Picone Advisory Group negotiates reorganization plan for international consortium
After filing for bankruptcy, an international consortium of U.S., Russian, Norwegian, and Ukrainian members engaged in the commercial satellite launch business hired Picone Advisory Group to serve as the chief restructuring officer during the bankruptcy proceedings. Chris Picone was then elected as a member of the board of directors of the reorganized company.
Restored communications and credibility with the court and the unsecured creditors committee.
Negotiated settlements of customer and vendor claims in excess of $2.4 billion.
Arranged for several tranches of DIP financing.
Negotiated new contracts with customers, suppliers and partners.