As financial advisor to the Official Committee of Unsecured Creditors, Force 10 determined that the unsecured creditors of Chineseinvestors.com, a financial news media and content provider targeting the global Chinese-speaking investor community, would be better served by a Chapter 7 Trustee. Based on our analyses and recommendations, the case was converted from Chapter 11.
Chineseinvestors.com generated revenue from customers who subscribed to its services. In 2017, the company entered the cannabis and crypto businesses, but these efforts were unsuccessful and began scaling them down in 2019. In 2020, the company made a voluntary Chapter 11 filing.
The Creditors Committee hired Force 10 as their financial advisor to analyze the Debtor’s financial projections, budgets, and key operating metrics, develop financial projections and valuations to assess the feasibility of the company’s Chapter 11 reorganization plans and business valuation, provide accounting investigations, and evaluate solicited offers to purchase or invest in the company. Force 10 determined that a Chapter 7 Trustee would better serve the creditors, and the case was subsequently converted.
