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Riverstone

Riverstone Networks, Inc. (Riverstone), based in Santa Clara, California, was a leading provider of carrier Ethernet infrastructure solutions for business and residential communications services. Riverstone’s Ethernet router portfolio allowed carriers to meet the voice, video, and data service requirements of their customers and allowed carriers to offer new services over existing revenue-generating networks.​


THE ROLE

To advise the Official Committee of Equity Security Holders on all aspects of the Chapter 11 case. In particular to:​

  • Review and certify the company’s pre- and post-filing marketing efforts.

  • Independently identify and contact potential buyers believed to have the ability to submit a qualified bid by the bid deadline.

  • Assist the debtors and their advisors with running a competitive auction process.


THE ISSUE

On February 7, 2006, the company and four of its affiliates filed for Chapter 11 protection under the Bankruptcy Code with a stalking horse bid from Lucent that called for a bankruptcy auction on March 23, 2006.​


THE OUTCOME

  • Charlie worked closely with the debtors, the creditors’ committee, and their respective advisors to develop and implement a strategy to improve both price and terms set forth in the stalking horse bid.

  • As a result, the debtors were able to improve Lucent’s bid by 22% at the auction.​




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Asgaard is a division of Asgaard Capital LLC

1934 Old Gallows Road, Suite 350

Tysons Corner, VA 22182

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