When bonded investments and assets become distressed, it’s crucial to have an experienced turnaround team.
At Resolute, we have experience in distress across a wide spectrum, from education to health care to municipal services. Whether an asset needs to be dissolved or can be successfully rehabilitated, Resolute is your one-stop-shop to stabilize and secure difficult and sensitive situations.
Providing a wide range of services for distressed assets
We’ve got the skills to assist in any stage of turnaround or winddown required.
Court Appointed Engagements
Receivership, Special Master, and More
Chief Restructuring Officer, Interim CEO and CFO, Interim Independent Board Member, Financial Advisor
Chapter 11 Trustee, Post Confirmation Liquidating Trustee, and More
Real Estate Solutions
Brokerage Services, Asset Management, and More
Experience Across a Wide Variety of Asset Types:
We Understand Complex Engagements
This entity was a national for-profit vocational technical college with 30 campuses nationwide. The college was flagged by the Department of Education for a series of issues related to its mismanagement of finances and student performance. Federal funding was cut off and the company failed under the weight of its overall debt obligations. Of all the locations, the Arizona campus was the one sole asset of the pool of syndicated Lenders, as the other locations were lease hold interests. Resolute was appointed as Receiver for the Arizona campus. FF&E required vetting of potential buyers to determine their lack of connection to the educational system and potential implications posed within. The entity housed prescription drugs for their medical classes. We worked closely with the Arizona Department of Higher Education, DEA, and Arizona Board of Pharmacology to maintain compliance in disposing of the drugs. Resolute ultimately secured a qualified buyer for the real property asset.
Senior Managing Directors Nathaniel Curtis and Nicole Manos assisted with the first public school Receivership in the United States. Supported the day-to-day management of a rural school district located in an isolated community located on the border of Arizona and Utah. Mr. Curtis spent approximately six months living in Colorado City to ensure that the school district’s assets were secure and acted as the interim district superintendent responsible for education, safety, and environmental stability. Mrs. Manos assisted with financial restructuring of the district and implemented and tested District policies and procedures to ensure compliance with state Uniform System of Financial Records (“USFR”) requirements. Their work resulted in a restructuring plan that ultimately repaid millions of dollars of taxpayer funds that were misappropriated by the district’s prior management.
Receiver for Florence Hospital at Anthem and Gilbert Hospital, two hospitals with total revenue of $70MM. Managed operations and devised a closure plan to safely transfer all patients and strategically decommission all services in just eight days. Wind down process included the closure of two functioning pharmacies and decommissioning of nuclear medicine and diagnostic medical equipment. Resolute successfully collected outstanding AR totaling more than $5MM and orchestrated the sale of all furniture fixtures and equipment for the benefit of the creditors. Successfully negotiated plan with PE Firm and EMR provider to secure 250,000 + patient records for limited window, one-time patient transfer before destruction.
Appointed Receiver to Tucson, Arizona nonprofit that provided behavioral health care and substance abuse treatment. Resolute addressed a variety of real property and deferred maintenance matters and orchestrated wind-down of operations, including liquidating fixed assets, 11-acre campus and receivables.
Receiver for regional recycling enterprise in Las Vegas, NV., including 1.6 acre materials recovery facility, drop locations, sorting facility, and fleet of trucks. Resolute resolved security lapses on the property and addressed decline in facility maintenance.
Examples Where We’ve Thrived
Partially Completed Projects
Broken Condo Conversions
Resolving Construction Defects
Management of Large/Complex Projects
Broken or Mid Stream Entitlement Issues