Our Services | Litigation Support /Recent Engagements

Some of Seneca’s previous engagements include:

Crown Vantage, Inc.

• Seneca was retained by the bankruptcy trustee in the Crown Vantage, Inc. (“Crown” or the “Company”) bankruptcy to assess the duty and care of certain parties in the case in connection with the spin-off of the assets from James River Corporation of Virginia. Seneca prepared expert reports concerning the appropriate capitalization of Crown at the time of its spin, as well as the proper valuation of the Company. The case was recently settled.

Evergreen International Aviation Inc.

• Seneca was retained to act as a financial advisor and expert witness concerning a lawsuit, and consequent countersuit, between Evergreen International Aviation, Inc. (“Evergreen”) and a major investment bank over the work performed in a proposed restructuring of Evergreen’s debt structure and the entitlement of the investment bank to a fee. Seneca provided written reports to support the case that no fee was earned. The case was settled for an amount that was a fraction of the claims alleged in the litigation.

Winstar Communications

• Seneca was engaged by the Chapter 7 Trustee of the Winstar Communications (“Winstar”) estate as financial advisor and expert witness in litigation over the valuations of certain telecommunications equipment securing the lien of a major creditor. The case was settled at a level supported by Seneca’s valuation of the equipment, which was significantly lower than the original claim.

Charter plc

• Seneca was retained by Charter, plc (“Charter”) as an expert witness in its litigation with certain of its Note Holders. Charter, based in the United Kingdom, is a world leader in welding products, advanced cutting systems as well as in the design and manufacture of air and gas handling equipment with approximately $1.5 billion in annual revenues. The litigation arose when one of Charter’s subsidiaries disclosed reporting irregularities. Seneca provided a report covering corporate governance issues and the materiality of the issues involved to Charter’s outstanding indentures. The case was settled for a nominal amount.

PhyCor, Inc.

• Seneca was engaged by Healthcare Realty Trust Inc. (“HRT”) to provide financial advisory services in connection with the bankruptcy case of PhyCor, Inc. and HRT’s claims against the Debtor. Seneca performed an extensive analysis of the proposed Plan of Reorganization and the valuations performed by the Debtor and its advisors. Seneca provided HRT with an independent valuation of the HRT claim and an in-depth analysis of the viability of the plan of reorganization allowing for a successful settlement of HRT’s claims.

For a more detailed list of previous engagements please contact Jesse DelConte at jdelconte@senecafinancial.com.