Meet our Consultants
|Business Description:||A manufacturer of wireless phone equipment designed to provide wireless local loop service in regions of the world that are underserved by traditional phone lines.|
|Business Problem:||Ongoing financial losses coupled with the inability to raise additional capital forced it to halt all operations. The company left more than $10M in debt and a 10 year lease obligation on a 40,000 square foot facility. Diablo Management Group (DMG) assumed fiduciary responsibility of Adicom in April 2001 and immediately notified all creditors and shareholders.|
All hard assets were used as collateral for equipment leases and cash loans. To address the concerns of these secured creditors, the return of leased equipment and the sale of lien free hardware was immediately undertaken.
A creditor committee was established to reduce the threat of an involuntary bankruptcy filing by creditors.
All creditors were contacted to reconcile and confirm trade payables.