Steven R. Gerbsman, Principal of Gerbsman Partners/Technology Recovery Group and Robert Tillman, a member of Gerbsman Partners Board of Intellectual Capital, announced today that Gerbsman Partners successfully terminated the equipment lease obligation for a leading storage networking company.
The venture capital backed company executed an equipment lease agreement for capital equipment. Due to market conditions, a refocus of the business model and faced with a potential contingent liability of $ 3 million, the company retained Gerbsman Partners to assist them in the termination of the equipment lease obligation.
Gerbsman Partners provided:
- Crisis Management expertise in developing the strategy and action plan for the termination of the equipment lease;
- Proven negotiating capability/leadership with lessor;
- The ability to "Manage the Process" among Board members, Lawyers, senior lenders, landlords, management & advisors;
- The proven ability to " Drive " toward successful closure for all parties at interest.
Gerbsman Partners/Technology Recovery Group focuses on maximizing stakeholder and shareholder value for under-performing, under-capitalized and under-valued companies and their Intellectual Property.
In the past 18 months, Gerbsman Partners has restructured/terminated over $ 400 million of real estate executory contracts and equipment lease/sub-debt obligations.
Gerbsman Partners/Technology Recovery Group has offices and strategic alliances in North America, Europe and Israel.