Services
Team
Clients
Case Studies:
Oil and Gas
• Breach of Contract/Lost
Profits
• Environmental
• Valuation
• Intellectual Property
• Bankruptcy/Business
Reorganization
Coal/Extractive
Utilities
Alternative Energy
News
Energy Sector Home
Case Studies - Alternative Energy
Solar
Case Study A
Engagement
Gleason & Associates was appointed as Receiver by counsel for the largest shareholder in a solar power research operation. Gleason & Associates simultaneously worked on two tracks: one was to negotiate with the former managers and potential investors that they had located; the second was to arrange an auction of the assets. Based on the cost of maintaining the Receivership, an auction date was set, and the potential investors were given a deadline for completing their purchase. The potential investors were ultimately unable to successfully complete their funding arrangements, and the assets went to auction. The auction included both the intellectual property and the physical assets of the Company.
Gleason's Role
To keep open the possibility that the potential investors might be able to assemble the best offer, Gleason & Associates arranged for there to be a bulk bid option for all of the hard assets, as part of the auction. The winner of the bulk bid met with the former Company managers and decided to keep the business in operation.
Results
Gleason & Associate's efforts as Receiver resulted in success for stakeholders that exceeded the original plan. The Company succeeded in having the assets sold in an orderly manner as planned, but in addition, roughly 65% of the former employees were hired back to work in the facility.
Top of page
Why Gleason | Practice Areas | Meet Our Team | Case Studies | Continuing Education | Resources | Site Map | Contact Us | Home
© 2011 Gleason & Associates
One Gateway Center, Suite 525, 420 Ft. Duquesne Blvd., Pittsburgh, PA 15222, Phone: 412.391.9010,
