Charles Goldstein
Managing Director
Direct: +1 410.783.6390
Mobile: +1 410.200.0557
Cases
CRO
- Serving as CRO of a payroll services company with operations in the US and Canada. Leading efforts to wind down operations.
- Served as CRO for a $200 million healthcare entity. Led company’s loan restructuring and refinancing efforts including advising company regarding its strategic direction and identifying various operational efficiency and reporting improvements.
- Served as CRO for a $400 million national emergency room operator (PhyAmerica), operating the entity through due diligence process and eventual sale to a competing operator.
- Served as CRO of a $30 million revenue enterprise risk analytics company and federal government contractor. Assisted company with it efforts to improve operating results as well as to lead activities to sell two operating units.
- Served as CRO for a $150 million government contractor. Lead company’s loan restructuring and refinancing efforts. In addition, led sell-side due diligence, advising company regarding its strategic direction, and various operational efficiency and reporting improvements.
- Served as CRO of Southern Vermont College, a small college in Bennington, VT. Lead successful effort to graduate or transfer all students while paying all faculty and staff expenses.
- Serving as CRO of an augmented reality entity with operations in the US and Europe. Leading wind down effort that has generated over $35 million in asset sale proceeds. Currently negotiating with various creditors prior to claim payments and distributions to equity holders.
- Serving as CRO for a property development and leasing company and leading efforts to sell owned real estate.
- Served as CRO for PhyAmerica, a $400 million national emergency room operator, operating the entity through due diligence process and eventual sale.
- Served as Interim President of NLS Animal Health, a $120 million distributor of veterinary products.
Fiduciary
- Served as Chapter 11 trustee for Manus Edward Suddreth, an individual who owned various business and real estate assets. Oversaw business operations and recovery actions that generated over $7 million in receipts. Currently overseeing claims objection process and anticipated liquidating plan filing.
- Serving as Plan Agent for People’s Community Health Center, a non-profit community health organization. Oversaw the liquidation of estate assets (including selling a membership interest in an entity in a partnership with Johns Hopkins Hospital) that generated over $4.0 million in receipts. Overseeing claim objection process with an anticipated payout in excess of 40% to unsecured creditors.
- Served as Chapter 7 Trustee for Just for Feet. Managed the liquidation of the former $750 million revenue corporation, disallowed $66 million in administrative and priority claims, identified over $600 million in duplicate or amended claims and collected over $31 million in preference recoveries. Additionally conducted an investigation into the company’s accounting practices which resulted in a cumulative recovery of over $80 million for the Estate. Lead Estate from administrative insolvency to a 22% payout to unsecured creditors.
- Served as Chapter 7 Trustee for Universal Marketing Inc. and five affiliated companies overseeing the consolidation of the affiliates and conducting an extensive review into the activities of the debtors including tracing in the amount of approximately $2B in cash disbursement activity.
- Served Chapter 11 Trustee for Chesapeake Family Practice Group, a medical practice with more than 10,000 patients.
- Serving as Plan Administrator and a director of the liquidating entities for NEGT-Energy Trading, overseeing the distribution of over $600 million to creditors. Led Estate from initial distribution estimates to allowed unsecured creditors of 20 to 30 cents eventual payoff of to 60 to 70 cents on the dollar.
- Served as Virginia State Court Receiver for The Disthene Group, Inc., a holding company whose wholly owned subsidiaries included a resort hotel, mineral mine, and timberland. Operated the mine and hotel while litigation was stayed. Led effort to provide current, relevant and sufficient financial and operational information to litigants that lead to a global settlement.
- Served as Chapter 7 Trustee for Just for Feet. Managed the liquidation of the former $750 million revenue corporation, disallowed $66 million in administrative and priority claims, identified over $600 million in duplicate or amended claims and collected over $31 million in preference recoveries. Additionally conducted an investigation into the company’s accounting and corporate governance practices which resulted in a cumulative recovery of over $80 million for the Estate. Lead Estate from administrative insolvency to a payout of 22% in allowed unsecured claims.
Transaction
- Assisting distribution company negotiate the sale of its business and provision of transaction support services.
- Assisted a large mid-west nonprofit medical practice and medical research group in the divestiture of its TPA.
- Led effort to sell partnership interest in a $1 billion revenue MCO co-owned by a national healthcare organization.
- Led investment due diligence teams in assessing transaction risks related to a home healthcare company.
- Advised regional fitness and health clubs, on a potential joint venture. Provided key transaction risks and detailed findings to support prudent deal economics.
- Led investment due diligence teams in assessing transaction risks related to a diabetes supply mail order entity.
- Lead sell-side effort for a $200 million revenue healthcare IT company.
- Lead effort to sell partnership interest in a $1 billion revenue entity co-owned by a national healthcare organization.
- Led sell-side due diligence for a healthcare company, advising company regarding its strategic direction, and various operational efficiency and reporting improvements.
- Led sell-side effort of a southeastern athletic club chain.
- Led buy-side due diligence for a northeastern athletic club chain.
- Advised investment group on financial matters in its potential acquisition of a professional sports team.
- Led buy-side due diligence of a southwestern home healthcare company.
- Led buy-side due diligence of a furniture manufacturer with production facilities in China.
- Led buy-side due diligence of a commercial loan portfolio entity.
Advisory
- Serving as advisor for property management restructuring effort.
- Served as restructuring advisor to a regional family fitness entity operating multiple centers. Lead effort to improve operations and refinance it working capital facility. Loan was purchased from the bank group that introduced me to the company.
- Advised a Fortune 100 insurance provider on numerous matters related to certain insurance policies for loans totaling in excess of $200 million. The policies covered 20 portfolios of loans related to 36 nursing home properties.
Litigation
- Served as the financial advisor to the Unsecured Creditors’ Committee and Trustee in Financial Mortgage Inc./Vijay K. Taneja a mortgage company/real estate developer. Conducted an extensive investigation into the activities of the debtors including the tracing of over $100 million of cash disbursements related to a mortgage fraud scheme.
- Conducted 25 year asset trace for Defendant in a multi-million dollar domestic dispute.
- Served as the damages expert witness for the Plaintiff, a hedge fund with over $500 million in assets under management. Prepared an expert report regarding damages associated with the Defendant’s bad acts. Also provided deposition testimony and assisted counsel with deposition preparation, provided rebuttal arguments, and assisted in settlement negotiations.
- Assisted the Trustee of the St. Vincent’s Catholic Medical Center Litigation Trust in litigation against various parties for causes of action including allegations of: failure to properly and reasonably restructure and/or provide for a timely Chapter 11 bankruptcy filing; engaging in improper negotiations and sale during the active engagement; engaging in improper billing practices during the engagement; and improper accounting and/or reporting of financial conditions.