HILLSBOROUGH, N.J., March 1, 2017 /PRNewswire/ -- Clear Thinking Group LLC announced today that it has been named plan administrator for Joyce Leslie Inc., as part of the Debtor's confirmed plan of liquidation. The fashion retailer had previously filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York in January 2016.
Clear Thinking Group has also announced that Managing Director Patrick Diercks will lead its Creditors' Rights practice group. In this role, he will be responsible for managing a team of professionals devoted to end of case services.
"Over the past 16 years, Clear Thinking Group has established a reputation for delivering practical and cost-effective results for each case. I look forward to strengthening that reputation and delivering the value clients have come to expect from our firm," said Patrick Diercks.
Mr. Diercks has over 12 years of experience in the turnaround and restructuring arena. He has provided services to Debtors within the Chapter 11 bankruptcy process including: preparation of cash collateral forecasts, DIP budgets, claims analysis, asset analysis and recovery, as well as estate wind-down activities. Mr. Diercks has also been retained to assist bankruptcy estate trustees as part of post confirmation plan administration. In that role, his responsibilities have included claims analysis, preference analysis, and distribution of funds to creditors.
"Pat's experience in all aspects of the bankruptcy process made him the ideal candidate to lead our reinvigorated Creditors' Rights practice. He will be able to quickly identify issues and ascertain a course of action in an effort to achieve the maximum possible return to creditors," adds Stuart Kessler, President of Clear Thinking Group.
About Clear Thinking Group
Clear Thinking Group is a management consulting firm that helps consumer product, retail, staffing, food processing, and distribution companies to succeed, at any stage of their life cycle, with clear direction and practical solutions. Over the past 16 years, the firm has been engaged by healthy companies to create value, and by troubled companies to preserve value. For further information, visit the firm's website at www.clearthinkinggroup.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/clear-thinking-group-named-plan-administrator-for-joyce-leslie-300416053.html
SOURCE Clear Thinking Group LLC