In crisis situations, the resources needed for a successful turnaround may not exist. Few business decisions are as difficult to reach and as challenging to implement as winding down a business and liquidating a company's assets. Sometimes, an accelerated business sale may be the prudent option. COMPASS will target potential buyers and move rapidly to close, usually avoiding the delays and expense of court- approved sales. COMPASS also has substantial experience maximizing value for stakeholders in receivership proceedings and wind-down liquidations.
In its most basic form, a receivership is used to preserve the assets of a company or estate for the benefit of stakeholders. A receiver acts in the best interests of all parties and therefore brings a fresh perspective and credibility to a troubled situation. To help ensure that a receivership is successful, the selection of a capable receiver is important.
With our vast experience in receivership proceedings, clients and their stakeholders can be certain that Compass executives are well positioned to face the myriad of issues that arise during the first week of a receivership. Our executives possess key characteristics, such as strong crisis management skills and financial expertise. This enables us to quickly evaluate the company's current financial position and to step in as interim management and attend to the competing demands facing any receiver, while simultaneously working to restore business operations.