An adult entertainment nightclub d/b/a Larry Flynt’s Hustler Club in San Diego, California.
Appointed as Examiner by the U.S. Trustee’s Office to investigate related party contracts, and to investigate and opine on whether a related party sale, third party sale, or a reorganization was in the best interest of creditors.
DWC conducted a review of financial operations, hired a broker to market the business for sale, presented alternatives to a related party parking lot situation, and ultimately provided the court with advice and guidance on the sale of the business.
The business was ultimately sold in bankruptcy court for $1.5 million; far in excess of an initial related party offer of $300,000.
Pacers, Inc.
United States Bankruptcy Court, Southern District of California
Orlando, FL