PAC HOLDING COMPANY

Case Highlights

• Evaluated company and operations to assess restructuring alternatives
• Provided strategy and support for the company’s operational and financial restructuring
• Advised lender group on bankruptcy strategy

Case Narrative

PAC Holding’s lender group retained DSI to assist in the assessment of the company, possible refinance of the debt, alternative restructuring options and an enterprise valuation.  Conditions worsened and the company entered into Chapter 11 to continue operations and financing and explore restructuring options.  DSI participated in negotiations with the equity sponsor, the company, its financial advisors and creditors’ committee to evaluate lender recovery and to advise and support the lender group.  Ultimately, substantially all the assets were sold through court supervised sales and the lender group achieved a full recovery on its claims and a successful outcome.