Restructuring Services
Financially distressed companies face a lot of questions and uncertainty, but CFGI can help make whatever course of action is needed easier to manage. Effective and quick decision-making is critical so businesses can alleviate financial pressures, address legal obligations and get back on their feet as quickly as possible. Let CFGI’s restructuring services experts guide your company through troubled waters and get your organization on solid footing so you can move forward.
Find a path forward through financial distress
Whether your company is in substantial debt or is considering bankruptcy proceedings, the legal and financial ramifications of those circumstances place an enormous strain on your organization. There are numerous challenges that demand the attention of distressed companies, distracting them from attending to normal business operations:
- Cash flow obstructions.
- Vendor supply issues.
- Asset seizures instigated by creditors and debtors.
- Bankruptcy costs.
- Debt obligations.
In addition, there are many different ways to manage financial downturns and make the organization whole again:
- Negotiate with lenders and suppliers.
- Profitability enhancement.
- Identify new sources of cash flow.
- File for bankruptcy.
CFGI’s restructuring services team will work with you to determine the best approach for your specific needs and circumstances. We take care of the financial matters both in and out of court to help your company get back on your feet.
Our clients:
Overcome financial hardships with CFGI
Bankruptcy is by no means a forgone conclusion during times of financial hardship. CFGI’s team of restructuring services experts will explore every possible avenue to reduce debt, appease creditors, preserve the value of your organization and rebuild investor confidence. If bankruptcy is the best course of action, we will help your company prepare for and work through the process so you can continue building for the future.
CFGI’s restructuring services and expert consultation support include:
- Assessment of current finances and debt obligations.
- Identification of the best path to financial solvency.
- Bankruptcy preparation, including building up a war chest, organizing finances and preserving as much capital as possible.
- Navigation of bankruptcy proceedings to complete the process as quickly as possible while keeping costs down.
- Analysis of historical payments and business relationships to determine possible exposure.
- Coordination between creditors, debtors and lenders to keep sources of cash flow open.
- Collaboration with existing vendors, suppliers and business partners to ensure essential materials and products are available to continue business operations.
- Establish long-term financial stability to rebuild investor confidence in your business and its long-term prospects.
CFGI also works with creditors and lenders to secure payback on and maximize the value of outstanding debt.
CFGI is here to help get your business back on track
CFGI’s restructuring services professionals understand the enormous amount of pressure that distressed companies face, and we will do everything we can to make the process easier on your team and your business.
Bankruptcy is often an expensive undertaking, but our restructuring services significantly reduce the cost of the financial side of these proceedings. We offer the same skill, expertise and experience you would expect from other nationwide accounting firms, but at an affordable price to ease your financial burden.
Expert support in your time of need
Our bankruptcy experts have the extensive experience, industry certifications and impressive qualifications to distinguish CFGI restructuring services from other firms. CFGI Partner Joseph Baum heads up our restructuring services division, bringing more than 20 years of experience leading restructuring projects for distressed companies. CFGI has consulted on bankruptcy proceedings covering various industries and conditions and is a subject matter expert in the areas of fraud and forensic accounting investigations, with comprehensive knowledge of securities class action, mortgage and other fraud litigations.
Joseph holds many professional certifications from and affiliations with the industry’s leading financial organizations:
- American Institute of Certified Public Accountants.
- American Bankruptcy Institute.
- New Jersey Society of Certified Public Accountants.
- Association of Insolvency and Restructuring Advisors.
- Association of Certified Fraud Examiners.
- New York Institute of Credit.
- Turnaround Management Association.
Every CFGI restructuring services professional has extensive experience working on restructuring proceedings and holds deep industry-specific knowledge to guide effective decision-making at every stage of the process.
Meet the Leaders
Joseph C. Baum, Managing Partner
Joe is a Partner who leads the restructuring group at CFGI, providing chief restructuring officer (CRO) support, interim management and other financial advisory services to companies, creditors’ committees, lenders and stakeholders. He has testified in numerous courts and has also been active in fraud and forensic accounting investigations, including securities class-action litigations as well as mortgage and other fraud investigations. He also conducted white-collar investigations into financial crimes, including incidents of overbilling, employee misappropriation and misrepresentation of financial reporting.
Joe joined CFGI in September 2020 after having worked for Argus Management Corp., a Boston-based restructuring firm. Prior to that, he worked for 17 years at CohnReznick LLP in the restructuring and litigation support group.
Joseph C. Baum
Managing Partner
Joe is a Partner who leads the restructuring group at CFGI, providing chief restructuring officer (CRO) support, interim management and other financial advisory services to companies, creditors’ committees, lenders and stakeholders. He has testified in numerous courts and has also been active in fraud and forensic accounting investigations, including securities class-action litigations as well as mortgage and other fraud investigations. He also conducted white-collar investigations into financial crimes, including incidents of overbilling, employee misappropriation and misrepresentation of financial reporting.
Joe joined CFGI in September 2020 after having worked for Argus Management Corp., a Boston-based restructuring firm. Prior to that, he worked for 17 years at CohnReznick LLP in the restructuring and litigation support group.
Howard Konicov
Managing Director
Howard is a Managing Director in the restructuring group at CFGI, and he provides advice to secured creditors, business owners and corporate boards as they navigate the challenges of a distressed environment, viability issues and workout situations. In his many years of restructuring experience, Howard has represented asset-based lenders with their due diligence procedures, credit extension decision-making and advantageous forbearance agreement negotiation.
Howard joined CFGI in November 2020. Previously, he worked for a New Jersey consulting firm that specialized in interim financial management and served as an adviser to business owners experiencing various levels of financial distress. Prior to that, he worked at CohnReznick LLP in their restructuring and litigation support group for 17 years.
Push past financial hardship and build for the future
Although bankruptcy and other restructuring processes can be expensive and time-consuming, it’s well worth all of that to completely address your financial obligations and come out stronger on the other side. Contact our team today to schedule a consultation and begin assessing the best course of action for your business.
