BANXQUOTE Rx offers quick alternative solutions to both private and public companies nationwide that are facing mounting debt obligations or cash flow problems, and may be unaware of their strategic options. We know how to reduce and restructure various categories of business debt, and how to restore or improve liquidity within the shortest possible time frame. Our service is highly personalized with a focus on discretion, value and speed.
While most financial restructuring practitioners charge for their services on an hourly basis with upfront retainers, BANXQUOTE Rx offers one of the most affordable and innovative fee structures in the industry:
- OUR COMPENSATION IS BASED ON SUCCESS.
- Type of Clients: Private and public companies in financial distress.
- Who Hires Us: Company principals, creditors or prospective acquirers.
- Crisis Level: Insolvency, mounting debt, pre-bankruptcy.
- Location: Anywhere in the United States.
- Type of Industry: All industry sectors.
- Minimum Assignment: Debt portfolios of at least $3 million or more.
ACT NOW: Call 212-557-9100 or email rx@banx.com.
|
|
The principal focus of modern insolvency legislation and business restructuring practices no longer rests on the liquidation and elimination of insolvent entities but on the remodeling of the financial and organizational structure of debtors experiencing financial distress so as to permit the rehabilitation and continuation of their business through the development of viable restructuring and recapitalization plans.
Our priority is to negotiate on behalf of our client for an immediate and rapid settlement of all delinquent or excessive debt. Quick action is essential to ensure that any overdue debt does not deteriorate into legal proceedings that can lead to protracted litigation involving costly legal fees and expenses.
Our workout process involves a combination of debt reduction and restructuring, which are the key conditions to ensuring a client's survival and quick return to liquidity.
Our success is attributed to our open and non-adversarial approach and our ability to define and set realistic and mutually agreeable deadlines, retructuring and recapitalization plans that benefit all stakeholders.
The insolvency and restructuring practitioners at BANXQUOTE Rx specialize in assisting businesses facing liquidity problems. As an outside third party, we have the ability to properly and objectively assess your financial restructuring needs and quickly prescribe and implement the proper remedies.
In the case of excessive or delinquent debt, we negotiate directly with bankers, creditors and vendors to restructure and reduce our client's debt, creating repayment and debt settlement plans that are acceptable to all parties. For instance, we may offer to pay our client's creditors a discounted amount over time, or we may offer to repay 100% of the debt while obtaining a forbearance or moratorium before payments begin. The idea is to create a win-win situation for all stakeholders. Our clients win because they survive intact. The creditors win because they are paid at least some of what they are owed, whereas in a bankruptcy they would probably receive next to nothing.
ACT NOW: Call 212-557-9100 or email rx@banx.com. |
We Provide Credibility. Over the past two decades we have built solid and deep-rooted working relationships with most of the leading financial institutions and hundreds of companies in various industry segments throughout the United States, developing an impeccable reputation of integrity in the banking and financial markets.
We Take Direct and Determined Action. We are not passive advisors merely providing fancy presentations and recommendations. We will actively negotiate with creditors on your behalf and work out payment programs that are fair, satisfactory and realistic to all stakeholders.
We Are Faster and Less Costly. Our financial restructuring services are faster, less costly, friendlier and more effective than traditional means of resolving monetary disputes. Our confidence in our ability to succeed in our financial restructuring assignments enables us to offer our service to our clients without any payment upfront or any minimum hourly or flat fees.
We Take Risks Along With Our Clients. Our compensation is subject to your success. In fact, our debt restructuring fees are contingent upon our performance.
Our Clients Stay in Control. Furthermore, we do not take, distribute or control the disbursement of client funds to satisfy debts with third parties. All third party debt settlements and payments to creditors are made by each client directly, allowing them to stay in control of their funds.
