Turnaround Receivership Manufacturing Company

Situation:

• 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 and investment

Results:

• Revenues increased to $5.5 million
• Costs cut $1 million (mostly payroll)
• Business was sold and creditors paid in full
• Owners repaid loans + investment

Mosier & Company, Inc.

Provisional Director Family Business Dispute Situation:

• 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.

Probate Trustee Raw Land Entitlement Situation:

• Largest Asset: 30 acres of raw land
• Current zoning: 1 house per 40 acres
• 401 neighbors oppose development

Goals:

• Turn the neighborhood around
• Achieve 45 half-acre lot zoning
• 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.

Temporary Trustee Probate Court Situation:

• Dispute over living trust provisions
• Lucrative bagel business declining
• Four heirs couldn’t agree on anything

Goals:

• Turnaround and sell the bagel 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.

Court-Appointed Receiver (Turnaround Project to Avoid Dissolution) $11,000,000 Computer Main Frame Leasing Company
Situation: This once successful company was sold to a Vice President, and the seller took back a $1.0 million note. The new owner quickly lost financial control of the business and defaulted on a $1.6 million secured line plus the note to the prior owner. The Bank sought the appointment of Robert P. Mosier as Receiver. Results: After stabilizing the company’s cash flow, the Receiver negotiated a settlement where the prior owner returned to management. The secured loan was paid off, and the Bank rewrote a new line of credit. The customer later received the Bank’s “Borrower of the Year” award. Duration: 1 year. Orange County Superior Court Judge. Ronald P. Bauer; Eric Dean, Esq., of Arter & Hadden, Counsel for the Bank. Ed Terreri, Esq., Counsel for the Defendants.