NGA Role
• NGA having recently completed the liquidation of Phoenix Formations was sought for this engagement of a similar business.
• NGA was engaged as liquidation agent for the secured lender to this defunct business in order to maximize the recovery of asset value.
Problem
• Trade Show Display Company was shut down when NGA was engaged.
• Secured lender needed assets sold, removed from the leased premises and the leased premises turned back to the landlord.
NGA Solution
• NGA solicited proposals from auctioneers and selected the auction company.
• NGA aided the auction company in identification all valuable assets, including software contained on certain of the Trade Show Display Companies computer systems that could be sold.
Outcome
• NGA obtained a substantial recovery for the secured lender who was very pleased with the net recovery from these idle assets.
