2. Corporate Restructuring Services
Experienced Leadership Team with a proven record of achieving results for clients in
over 75 engagements
Committed to provide senior level attention and accountability to each engagement
National focus with staff in New York, Chicago, Los Angles and Houston
Corporate Restructuring Services (“CRS”) combines deep industry knowledge with
restructuring expertise
CRS is operationally-focused through disciplined performance improvement analytics
to ensure the enterprise is restructured to best position itself for future profitability
CRS has the valuation and capital markets knowledge to craft a sustainable capital
structure which provides the restructured enterprise the financial underpinning to
move forward to executing its business plan
CRS has a breath of experience in restructuring related areas such as forensic
accounting, litigation support, post-confirmation trusteeships and claims settlement
and reporting
Resources of a 75 person consulting practice balanced in serving both debtor and
creditor constituencies with a dedicated staff of 12 senior staff 100 percent dedicated
to CRS
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3. The Claro Group Difference
The Claro Group is dedicated to optimizing the enterprise value of distressed
companies and providing tangible value to the constituents we represent
Our consultants have functional experience in all aspects of the restructuring and
bankruptcy process and combine such knowledge with specific industry
experience and expertise in performance improvement
We have a record of negotiating with multiple constituencies which are
frequently adverse towards a settlement which reflects the economic reality
within the framework of the law and the governing credit arrangements
We communicate with our clients to ensure they comprehend the facts and
circumstances so they are prepared to act in a manner to preserve enterprise
value
We are mindful that we must add value to an engagement and are willing to tie
results to our economics
We are privately owned and our success is tied to our ability to deliver value with
clarity and integrity
While we are young, Consulting Magazine named us “One of Seven Small Jewels
in March 2008
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4. Claro Capabilities: Understanding Issues
Claro will immediately analyze the financial and operational situation to develop
the strategies and options available and to be accessed
• We have worked and have credibility with the secured lenders, bondholders, vendors,
hedge funds and private equity to quickly address critical issues
• Our record of working in difficult time pressured situations and ability to clearly
communicate the facts at hand will serve to expedite agreement to near and long
term goals
• We will strive to enhance the operations to affect a turnaround and gain sufficient
time to maximize value
• We will obtain needed liquidity to ensure sufficient runway to a successful turnaround
• When appropriate, we will rely on the skills and energy of existing management and
seamlessly mold our team to support them in the turnaround
• We will provide functional knowledge and experience to fill key roles as needed
• We will transition to permanent management and control as soon as practical
• We will sell surplus assets or liquidate the enterprise if it is concluded that is the best
option
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5. Claro Capabilities: Restructuring Experience
Claro has experience and a proven record in negotiating and implementing
restructurings including:
• Pre-arranged and Pre-packaged Chapter 11 restructurings
• Chapter 11 filings including Liquidating 11s
• Crisis Management / CRO roles
• Bankruptcy Trusteeships and Examiners
• DIP financing
• Out of Court Restructuring
• Credit Facility Covenant Modifications and Forbearances
• Bond Indenture Modifications
• Exchanges
• Debt for Equity Swaps
• Rights Offerings
• Exit Financing
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6. Claro Statement of Values
Claro understands that integrity and clarity is the cornerstone of a successful
outcome. Our engagement occurs during a time of crisis where reliability and
credibility of the Claro team will have a meaningful affect on the outcome and
results. To that end, Claro will:
• Provide analytical discipline which is actionable and fact-based
• Provide advice that is objective and supportable
• Accept assignments where we can add value to the enterprise
• Manage and respect the relationships with all stakeholders
• Foster a dialog which is constructive, respectful and conducive to value creation
• Honor the trust of our clients
