Financial Advisory

Our financial advisory services are usually provided on behalf of banks’ special asset departments, portfolio managers of asset based lenders or equity holders. These services are each distinct and vary widely in scope, but are generally associated with a distressed business.

Collateral Monitoring

Our collateral monitoring and business assessment services are generally provided to lenders, in conjunction with counsel, who desire a clear understanding of a company’s overall financial situation and the collateral. These services can be provided in the form of a simple audit of the borrowing base, such as accounts receivable, inventory or even equipment. At a more detailed level, we also perform a full assessment of the borrower’s situation, including search for additional collateral, operations, cash flows, financial obligations and prospects for new capital. We then prepare a full report to the lender. This report is designed to assist the lender is designing a forbearance agreement that maximizes the recovery for the lender. Once the lender has determined a course of action, we also can perform ongoing monitoring services that provide oversight and credibility to a situation when the lender is concerned about the borrower’s use of collateral. Our collateral monitoring services include:

  • Borrowing Base Audits
  • Collateral Checks
  • Onsite Daily Monitoring

Litigation Support & Expert Witness Services

For over 35 years, Warren Averett has supported its clients and the business community with expert, professional and confidential forensic accounting and litigation services. Our job is to analyze, interpret, summarize and present complex financial and business related issues in a manner which is both understandable and properly supported.

Our Focus

We utilize accounting, auditing and exploratory skills when conducting an investigation.

We understand that is it essential to respond immediately and to communicate financial information clearly and concisely in a courtroom setting. Several of our senior Members are frequently called upon to provide expert witness testimony. Their expertise and judgment are relied upon in court to help attorneys prove or defend complex areas of tax law, or often, to give their opinion on the validity of a business' financial statements or financial condition. Our Members maintain a high level of personal involvement in every litigation support engagement.

Our Expertise

  • Fraud investigations
  • Cash disbursement analysis
  • Systems review
  • Loss of earnings investigations
  • Embezzlement examinations
  • Cost profit damage estimations

Our Services

  • Investigation and analysis of financial evidence
  • Development of computerized applications to assist in the analysis and presentation of financial evidence
  • Communication of findings in the form of reports, exhibits and collections of documents
  • Assistance in legal proceedings, including testifying in court as an expert witness and preparing visual aids to support trial evidence

Who we serve

  • Insurance companies
  • Corporations
  • Corporate executives
  • Banks
  • Attorneys

Receivership and Liquidation Services

Whether the situation involves a distressed commercial or industrial business, or a distressed real estate investment, our professionals, in the role of court appointed receivers, understand how to maximize the recovery for all stakeholders.

When considering the alternatives in a distressed business situation, it is best to avoid rushing into bankruptcy, as there are usually other options to consider. If an out-of-court arrangement is not feasible, and a formal controlled process is required, then a receivership is less invasive than bankruptcy. A properly conducted receivership provides a level and secure playing field based on the general ranking of creditor claims. And it can do so without unnecessary dissipation of asset values through time and costs. In a well-conducted receivership, any commercially reasonable outcome can be achieved – rehabilitation, sale or liquidation. This can be accomplished providing the same security to fresh advances as in bankruptcy, and without the attendant time and money issues inherent in bankruptcy. Four factors are of key importance: a competent and experienced receiver; legal counsel who understands insolvency and its urgency; open and thorough communication; and, in the case of a court appointment, a properly constructed order. Warren Averett has the competence and experience needed to serve as a receiver in complex situations.