BREED TECHNOLOGIES, INC.

Case Highlights

• Negotiated revised customer agreements and closed unprofitable operations
• Restructured debt and equity through a successful Chapter 11 reorganization

Case Narrative

DSI was engaged by Breed Technologies, Inc., a publicly-held global manufacturer of automotive components with $1.3 billion in sales, to assist in the restructuring of its debt obligations through a Chapter 11 bankruptcy filing.  Prior to the filing, DSI assumed a number of significant roles within the company, including Chief Restructuring Officer, Chief Financial Officer and Treasurer.  DSI undertook significant responsibilities, including negotiating a DIP loan facility, structuring ongoing business arrangements with customers, coordinating a sale process, improving financial reporting and developing a business plan for the successful restructuring.  The company filed for Chapter 11 and completed its reorganization within 18 months.  During the course of this, DSI effectively managed all of the administrative aspects as well as the operational issues in the case, including the final development and confirmation of the internal plan of reorganization.