ROSEN SEYMOUR SHAPSS MARTIN & COMPANY LLP
Certified Public Accountants & Profitability Consultants
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RSSM Industry Service Groups

Business Investigative and Insolvency Group

RSSM’s Business Investigative and Insolvency Services Group is comprised of 5 specialty units that work both independently and in support of each other.

  • Bankruptcy and Insolvency
  • Forensic Accounting
  • Litigation Support
  • Business Valuation
  • Mergers and Acquisitions

It is our team approach to an engagement and our expertise that contribute to the ongoing success of each unit.  Our role is to develop innovative strategies that lead to successful results for all of our clients.

Bankruptcy and Insolvency

To successfully conclude a bankruptcy matter requires financial and business acumen to identify and analyze the significant issues in a case.  RSSM’s group of bankruptcy experts have worked successfully with attorneys and other advisors to create strategies that have satisfactorily resolved situations initially deemed intricate, imposing and irreparable.

We are often called upon for advice in the early, pre-bankruptcy planning stage.  Management and the other financial and legal advisors are appreciative of this service, as we have been able to develop financial plans that avoid formal bankruptcy filings. 

Where a formal procedure cannot be avoided, our early involvement assists the attorneys in creating a complete and satisfactory plan of workout for presentation and acceptance by the court and creditors.  As part of our services, whether it is a formal plan or informal one, we continually monitor and evaluate the adequacy of the collateral and the debtor’s ability to service the debt associated with the bankruptcy.

Our expertise in bankruptcy management extends to all parties in a bankruptcy – the trustees, debtor-in-possession and the unsecured creditors.  RSSM provides a wide variety of services that include:

For the Debtor

  • Assist in the preparation of Chapter 11 petitions and schedules and statements of financial affairs
  • Compile monthly operating reports for the court
  • Analyze and reconcile proofs of claims
  • Study disbursements to identify preferential payments and/or fraudulent conveyances
  • Advise and assist in the formulation of reorganization plans
  • Perform liquidation analyses
  • Project the tax consequences of proposed transactions in a reorganization plan

For the Creditors and Bankruptcy Trustees

  • Review and analyze financial results of the operations both before and after filing the petition of bankruptcy
  • Evaluate and assist in the formulation and negotiation of reorganization plans
  • Verify secured claims
  • Analyze and reconcile proofs of claims
  • Study disbursements to identify preferential payments and/or fraudulent conveyances
  • Project the tax consequences of proposed transactions in a reorganization plan

Forensic Accounting and Litigation Support

The RSSM team has the expertise to help management and their advisors discover how and why transactions occurred as well as who originated them.  We work with counsel in investigating allegations of impropriety by carrying out functions including:

  • Unraveling complicated transactions
  • Building a map of events from incomplete or concept data
  • Developing and applying assumptions that can withstand examination in court
  • Identify or verify visual evidence
  • Tracing the movement of funds or assets
  • Evaluating and investigating corporate governance issues
  • Preparing reports for management, an audit committee or counsel

We have provided these services, as well as expert witness testimony in civil matters (including contract disputes), proceedings against management, mergers and acquisitions, damage computations, libel actions, investigations by news organizations, misuse of funds, bankruptcy, insurance claim disputes, equitable distribution conflicts, professional malpractice cases, stock churning, matrimonial disputes and other legal and accounting matters.

In criminal investigative matters, we have participated in fraud cases involving federal income taxes, bankruptcy, commodities trading, securities, tax shelters, as well as commercial bribery, embezzlement and product theft.

In the current technological age fraud has become more sophisticated. We stay up-to-date through continuous training and study of the latest techniques used to help combat white-collar crime.  

Business Valuation

RSSM has been providing business valuation services to publicly and privately held businesses for more than 10 years throughout the United States and Europe including Fortune 100 companies. With expert business skills and exceptional valuation knowledge, we offer business valuation services to both public and privately owned companies which require such services for a variety of reasons including:

  • Tax Valuation
  • Business Transactions
  • Intangible Assets
  • Bankruptcy Reorganizations and Dissolutions
  • Strategic Business Planning
  • Litigation/Arbitration
  • Minority Interest Discounts
  • Estate and Succession Planning
  • GAAP Financial Statement Disclosures

Business valuation is a complex process requiring broad knowledge of finance and business, expert application of recognized valuation methodologies, and diligent adherence to professional standards. It is an art, rather than a science, in which sound business judgment based on solid experience in the discipline is of utmost importance.

Our valuation professionals are experienced, tested and certified by both the American Society of Appraisers and the American Institute of Certified Public Accountants.

In valuing business assets for our clients in conjunction with estate planning, and/or in anticipation of a potential merger or acquisition, we take a comprehensive approach.  We look at the elements that will determine the best value.  These include a detailed review of a business and its history, the financial condition of the company and the economic outlook of the industry in general, as well as the company’s metrics.  By analyzing “the big picture,” RSSM’s professionals provide clients with accurate and relevant planning tools.

Mergers and Acquisitions

The purchase of a business is a major endeavor.  In the process, significant decisions need to be made in order to ensure the best structure for you and the long-term success of the acquisition.  A critical part of the process and one which goes a long way in determining the long-term success of the transaction, is financial due diligence.

At RSSM, we view due diligence as much more than a brief visit to the target.  It is an evolving process from the client’s letter of intent through the closing.  We work closely with you on developing the appropriate focus areas for due diligence and then apply our expertise in identifying problem areas and minimizing your risk in the transaction.  We have extensive experience with due diligence and have worked with many private equity groups and other buyers on transactions ranging from small(er) acquisitions to large(r) multi-national transactions spanning many industries.

As always, our approach is comprehensive; bringing experienced professionals with the right business acumen tailored to a particular transaction, thus effectively and efficiently minimizing risk.

For information contact:

Bankruptcy and Insolvency
Robert A. Modansky
(212) 303-9027
rmodansky@rssmcpa.com

Mark C. Peltz
(212) 303-9003
mpeltz@rssmcpa.com

Forensic Accounting and Litigation Support
Alfred M. Pruskowski
(212) 303-9009
apruskowski@rssmcpa.com

Business Valuation
Alfred M. Pruskowski
(212) 303-9009
apruskowski@rssmcpa.com

Mergers and Acquisitions
Martin L. Greenberg
(212) 303-1822
mgreenberg@rssmcpa.com

Gabriel G. Lengua
(212) 303-1090
glengua@rssmcpa.com

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