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7. Corporate Restructuring Services
Claro’s Corporate Restructuring Group provides the following services to companies (pre and
post petition) and creditors
Interim Financial Operational Bankruptcy Bankruptcy
Management Restructuring Movement Roles Litigation
• Crisis Management • Liquidity • Supply Chain and • Trustee • Preferences
• Exploring Strategic Enhancement Strategic Sourcing • Advisor • Insider Transfers
Alternatives • Working Capital • Demand Mgt • Examiner • Causes of Action
• Operations Improvements • Profitability • Responsible Party • Asset Searches
Stabilization • Business Plan Enhancement • Receiver • Expert Testimony
• Employee Development • Quality of Earning • Wind Downs • Fraudulent
severance & • Integrated Financial Analysis • Liquidations Transfers
retention plans Projections • Vendor Negotiation • DIP Sourcing & • Zone of Insolvency
• Negotiations • Debt Restructuring & Management Negotiations
between parties in • Financial & • Claim Analysis and • Exit Financing
interest Operational Due Management • Contract/Lease
• Covenant Diligence • Maximize Recovery Analysis &
Negotiation • Asset Valuations from 3rd Parties Negotiation
• Financial Reporting including Insurers • POR/POL
Negotiations
• Going Concern
v. Liquidation
Valuations
• Conducting 363
Asset Sales
• Constituency
Management
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8. Corporate Restructuring Industries
Claro’s restructuring team members have provided numerous company side and
secured and unsecured creditor representation in the following industries:
Financial Services
Healthcare
Energy
Manufacturing
Real Estate
Retail & Restaurants
Services
Telecom & Technology
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9. Corporate Restructuring – Advisors to Debtors
WW Steel
Allied Defense
Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s
Advisor Advisor Advisor Advisor
Vending Data
Bluewater Thermal Triboro Wholesale
Services
Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s
Advisor For Vending Data Advisor Advisor Advisor
First Wave Marine Cleartel
Selected to Serve as Served as the Debtor’s Served as the Debtor’s Served as the Debtor’s
Chief Operating Officer Advisor Advisor Advisor
To Citi Residential
Lending, Inc.
Note: Claro current professionals served these clients while employed at other firms
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10. Corporate Restructuring – Advisors to Debtors
Enron Enron Cheniere Energy
Served as the Debtors’ Served as the Debtors’ Served as the Debtors’
Advisor Advisor Advisor
Silver State Helicopters
Served as the Debtors’ Served as the Debtors’ Served as the Debtors’
Advisor Advisor Advisor
Claro current professionals may have served certain of these clients while employed
at other firms
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11. Corporate Restructuring – Advisors to Creditors
Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Served as the Creditors’
Advisor Advisor Advisor Advisor
Graphic Scanning
Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Served as the Creditors’
Advisor Advisor Advisor Advisor
Zybernaut Inc.
Served as the Creditors’ Served as the Creditors’ Served as the Creditors’ Served as the Creditors’
Advisor Advisor Advisor Advisor
Note: Claro current professionals served these clients while employed at other firms
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12. Corporate Restructuring – Advisors to Creditors
Telergy DVI Benedek Broadcasting
Represented Unsecured Served as the Creditors’ Served as the Creditors’ Served as the Creditors’
Creditors Pursuing Claims Advisor Advisor Advisor
From Insolvent Estates
and Schemes Arranged in
UK
OIC Runoff Limited KWELM Southern American Mission Insurance
Insurance Company Company
Represented Unsecured Represented Unsecured Represented Unsecured Represented Unsecured
Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims
From Insolvent Estates From Insolvent Estates From Insolvent Estates From Insolvent Estates
and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in
UK UK US US
Reliance Insurance Sovereign Marine & English & American The Home Insurance
Company General Insurance Insurance Company Company
Company
Represented Unsecured Represented Unsecured Represented Unsecured Represented Unsecured
Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims Creditors Pursuing Claims
From Insolvent Estates From Insolvent Estates From Insolvent Estates From Insolvent Estates
and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in and Schemes Arranged in
UK UK UK US
Note: Claro current professionals served these clients while employed at other firms
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