A regional oilfield service provider filed for bankruptcy with a plan to liquidate assets. With a stalking horse bidder in place, the time period to realize savings for the Debtor was limited.
AT Tax was Engaged to:
Quickly initiate a program for savings, transition tax accounts from a previous advisor and use all available local, state and federal remedies to achieve cost savings.
AT Tax Advisory’s Results:
AT Tax Advisory quickly sought and achieved value adjustments through the Bankruptcy Court. The assessments, which previously totaled $220 million, were reduced to $60 million resulting in tax savings to the client of approximately $3 million.