Interim CFO during Bankruptcy and Sale of the Business

One of California’s largest collectors of waste oil and the state’s sole operator of a re-refinery was in bankruptcy and preparing for a sale. The company’s debtors were unsatisfied with its CFO’s performance, as the records and systems were substandard.

The debtors demanded that the company retain a financial advisory firm to assist with the bankruptcy and subsequent sale process, and referred management to Buxbaum. Our Interim CFO brought immediate relief to the debtors’ concerns.

Buxbaum Solutions

Working closely with the company’s management and CFO, with whom we established strong relationships, we:

• Successfully navigated multiple constituents (some adversarial to one another) and obtained accurate information for the debtors.
• Built cash-flow projections and completed court-required filings.
• Assisted with daily operations and potential buyer due diligence.

Value Creation

Buxbaum efficiently got the company on track for a successful exit from bankruptcy in the U.S. Bankruptcy Court and a $60 million sale to the leading provider of environmental, energy and industrial services in North America.