DeVlieg Creditors Committee

Division: Phoenix Capital Resources, Phoenix Management Services


DeVlieg Creditors Committee was the creditors committee during bankruptcy proceedings for a manufacturer of machine tools.


The Committee was concerned about its interests during bankruptcy and wished to validate the information pertaining to a stalking horse “363 Sale.”


Phoenix Management Services was engaged to represent the Creditors Committee with regard to a stalking horse bid. Through Phoenix’s actions, the Committee was able to extract a 10% premium from the stalking horse bidder.