Interim Management/President & CEO

President & CEO
Chapter 11 Debtor

Premier Laser Systems, Inc.

Problems:

  • Operations Ceased/Board resigned

  • Valuable IP aging/losing value

Goals:

  • Sell remaining intellectual property

  • Sue patent infringers

  • Maximize recovery for creditors

Results:

  • Claims reduced: $20 to $6 million

  • Dental Intellectual Property sold

  • Patent infringment suits paid off

  • Creditors paid in full, interest pending

Mosier & Company, Inc.

 

Receiverships   top

Turnaround Receivership
Manufacturing Company

Trek Industries, Inc.

Problems:

  • Revenue decline 2001 - 2004

    • $17.5 million to $3.5 million

    • Losses: alarming $1 million/year

  • Owners pumping in $100K/month

Goals:

  • Return company to profitability

  • Sell the business as a going concern

  • Recapture owner loans/investment

Results:

  • Revenues increased to $5.5 million

  • Costs cut $1 million (mostly payroll)

  • Business sold, creditors paid in full

  • Owners repaid loans + investment

Mosier & Company, Inc.

 

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Equity Receiver
Retained in Bankruptcy

Moulton Auto Spa

  Problems:

  • Auto spa defaulted: $2.2 mil note

  • Owner filed BK to stay receivership

  • BK Court retained Receiver: sell spa

Goals:

  • Stabilize the business operations

  • Bring business into legal compliance

  • Auction auto spa to highest bidder

Results:

  • Operations brought into compliance

  • Health and safety violations cured

  • Auction produces $3.4 million price

  • Bank paid in full, surplus estate

Mosier & Company, Inc.



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Class-Action Lawsuit
Dissolution Receiver
 
National Investors
Financial, Inc. 
 

Problems:

  • 5,200 elderly investors

  • $110 million in total investment

  • Management pursuing own agenda

Goals:

  • Settle with management

  • Sell land/sue aiding professionals

  • Maximize recovery for investors

Results:

  • Projects sold for $15 million

  • Litigation settled for $15 million

  • 15% to 20% recovery for investors

    •

Mosier & Company, Inc.


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Receiver in Family Court
Sale of Real Property
 
Reynolds Building
 
 Problems:

  • Disputes errupt in 10 year-old divorce

  • Former spouses: no agreements

  • Court orders rental building sold

Goals:

  • Stabilize tenant relations

  • Address deferred maintenance

  • Maximize value through auction sale

Results:

  • Tenant issues resolved/stabilized

  • Deferred maintenance addressed

  • Property auctions for $4.3 million

  • Exceed market comps by $1 million

Mosier & Company, Inc.


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Receiver 
Medical Practice
 
Fertility Clinic
 
 Problems:

  • 2 doctors cannot agree: spliting $s

  • Disputes over operation of lab

  • Dispute threatens profitability

    •

Goals:

  • Stabilize the current operations

  • Equitably divide the practice

  • Ensure med procedures compliance

Results:

  • Lab/practice stabilized

  • Practice divided

  • Patient records transferred

  • Dispute resolved

Mosier & Company, Inc.



Provisional Director   top

 Provisional Director
 Family Business Dispute
 
Hasco Oil, Inc.
 
Problems:

  • Mother sells oil business to children

  • Mother gets note, 20 year pay out

  • Kids mismanage business, default

    •

Goals:

  • Stabilize the management

  • Return the business to profitability

  • Reinstate payments on the note

Results:

  • Financial controls put in place

  • Management disputes resolved

  • Note payments resume

  • Mother retakes control of the Board

Mosier & Company, Inc.


Examiner in Bankruptcy   top

Examiner in
 Bankruptcy Court
 
El Toro Materials
 
Problems:

  • Gravel Co. produces sludge “hill”

  • Cleanup costs exceed $15 million

  • Property owner sues to force cleanup

  • El Toro files BK for protection

Goals:

  • Confirm magnitude of the cleanup

  • Confirm debtor in full compliance

  • Make recommendations to the Court

Results:

  • Cleanup costs verified

  • Debtor: large preferential transfers

  • Debtor refused to repay

  • Chapter 11 Trustee appointed

Mosier & Company, Inc.


Special Master Accounting   top

Accounting
 Special Master
 
OC Building
Permits Department
 
Problems:

  • $18 to $25 million alleged misspent

  • County alleged in violation of GASB

Goals:

  • Reconstruct revenue/expenses 4 yrs

  • Determine spending vs. formulas

  • Report findings to the Court

Results:

  • County spending lacked justification

  • Future permit fees to be lowered

  • Resignations: all levels of County

Mosier & Company, Inc.


Probate Trustee   top  

Probate Trustee
Raw Land Entitlement
 
DMC Trust
 
Problems:

  • Largest Asset: 30 acres raw land

  • Current zoning: 1 house/40 acres

  • 401 neightors oppose development

Goals:

  • Turn the neighborhood around

  • Achieve 45 half-acre lots

  • Maximize recovery for heirs

Results:

  • Commission approved final map

  • Most neighbors supported the plan

  • Project sold to a nationwide builder

  • Value enhanced: $1 to $3 million

Mosier & Company, Inc.


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Temporary Trustee
Probate Court
 
Shirley's Bagels
 
Problems:

  • Dispute over living trust provisions

  • Lucrative bagel businss declining

  • Four heirs couldn’t agree on anything

Goals:

  • Turnaround/sell the beagle stores

  • Provide accounting: pasts gifts

  • Maximize remaining assets for heirs

Results:

  • Business stabilized, eventually sold

  • Estate tax returns filed; taxes lowered

  • Real estate sold and allocated

  • Prior gifts reconciled; litigation settled

Mosier & Company, Inc.


Independent Fiduciary   top

Independent Fiduciary
Federal Court Regulatory Action
 
Metacor Pension &
Profit Sharing Plan
 
Problems:

  • Pension plan $s used to pay ops bills

  • Department of Labor sues fiduciaries

  • Settlement to be implemented

Goals:

  • Recover assets: several sources

  • Initiate litigation for added recovery

  • Maximize recovery: plan participants

Results:

  • Assets recovered pursuant to plan

  • Insurance litigation pursued - settled

  • Participants received 49.9% net

Mosier & Company, Inc.