Biggs & Co. : Bankruptcy and Trustee Support Services

Managing Partner, Samuel R. Biggs, has nearly twenty years experience in matters of insolvency, serving as a bankruptcy trustee and court appointed receiver, and assisting troubled companies. During this period he has operated numerous companies through their successful reorganizations, among which include a manufacturing company, a janitorial and industrial cleaning company, membership RV parks and commercial real estate developments. Mr. Biggs has also worked with several apparel companies in business turnaround situations or in liquidations. Mr. Biggs was appointed to the panel of bankruptcy trustees for the Central District of California in 1989. As a federal bankruptcy trustee, Mr. Biggs administered over 12,000 bankruptcy cases ranging from individual consumer matters to real estate, litigation and commercial business cases with several million dollars of assets each.

In his capacity as trustee, Mr. Biggs has valued and negotiated sales of numerous real estate assets, including single family residences, commercial properties, investment land and apartment buildings. He has also valued and negotiated the sale of numerous operating businesses and business assets. Most of these sales have been conducted through private negotiation but others have involved public auction.

Below are some of the more high profile cases in which Biggs & Co. has been engaged.

Standard Quality, Inc. dba Alaco Ladder Samuel R. Biggs, Chapter 11 Trustee

Alaco is a manufacturer of ladders with sales volume of approximately $2 million per year. As Chapter 11 Trustee, Mr. Biggs operated Alaco for approximately 4 years. He also managed its operations under its plan of reorganization until priority taxes and bankruptcy administrative expenses were paid. During the administration of this company, Mr. Biggs restored Alaco's operation to profitability and generated cash to liquidate over $500,000 in creditor and administrative claims. Mr. Biggs marketed and sold this business as a going-concern operation at a competitive auction through the Bankruptcy Court, and realized sufficient cash to liquidate all creditor obligations and pay substantial funds to the former shareholder.

Olympic Collection

Mr. Biggs was appointed Chapter 11 bankruptcy Trustee of this high profile commercial center in West Los Angeles. Mr. Biggs operated this facility for approximately 1 1/2 years, during which time settlement agreements for debt restructure were negotiated with secured lenders. This business was successfully reorganized under a plan of reorganization and continues as a viable business operation.

LanguageForce, Inc.

Biggs & Co. was engaged to assist with the Chapter 11 bankruptcy filing and reorganization of LanguageForce. Biggs worked with the company's comptroller to prepare the emergency petition, schedules and statement of affairs, as well as to prepare the U.S. Trustee compliance package. Biggs provided Debtor-in-Possession comprehensive consulting, accounting, tax and bankruptcy support services. Work was performed to assist in the pre- petition planning and development of insolvency financial strategies and plans, develop cost-cutting and management actions to achieve break-even or positive cash flow, prepare bankruptcy reports and accountings required by the U.S. Trustee, assist in defense of creditor actions, and prepare financial information for the disclosure statement and plan of reorganization.