LIGHTHOUSE IMPORTS, LLC

Case Highlights

• Stabilized and managed day-to-day business operations of an operating car dealership
• Organized and implemented a process to maximize the going concern value of the operations
• Implemented a plan of reorganization to pay creditors and close the estate in less than a two-year period

Case Narrative

Lighthouse Imports, LLC d/b/a St. Augustine Toyota/Scion operated a full service new and used car sales, service and parts dealership in St. Augustine, Florida.  The real estate bust, Great Recession, recall issues, the Japanese tsunami, along with a highly leveraged balance sheet, caused the Debtor financing and liquidity problems.  A failed joint venture arrangement and defaults with its lenders caused Lighthouse to file Chapter 11.  DSI was retained to act as Financial Advisor, including appointment as a Chief Restructuring Officer, to assist Lighthouse in the implementation of a Chapter 11, negotiate with secured creditors and vendors and facilitate a plan to maximize value of the operation and its assets.  This was accomplished through a Section 363 sale process and a confirmed Chapter 11 Plan of Reorganization.