Services

What we prepare

Six deliverables cover most of what a Subchapter V or Chapter 11 case asks of the debtor's finance function. For each one: what you receive, what we need from the debtor, and when it is due in the case.

13-week cash flow forecast

Used for

First-day and cash collateral motions, DIP budgets, weekly variance reporting

When

Petition week, then weekly

You receive

Weekly receipts and disbursements by category, thirteen weeks forward, with opening and ending cash tied to the bank
Assumption sheet the reviewer can check: collection curve from the aging, payroll calendar, rent and tax dates, professional fees
Actual-versus-forecast variance each week with a one-line explanation per material variance

We need

Bank statements, A/R and A/P agings, payroll register, lease and debt schedules, the current budget if one exists.

Sample

Sample 13-week model (PDF, 12 pages), illustrative composite, not a client

Monthly operating report

Used for

Reporting under §308 and Rule 2015(a)(6) on Form 425C, or UST Form 11-MOR outside the small business track

When

Every month of the case

You receive

Completed Form 425C or UST Form 11-MOR with every exhibit the form calls for: receipts, disbursements, unpaid post-petition bills, receivables, professional fees
Bank reconciliation for each account, so cash on hand on the report ties to the statements
Projected-versus-actual comparison carried forward month to month, as the form requires

We need

Bank statements, general ledger or QuickBooks access, prior month’s report, the case’s reporting orders.

Note

Local rules and the U.S. Trustee’s regional guidelines set the due date and supplemental documents. We calendar the earlier of the two.

Report only

Monthly report only, $1,500 a month: monthly operating report service (Form 425C)

Sample

Sample MOR package: Form 425C with Exhibits A–F (PDF, 14 pages), illustrative composite, not a client

Cash collateral and DIP budgets

Used for

Motions and orders under §363 and §364, lender consent, budget compliance reporting

When

First weeks, then per order

You receive

Budget in the line-item format the lender and the order require, with the permitted variance stated
Compliance certificate or variance report on the schedule the order sets
Reconciliation of the budget to the 13-week forecast and the monthly operating report, so the three documents tell one story

We need

Proposed or entered cash collateral or DIP order, lender’s reporting requirements, the 13-week forecast.

Plan projections and feasibility

Used for

Feasibility under §1129(a)(11); for a nonconsensual Subchapter V plan, the disposable income and ability-to-pay requirements of §1191(c) and (d); the best-interests test under §1129(a)(7)

When

Plan filing and confirmation

You receive

Projected income statement, balance sheet, and cash flow for the plan term, monthly in year one and quarterly after, with plan payments as their own line
Written assumptions tied to the debtor’s filed operating reports and pre-petition history
Liquidation analysis and, for a nonconsensual Subchapter V plan, the disposable income calculation
Sensitivity cases showing the plan still funds under a stated downside

We need

Plan term sheet or draft plan, claims register, the operating reports filed to date, tax and lease information.

Sample

Sample plan budget model (PDF, 7 pages), illustrative composite, not a client

Lender, trustee, and committee reporting

Used for

Periodic reporting required by orders, Subchapter V trustee monitoring, committee information requests

When

As ordered

You receive

Reporting package on the cadence the order or the trustee sets, built from the same ledger as the monthly operating report
Responses to information requests with the source document referenced

We need

The orders and requests themselves, plus the books.

Retention paperwork

Used for

Application under §327, disclosure under Rule 2014, engagement letter, proposed order

When

At engagement

You receive

Declaration of disinterestedness and connections under Rule 2014, engagement letter with scope and compensation terms, proposed order, all in a form counsel can file
Time records and fee applications under §330 and §331 in the form the court and the U.S. Trustee require

We need

Creditor matrix and list of parties in interest for the connections check.

Fees

Fees are fixed by deliverable and set out in a one-page scope before work begins.

Setup
Fee
$4,500, once
What it covers
The first 13-week cash flow model, the cash collateral budget, and the monthly report set up with opening balances and exhibits. About two weeks from the day we have complete records. If a first report or a cash collateral budget is due sooner, tell us the date and we start with that document.
Monthly
Fee
$2,500 a month
What it covers
Form 425C with its exhibits (UST Form 11-MOR in a case that is not a small business case), the 13-week model updated every week, and the forecast-to-actual variance report.
Plan projections
Fee
$4,500, once
What it covers
Projections for the plan term, written assumptions, the liquidation analysis, and a downside case.
Monthly report only
Fee
$1,500 a month
What it covers
Form 425C with its exhibits, the next-month projection the form asks for, and a bank reconciliation for each account. For a case with no cash collateral order and no lender asking for a weekly budget.

Item	Fee	What it covers
Setup	$4,500, once	The first 13-week cash flow model, the cash collateral budget, and the monthly report set up with opening balances and exhibits. About two weeks from the day we have complete records. If a first report or a cash collateral budget is due sooner, tell us the date and we start with that document.
Monthly	$2,500 a month	Form 425C with its exhibits (UST Form 11-MOR in a case that is not a small business case), the 13-week model updated every week, and the forecast-to-actual variance report.
Plan projections	$4,500, once	Projections for the plan term, written assumptions, the liquidation analysis, and a downside case.
Monthly report only	$1,500 a month	Form 425C with its exhibits, the next-month projection the form asks for, and a bank reconciliation for each account. For a case with no cash collateral order and no lender asking for a weekly budget.

Setup, six months of monthly work, and plan projections come to $24,000.

Testimony and hearing attendance by video, where the court permits it, on the documents we prepared, are included. If the court requires us in person, court time is billed at $375 an hour, travel time at half that rate, and travel costs at cost with receipts.

The debtor, through counsel, applies to the court to retain us under §327 as its financial advisor. The fees are disclosed in that application and are subject to court approval; the application asks the court to approve the fixed fees under §328(a). We prepare the Rule 2014 declaration, the engagement letter, and the proposed order, and we keep time records throughout the case.

Fees are paid by the estate on fee applications the court approves, on the schedule the court sets. Any retainer is stated in the scope and held until the court allows payment.

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