ACT NOW: Call 212-557-9100 or email rx@banx.com.
|
CASE I:
The Challenge |
The Solution |
The Results |
- Rapidly running out of cash and in danger of default
- Overdue contracts and delivery dates
- Proceeds from customer down payments unaccounted for
- Inability to procure raw materials, or pay
operating expenses
- Strained relationships with customers, lenders
and vendors
| |
- Led negotiations with creditors, vendors and customers
- Convinced 90% of customers to renegotiate contracts and accept price increases
- Rescheduled and extended contract deadlines
- Reduced debts and extended payment terms
- Reestablished credit lines with existing and new lenders and suppliers
| |
- Oversaw sale and transition to new owners
- Restructured debt
- Turned around and saved the company
- Company became well-managed and very profitable
| | | |
| |
CASE II:
The Challenge |
The Solution |
The Results |
- Serious liquidity crunch
- Communication breakdown among controlling shareholders
- Aging management and lack of leadership
- Steady loss of market share
- Antiquated machinery and equipment
- Poor quality control and standards
- Low employee morale
- Difficult relationship with creditors
| |
- Developed and implemented out of court restructuring plan
- Negotiated waiver and forbearance agreements with creditors
- Reduced debts and extended payment terms
- Reestablished credit lines with existing and new lenders and suppliers
- Reduced production costs by eliminating chronic overtime
- Discovered and eliminated internal fraud
| |
- Restored liquidity
- Restructured and settled delinquent debt
- Turned around company finances
- Oversaw workout and transition to new ownership and management
- Improved employee loyalty and reduced workforce and turnover
- Increased market share
- Company became well-managed and profitable
| | | |
| |
CASE III:
The Challenge |
The Solution |
The Results |
- Negative cash flow
- Management in disarray
- Three years of consecutive losses
- Senior lenders demand immediate action
- Difficulty meeting payroll and paying taxes
- Tense relationship with creditors and vendors
- Accounting firm and board members quit
| |
- Implemented fast-track workout program
- Convinced management to cut costs in every area
- Renegotiated main office lease and relocated to less costly facilities
- Renegotiated and reduced debt
- Persuaded banks to extend payment terms
- Prevented fraudulent conveyances
- Closed down unprofitable product lines
- Identified and disposed of non-core assets
| |
- Set realistic settlement deadlines agreeable to all stakeholders
- Restructured and reduced debt
- Quickly restored liquidity
- Stabilized core operations
- Preserved enterprise value
- Avoided legal proceedings and bankruptcy filing
| | | |
| |
|
Our experts can quickly implement restructuring and strategic options, helping you resolve challenging financial problems. Every business requiring debt restructuring is different. We focus on achieving a thorough understanding of each client's objectives, the type of business and products or services they offer, and the industry in which they operate.
|
Creditors realize that the longer it takes to settle past due business debts, the less they stand to collect. The probability of settling delinquent commercial debt falls dramatically over time, as follows:
After 3 months, collectability falls to 70%
After 6 months, collectability falls to 52%
After 12 months, collectability falls to 23%
Collectability statistics are based on a survey conducted by the Commercial Collection Agency Association among its members, who collectively handle about eighty percent of all commercial debt claims placed for collection in the United States,
|
Not only England but virtually all of Western civilization borrowed very heavily from the insolvency laws of ancient Rome. As the Roman economic empire grew, the ancient Romans found it necessary to periodically reexamine their laws governing insolvency, in order to keep the extension of credit freely flowing and mitigate the consequences of default.
Business practices and legislation have evolved substantially over time. However, in this day and age the idea is to give the insolvent individual or business the chance to shed their debt burden and make a clean start.
We specialize in keeping our clients outside of bankruptcy court, while providing most of the relief associated with a Chapter 11 bankruptcy filing. A bankruptcy filing also leaves you with the worst possible credit rating and is very public and rigid. Ultimately you are at the mercy of a rigid court system and a court-appointed trustee who decides which creditors get paid and how much they get paid, while you end up losing control.
