USfidelis

Situation

Amherst Partners acted as CRO and CEO for US Fidelis, the country’s largest marketer of vehicle service contracts. The company was in distress and was also being investigated by 42 state attorney generals, the U.S. Department of Justice, the IRS, and the Department of Labor.

Solution

For over a year, Amherst managed the affairs of the estate, wound down operations, managed receivables and customer service. Amherst also oversaw significant issues for the estate including liquidation of assets, taxes, affiliates, DIP, cash collateral financing, and coordination of legal investigations.

Amherst prepared the “expert witness” report that was used to drive an extremely favorable settlement.

Results

An undisclosed sum was recovered and the Company was liquidated without incident. Amherst also worked with numerous state Attorney Generals and other regulators to assist in their investigations.

Despite the complexity of the engagement, Amherst’s efforts led to a very cost-effective and efficient resolution of the estate’s matters.