receiver, Force 10 took control of this cybersecurity firm's intellectual property and IT infrastructure to preserve these assets for due diligence, discovery, and causes of action.

Sendio, a provider of email security solutions, was challenged by a legacy cost structure and weary investors. Given its lack of liquidity, Sendio reorganized via an Assignment for the Benefit of Creditors, in which Force 10 served as the independent director and coordinated the transaction. Through an auction, Sendio was sold to a European-based fund, maintaining continuity with its employees and customers while significantly reducing operating costs.

Force 10 led a strategic wind-down to maximize the asset value of this software and services company focused on residential real estate investment. The company’s platform streamlined home purchase, renovation, and sales for real estate investors. Our role encompassed operational management, financial reporting, cash flow forecasting, IT wind-down, tax compliance, and corporate dissolution.

Force 10 Partners guided StorCentric, a provider of enterprise data storage solutions, through a challenging Chapter 11 restructuring amid a severe liquidity crisis. With limited cash reserves and constrained access to new debt, Force 10 secured debtor-in-possession (DIP) financing to stabilize operations and preserve critical customer relationships. These efforts culminated in a successful Section 363 sale, ensuring the seamless transfer of assets to new ownership and maximizing value for stakeholders.

Initially serving as the Chapter 11 Chief Restructuring Officer for this deeply insolvent real estate services company that its equity holders had abandoned, Force 10 quickly determined the state court could provide a better venue for creditors. The motion to dismiss the case and to appoint a Receiver was successful.