Rivershore Advisors, LLC is a management consulting practice based in Annapolis, Maryland that specializes in advising clients on out-of-court restructurings and chapter eleven bankruptcy proceedings. Post-confirmation, Rivershore Advisors is typically retained to serve in a fiduciary capacity as an officer, a trustee, the plan administrator and/or the disbursing agent.
Rivershore Advisors, LLC is led by its founder and managing director, Charles M. Setzfand.
A restructuring, bankruptcy and insolvency professional for over 25 years, including positions at PricewaterhouseCoopers LLP and AlixPartners LLP, Charles has served debtors, corporations, lenders, trustees and creditors in bankruptcy proceedings and out-of-court matters in the United States, Canada and South America. Charles has assumed fiduciary roles as Crisis Manager/CRO and Trustee as well as advisory roles stabilizing, improving and maximizing the value of financially and/or operationally troubled companies. Charles holds a bachelor of science from Cornell University, has been recognized as a Certified Insolvency and Restructuring Advisor, and has considerable language capabilities in both Spanish and French.
Residential Land Developer – Appointed by the bankruptcy court to serve as Liquidating Trustee and Plan Agent for a residential land developer based in Palmdale, CA. Responsible for Chapter 11 plan implementation, including the resolution of significant personal injury claims and complex disputes with insurance carriers.
Manufacturer of Recycled Linerboard - This company, based in Arlington, TX owned a paper mill in New Mexico whose assets were pledged as collateral for bond debt issued by its Mexican parent. Developed a plan of reorganization that allowed the debtor to emerge from bankruptcy and continue operating as a viable mill.
Funeral Home and Cemetery Consolidator - Retained as a financial advisor to the Unsecured Creditors’ Committee of this Vancouver, British Columbia based company. Key projects included evaluating the Debtor-in-Possession loan facility and monitoring covenant compliance; negotiating senior management’s key employee retention plan; assessing the company’s reporting capabilities; evaluating the cash management system; and reviewing internal controls.
Farm Supply and Home Improvement Retailer - Retained by the Unsecured Creditors’ Committee of a Muskegon, MI based retailer to serve as Chief Litigation Officer and Trustee responsible for over $250 million in causes of action including preferences, fraudulent conveyance transfers and director/officer liability claims.
Paper Mill - Served as advisor to the company’s lender in an out-of-court restructuring in Argentina. Performed a detailed business and financial statement review to assess the company’s ability to continue servicing its debt; analyzed the company’s viability and the integrity of its financial budgets; quantified the liquidation value of the assets and developed an exit strategy for the lender.
Wireless Communications Retailer - Retained by this Miami, FL based specialty retailer as crisis manager. Responsibilities included providing strategic guidance to senior management and the Board, supervising all financial reporting, securing Debtor-in-Possession financing, and evaluating restructuring alternatives. Over a period of six months operations were restructured to cash-flow neutral. Stabilized operating environment provided an opportunity to successfully package and sell approximately 175 retail locations. Appointed as Trustee to effectuate the plan of reorganization.
Copyright © 2018 Rivershore Advisors, LLC - All Rights Reserved.
Powered by GoDaddy