Gulf Atlantic Capital Appointed Chief Restructuring Officer to Direct Reorganization Efforts of a Publicly Traded Environmental Technology Development and Electrical Contracting Firm in Chapter 11 Filing
EarthFirst Technologies
Tampa, Florida
Gulf Atlantic Capital acted as Chief Restructuring Officer to direct reorganization efforts.
Gulf Atlantic Capital Appointed Chief Restructuring Officer of EarthFirst Technologies et.al. to Develop and Implement Plan of Reorganization
Gulf Atlantic Capital was appointed the Chief Restructuring Officer of EarthFirst Technologies and eight related entities after the Company and its senior secured lender could not resolve issues related to the Company’s recent finanical transactions.
Gulf Atlantic Capital took control of the entity’s operations and was given wide ranging authority to reorganize the business and investigate insider transactions.
Gulf Atlantic Capital prepared the Company for a Chapter 11 filing, including developing cash collateral budgets and negotiating a consensual DIP financing agreement between the Company’s primary investor and the Company’s senior secured lender.
Using the DIP investor as a plan sponsor, developed a plan of reorganization based on exiting the Company’s electrical contracting business and reorganizing around the emerging technologies while preserving the Company as a publicly held firm.
