Gulf
Atlantic Capital Assists Secured Lender in Preparing for and Monitoring Chapter 11 Sale and Wind Down.
Miami, Florida
$9,000,000
Gulf Atlantic
Capital acted as financial advisor to the senior creditor in orderly sale and liquidation of the debtor.
Gulf
Atlantic Capital Assists
Secured Lender in Preparing
for and Monitoring Chapter 11
Sale
and Wind Down.
Gulf Atlantic Capital was retained by the senior secured lender of Sea Specialties, a leading East coast fresh and smoked fish manufacturer and distributor to assist the lender in evaluating its position in the Company.
Reviewed the Debtor’s efforts to sell the business, evaluated the likelihood of a successful transaction and expected recovery to the lender.
Assisted the lender in preparing for a Chapter 11 filing, including analyzing the Debtor’s cash requirements and developing an analysis of the lender’s projected post-petition position in the Debtor’s assets.
Assisted the lender in developing a DIP financing structure to limit the Debtor’s use of cash collateral.
Provided the lender with post-petition monitoring and support to ensure that the Debtor remained focused on the agreed upon strategy.
