“I am not concerned that you have fallen; I am concerned that you arise.” – Abraham Lincoln
“The greatest accomplishment is not in never falling, but in rising again after you fall.
The real glory is being knocked to you knees and then coming back” – Vince Lombardi
Mr. Pico has consulted on upside-down positions of over $50 million, pure out-of-trust positions of over $4 Million and bank overdrafts of over $30 million.
ADVICE FOR LENDERS
Our “Out of Trust / OT” experience encompasses over five decades of consulting with lenders, dealers, attorneys and receivers with respect to workouts, recapitalizations and sales of troubled dealerships, both in bankruptcy and in receivership.
If you are a bank, finance company or other automotive lender, we have acted as the court appointed consultant to the receiver. We worked through a $30 million overdraft, a $10 million dollar fraud and completed a workout plan for a dealer that went on to be one of the top 20 groups in the U.S.
We have completed wind-downs of dealerships and have staffed stores with interim management.
We have faced issues of double-flooring and a plethora of more complicated fraud cases both on the part of the dealers and dealership employees.
If your car dealership is upside-down or out of trust and you need advice on how to survive the situation, we have provided help to SOT and upside-down dealers hundreds of times and would be happy to consult with you, your lender, your attorney and your accountant with respect to analyzing your situation and recommending courses of action.
The first step to a successful plan is honesty between the dealer and lender. Sometimes that is difficult for a dealer to accept without a qualified consultant. Please feel free to contact us for a discussion of our fee schedule.
As no two transactions are exactly alike, our broad experience enables us to adapt to complex situations where great damage could be caused by unskilled and less experienced consultants.
ers with respect to workouts, recapitalizations and sales of troubled dealerships, both in bankruptcy and in receivership.
