Michael Cronin Email & Phone Number

United States

San Jose, California, Us

Manage orderly wind-downs, liquidations, formal and informal dissolutions.Serve as Assignee in Assignments for the Benefit of Creditors (ABCs)

Bethesda, Maryland, Us

Vienna, Va, Us

Ravix Group project. Orderly wind-down and liquidation.

Ravix Group project, managing the company's orderly wind-down.

Redwood City, Ca, Us

Louisville, Colorado, Us

Ravix Group project.

Redwood City, California, Us

Project through Ravix Group, managing the orderly wind-down of company following sale of its assets.

San Francisco, California, Us

Ravix Group project, managing the company's orderly wind-down and liquidation.

Larkspur, California, Us

Ravix Group project, managing the Intellectual Property sales, orderly wind-down, and liquidation of the company.

Ravix Group project.

A Ravix Group project. Managing the orderly wind down and liquidation of Inxent, Inc.

Malvern, Pennsylvania, Us

Ravix Group project. Managed Teachscape's orderly wind-down and liquidation.

Project: Diablo Management Group. The Thomas Kinkade Company oversaw the reproduction and sale of photolithographs, collectibles, and decorative accessories inspired by the works of Kinkade. As Plan Agent, responsibilities include: - management of $9M in allowed claims, - cash disbursements, - claimant relations, - monitoring and protection of Plan collateral, and dispute resolution. - Handling of all receipts and disbursements associated with Quarterly distributions. - Report to Reorganized debtor and respond to all creditor inquiries.• A similar Escrow Agent role was performed for Urban Media, Inc., managing the receipts and disbursements of a 3-year, 6-party, $10M escrow account.

Us

Assume project-based leadership roles, specializing in hands-on management of distressed companies valued between $3M and $2B. Clients typically consist of venture-backed technology businesses in a cross-section of industries. Responsibilities generally include assuming fiduciary responsibility for financially distressed companies, implementing formal and informal liquidation plans, and executing the sale of intellectual property and other strategic assets. Regularly given sole management of projects. Tasked with selection and management of teams of up to 45 ex-employees, financial analyses, company and project level budgets, identification and solution of HR and legal issues, development and implementation of operating plans and management of creditor and stakeholder relations. Retained and supervised consultants, auditors, CPA’s and attorneys required for client projects. • Directed or participated in 35 turnaround and workout projects for clients within a wide-range of industries, including software, manufacturing, medical devices, semi-conductor, data warehousing, entertainment, business lending and Internet B2B and B2C. Businesses and stakeholders located throughout North America, Europe and Asia.• Developed, won approval for and implemented solutions involving budgeting, cash flow management, debt restructuring, intellectual property sales, human resources, asset disposition, critical vendor issues and regulatory compliance.• Directed or participated in the evaluation, marketing and sale of intellectual property, including patents, software and other assets with an aggregate book value exceeding $500 million.• Skillfully advised and worked with management on operational, restructuring and insolvency issues.• Evaluated often conflicting interests, claims, and security positions related to lenders, government, employees and vendors. Handled negotiations, litigation support and settlements resulting from claims.

Us

Novafora was a $12 million privately-held fabless semiconductor company specializing in Video Processing. Company was unable to raise additional capital and was in default on its debt obligations.- Retained as Assignee to sell intellectual property and tangible assets, using the proceeds to settle company debts. - Evaluated IP marketing options and selected team, created incentive structure, and managed successful marketing efforts. Closed three separate IP sales, and returned 100% to all creditors of the subsidiary and to the first tier of parent’s senior debt. Handled all creditor, shareholder, tax, and legal matters for the estate.• Similar Assignee roles were held for the ABCs of Oakville Grocery Company, Inc. and Webware, Inc.

CLI was in the business of originating, brokering, servicing and selling residential mortgages.Responsibilities included:- Managing bank relations and seven debtor-in-possession accounts, - Authorizing and executing all payments made by the estate, - Tracking all receipts and disbursements data in QuickBooks, - Preparing of all Monthly Operating Reports (“MORs”), the Disclosure Statements and Liquidation Plan.- Worked directly with the US Department of Labor on 401(k) compliance and termination issues.

Houston, Texas, Us

A privately-held developer of data analysis and visualization solutions for technical and scientific communities.Functioned as Cash Manager for the struggling software company: • Responsible for monitoring daily receipts and making payment decisions,• Creditor negotiations, establishing 60 payment plans• Prepared corporate budgets and helped determine all disbursement decisions for the cash-strapped entity.• Served as liaison between the company and the IRS, structuring and administering a $200K repayment plan. • Communicated cash decisions to various corporate departments.

•Design and implementation of business information systemsProject highlights: • Budgeting system for British Columbia Gas, BC, Canada• Accounts Receivable Systems for Univar – Seattle, WA

Oakland, Ca, Us