CORPORATE FINANCE

Bankruptcy/Sec. 363 Sale

$28,776,000

Asset Sale


Kennesaw, GA & Joplin, MO

The undersigned served as financial
advisory to Trism's Management and
Board of Directors in connection with
a sale of all of the Company's assets
under Sec. 363 of the U.S.
Bankruptcy Code.

Trism, Inc.

Carreden was retained by the board of directors of Trism, Inc., a publicly-held specialty trucking company with almost $300 million in revenues, to assist in developing a plan to manage the Company's insolvent financial condition and its unavoidable path to bankruptcy.

The plan included liquidating excess assets to pay down debt and selling the remaining assets in a Section 363 bankruptcy sale. In anticipation of such sale, Carreden contacted over 90 potential purchasers. The Company filed Chapter 11 with a "stalking horse" purchaser in hand and successfully closed the 363 bankruptcy sale six weeks later in which the secured lenders were repaid in full, the unsecured creditors received a modest recovery and almost 500 hundred jobs were saved.