Prime Clerk, a Kroll Business, has been named a winner of the M&A Advisor 15th Annual Turnaround Awards, recognizing those that reached the pinnacle of the distressed investing, bankruptcy, and restructuring industry over the past year.
Prime Clerk has been recognized for our role in the Chapter 11 reorganization of Frontier Communications with the following firms:
- FTI Consulting
- Frontier Communications
- Kirkland & Ellis
- CMA Strategy Consulting
- Joele Frank
Winners were selected from among hundreds of nominations in category groups including Restructuring of the Year, Transaction of the Year, Refinancing of the Year, Sector Deal of the Year, Firm of the Year, Turnaround Product/Service of the Year and Professional of the Year. Evaluation of the nominees and selection of the winners was completed by prominent members and experts in the M&A, finance, and turnaround community.
Prime Clerk’s Role in the Frontier Matter
Prime Clerk served as the claims, noticing and solicitation agent for Frontier and its subsidiaries in their Chapter 11 cases. In support of Frontier’s Chapter 11 plan, Prime Clerk administered a complex plan solicitation, which included public and registered securities with approximately 600,000 equity holders, and involved multiple voting deadline extensions, as well as the provisional solicitation of certain noteholder classes who were originally unimpaired under the plan.
Given the large number of public security holders, Prime Clerk assisted an especially high volume of parties with their inquiries covering a spectrum of concerns related to the cases. Prime Clerk’s case information website, which includes access to all court documents and various other information, received hundreds of visitors per day. Moreover, Prime Clerk assisted in compiling the Statements of Financial Affairs and Schedules of Assets and Liabilities for the approximately 100 debtors. Finally, Prime Clerk processed over 3,400 claims filed against the Frontier debtors and executed numerous large mailings to all creditors and parties in interest over the course of the cases.
“These award winners represent the best of the distressed investing and reorganization industry over the past year,” said Roger Aguinaldo, Founder of the M&A Advisor. “We are in an environment that has seen whole industries, such as retail, restaurants, leisure and hospitality experience depression-like effects. Despite it all, these professionals have helped companies during these difficult times. We recognize these leading transactions, firms and individuals that represent the highest levels of performance.”
About Prime Clerk, A Kroll Business Services
Prime Clerk, part of Kroll’s Business Services division, is the leader in global, end-to-end restructuring administration services. Kroll is the world’s premier provider of services and digital products related to governance, risk and transparency. We work with clients across diverse sectors in the areas of valuation, expert services, investigations, cyber security, corporate finance, restructuring, legal and business solutions, data analytics and regulatory compliance. Our firm has nearly 5,000 professionals in 30 countries and territories around the world. For more information, visit www.krollbusinessservices.com.
About The M&A Advisor
Founded in 1998, The M&A Advisor has built a leading global network of M&A, turnaround, and finance professionals across domestic and international deal making. Recipients of its prestigious awards are among the most respected financial professionals around the world. During the past two decades, M&A Advisor has established a legacy of showcasing emerging leaders, connecting pillars of the profession, and recognizing achievement throughout the community. www.maadvisor.com