Independent Fiduciary Services
Independent Board Member
- VRS personnel routinely serve as independent board members of distressed companies.
- We approach the Independent Board Member role much the same as our CRO engagements, seeking to maximize value for the fulcrum security and mitigate stakeholder risk, making fully informed decisions acting in good faith.
- We are well versed in “zone of insolvency” issues where shifting fiduciary duties complicate board decisions.
- Where a more day-to-day hands-on approach is necessary, VRS also often serves as both CRO and Independent Board Member.
Creditor Trustee & Liquidating Trustee
- In out-of-court liquidations, VRS often serves as creditor trustee receiving trust income, reconciling creditor claims and distributing trust assets to beneficiaries.
- VRS also routinely serves as a Liquidating Trustee following confirmation of a chapter 11 plan of liquidation. In this role, VRS administers the liquidating trust and often pursues causes of action that arise under chapter 5 of the U.S. Bankruptcy Code, as well as causes of action that arise from VRS’ investigation of the facts and circumstances that precipitated the bankruptcy filing.
- The VRS team provides financial advisory support to the trustee, often conducting forensic accounting analyses, solvency analyses and valuation analyses.
- The VRS team is also experienced in authoring solvency expert reports, providing litigation support services and testifying in insolvency related litigation.