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Case Study
Total Homecare
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The Fire
- Failed durable medical goods provider with locations in Las Vegas, Nevada and Arizona.
- Filed Chapter 11 in Las Vegas.
- Business model untenable due to accounting and reimbursement issues.
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The Rescue
- Stabilized the debtor’s operations and re-established credibility with the lender by implementing accurate and timely financial reporting.
- At lender’s request, named the debtors’ sole Agent to explore the sale of the enterprise.
- Gained consent for the continued use of cash collateral.
- Addressed and resolved significant client and vendor concerns.
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The Result
The Nevada Bankruptcy Court approved a successful sale of the debtor.