DSI'S Role

Financial Advisor and Post-Confirmation Plan Trustee

Services Provided

  • Business Plan Analysis
  • Claims Analysis & Distribution
  • Preference Analysis
  • Sale of Assets
  • Wind Down Management


Case Highlights

  • Prosecuted and successfully settled D&O litigation
  • Claims analysis reduced claims pool by nearly 40 percent
  • Provided significant distribution to general unsecured creditors

Case Narrative

Solar Cosmetic Labs, Inc., manufactured and distributed sun care and skincare products with executive offices and manufacturing and warehouse facilities in Miami, Florida.  Solar’s sun care business included customers in food, drug and mass retail outlets across the United States and throughout the world.  Solar retained DSI as its financial advisor and Solar filed a Chapter 11 bankruptcy petition.   DSI enabled Solar to consummate sales of its skin care and sun care product lines for amounts substantially higher than originally projected and, at plan confirmation, was appointed as Plan Trustee.  DSI undertook a claims analysis that resulted in a near 40 percent reduction in the claims pool and pursued litigation and collection of preferential transfers.  The Plan Trustee also initiated litigation against certain professionals and against company directors and officers in a matter that resulted in a successful settlement.  Upon approval of the final distribution, the Bankruptcy Court judge noted that DSI successfully took a near zero distribution case and, in the end, provided a meaningful distribution to the general unsecured creditors.