To avoid bankruptcy, we can quickly and discretely implement a negotiated workout program with your creditors. In the process, we will reduce and restructure your corporate debt and position your company for a rapid return to liquidity. This will enable your business to reap most of the benefits of a bankruptcy filing without suffering serious social, legal and economic consequences. |
|
ADD-ON SERVICES
Business restructurings and turnaround situations involving organizational and cultural change sometimes require experienced leadership on an interim basis, which BanxCorp can provide as an add-on service.
Through our deep resource pool comprised of over 500 C-level executives across all management disciplines nationwide, we can deliver business value beyond the traditional management consulting approach through a select talent pool that has "lived the experience" you and your teams will need to go through. This experience enables our senior executives to immediately fill critical leadership vacancies, and not only identify issues impacting your business, but to also address them and implement solutions.
|
|
If your business is facing a liquidity crisis you have two options: rehabilitation, or liquidation (bankruptcy).
To restore liquidity and rebuild your business, consider the following:
- Get Competent Outside Help: Your business is in trouble, but your optimism may be a virtue that stands in the way of a successful turnaround. Empirical evidence proves that when companies outsource restructuring work to experienced outside professionals such as BANXQUOTE Rx, typical results and savings from restructurings are two to three times greater than those achieved on their own.
- Act Quickly. Speed Gives You Options: Failure to act immediately drastically reduces your options and chances of success. The earlier we start and the faster we move, the more freedom we have to fix your financial problems.
|
|
Sleep well and enjoy a healthier life.
Avoid bankruptcy.
Satisfy debts based on what you can afford.
Reduce debt and extend payments over time.
Spend less time dealing with debt collectors.
Spend more time running your business.
Keep your doors open and retain control.
Avoid unnecessary legal fees and distractions.
Balance your budget and manage cash flow.
Rebuild your trustworthiness.
Preserve banking and vendor relations.
Restore vital funding and supply lines.
|
|
Being profitable does not necessarily mean being liquid. A company can become insolvent and fail because of a shortage of cash, even while profitable. Cash flow is crucial to an entity's survival. You can have the most formidable brand, product or service in the world, but if your business runs out of cash, you are bound to fail.
A business liquidity crisis can grow over time, only to be noticed when it may seem to be insurmountable or too late. Not addressing certain cash flow problems upfront, or simply hoping that they will get resolved on their own, is the best recipe for financial disaster. Furthermore, when tough decisions need to be made, fear or pride may stand in the way.
- ACT NOW: If you want to restructure your debt and turn around your business, call us at 212-557-9100 or email rx@banx.com.
|
|
According to many experts, financial stress can lead to physical and mental problems such as hypertension, sleeping and eating disorders. Stress created by overwhelming business debts can become unbearable and seriously affect a person's health and quality of life.
- Get Competent Outside Help: Your business is in trouble, but your optimism may be a virtue that stands in the way of a successful turnaround. Empirical evidence proves that when companies outsource restructuring work to experienced outside professionals such as BANXQUOTE Rx, typical results and savings from restructurings are two to three times greater than those achieved on their own.
- Act Quickly. Speed Gives You Options: Failure to act immediately drastically reduces your options and chances of success. The earlier we start and the faster we move, the more freedom we have to fix your financial problems.
- CALL NOW: If you want to restructure your debt and turn around your business, call us at 212-557-9100 or email rx@banx.com.
|
Is your business caught up in a debt spiral and you can't find a way out? If your company's debts are becoming overwhelming and bankruptcy seems like the last and only option left available, the alternative is a privately negotiated voluntary business arrangement which can benefit both you and your creditors.
We can help you restructure your business debt, settle delinquent accounts, restore liquidity, and turn your company around.
-
ACT NOW: If you want to restructure your debt and turn around your business, call us at 212-557-9100 or email rx@banx.com.
|
|
TRIVIA
"Robbing Peter to pay Paul" is an English proverb referring to borrowing or taking money from one party to pay a debt owed to a another party. It is widely assumed that this expression originated and became popular in England during the 16th Century, when money meant for Westminster Abbey, the traditional place of coronation and burial site for English monarchs which was dedicated to St. Peter, was diverted to the treasury of St. Paul's Cathedral.
|
|
