Quest provides its services as an advisor, interim manager, plan administrator or liquidating trust manager to accomplish the objectives of the engagement. Quest specializes in situations demanding significant and rapid change in a company’s capital structure, operations or strategy. Whether the crisis is caused by a sharp decline in earnings or cash flow, key management departures, loss of confidence in management, rapid loss of market share, liquidity shortfalls, debt defaults, discovery of accounting irregularities or fraud, these circumstances demand a heightened sense of urgency, quality, fact-based analysis, and rapid decision-making.
Quest helps its clients resolve these difficult circumstances. As outsiders we bring a sense of objectivity and are unburdened by the loyalties and identification with past decisions. We bring a wide range of experiences from similar situations that help operating management overcome the tendency to resist or compromise on making the painful but necessary changes that are required to preserve cash, save the business and restore the confidence of important constituencies including banks, bondholders, stockholders, employees and customers.
Having worked through many crisis situations, Quest understands the dynamics of these situations and the needs of the constituents involved. For example, when working for management we help them develop a realistic view of their options and help them avoid inadequate responses that waste time and, in the process, consume cash. We help creditors understand when continuing financial support will benefit their ultimate recoveries and how they can leverage their willingness to provide financial flexibility into a position that improves their recovery.
Quest personnel frequently work with companies as they complete an out of court restructuring or exit Chapter 11 to implement their plan. In the role of Plan Administrator, Liquidating Trust Manager or Director, Quest has achieved results far in excess of the original plan. Examples of cases include NTL Incorporated, Adelphia Communications Corporation, and ResCap Liquidating Trust.
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