Quest Administrative Services, LLC
Mr. Brodsky brings to his assignments over 30 years of hands-on financial and operational experience with an extensive background in crisis and turnaround management within a variety of industries. Mr. Brodsky is a co-founder and Managing Director of Quest Turnaround Advisors, LLC (“Quest”) where he provides advisory and interim management services to Boards of Directors, senior management and creditors of companies.
Mr. Brodsky is currently on the board of MacAndrews & Forbes Incorporated (MAFI) and serving as chief financial officer of MAFI. Previously, he led Quest’s role as Plan Administrator of Adelphia Communications Corporation and Trust Administrator on behalf of the Adelphia Recovery Trust. In this role, Quest was responsible for distributing approximately $15 billion to creditors and successfully generated $1.8 billion of recoveries greater than what was projected under the plan. In 2015, Mr. Brodsky completed Quest’s role as Liquidating Trust Manager of the ResCap Liquidating Trust where he led all activities relating to ResCap’s emergence from Chapter 11 and management of its operations including the distribution of over $2.2 billion to beneficiaries.
From 2002 to 2010, he served as Chairman, President and CEO of PTV, Inc (“PTV” formerly NTL Incorporated). PTV completed its plan to maximize value for its stakeholders and was dissolved in October 2010. In connection with this case, Mr. Brodsky also served as Chairman of Cablecom GmbH, the largest cable provider in Switzerland and completed a restructuring of CHF 3.8 billion of bank debt held by a 38 member bank group and sale of PTV’s interests in Cablecom to a consortium of investors. Upon emergence from Chapter 11 in January 2003, PTV’s preferred shares had a market value of $2.50 per share. Through October 2010, $23.50 per share has been distributed to preferred shareholders.
Prior to joining Quest, Mr. Brodsky provided his services as an independent crisis management consultant and worked with Jay Alix & Associates and Alvarez & Marsal, Inc. on various engagements. Representative assignments included (a) advising FINOVA Capital Corporation in connection with its restructuring of $11.1 billion of debt; (b) serving as interim management of Physician Computer Network, Inc. following the discovery of accounting irregularities; and (c) managing the shutdown of the national operations of Viking Freight, Inc. on behalf of Caliber System.
Previously, Mr. Brodsky was a member of senior management of Integrated Resources, Inc., (“Integrated”) a diversified financial services firm listed on the NYSE, where he was responsible for managing Integrated’s equipment leasing business, its portfolio of operating companies acquired through leveraged buyouts and as a member of senior management was actively involved in all aspects of Integrated’s Chapter 11 reorganization from 1989 through 1995 working closely with creditors and advisors to maximize the value of the assets and work through a complex claims resolution and litigation process among banks, bondholders and unsecured creditors.
Mr. Brodsky started his career at Coopers & Lybrand of New York City where he specialized in banking and securities brokerage clients. Mr. Brodsky graduated from New York University College of Business and Public Administration (BS) and New York University Graduate School of Business (MBA). Mr. Brodsky is a Certified Public Accountant and a Certified Turnaround Professional. Mr. Brodsky currently serves as a director on the Board of MacAndrews & Forbes Incorporated. Previously, Mr. Brodsky served as Non-Executive Chairman of Horizon Lines, Inc., Lead Director of Broadview Networks, Inc.(1), Non-Executive Chairman of AboveNet, Inc.(1), a director of Vericast Corp., A.M. Castle & Co.(1), Her Justice, Furie Operating Alaska, LLC, Euramax Holdings, Inc.(1), PTV, Inc., Motor Coach International, Inc., EBG Holdings, LLC(1), Titan Energy Partners, LP(1), TVMAX, Inc., Morris Material Handling, Inc., Comdisco Holdings, Inc.(1) and Hawaiian Airlines(1).
(1) Serves(d) as Chairman of the Audit Committee
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