Welcome
to Marcher
Consultants
Marcher Consultants was originally organized in 1991 by its
founding members, Steve Wexler and Marie Wexler, both of whom are still actively
involved in the day-to-day administration of the company’s activities.
Since its inception, Marcher’s professionals have been providing consulting
services in the following areas:
Marcher has developed strategic plans for the financial rehabilitation of a wide
range of operating businesses and developers in the real estate industry.
Our professionals have worked closely with members of the
Northern
Virginia
Bar
in the development of Plans of Reorganization and Disclosure Statements, many
of which have been confirmed by the US Bankruptcy Court.
Steve Wexler has been appointed as an Examiner in Chapter 11 bankruptcy
cases before Judge Teel in the District of Columbia Bankruptcy Court and Judge
Bostetter in the Eastern Virginia District of Virginia Bankruptcy Court.
He was also appointed as the Court-approved Financial Advisor to the
Chapter 11 Bankruptcy Trustee in a case before Judge Mayer in the Eastern
District of Virginia (Alexandria Division) which involved a multi-asset real estate portfolio.
In addition, we have provided expert testimony in the Alexandria (VA)
Division, the Norfolk (VA) Division, the Greenbelt (MD) Division, and the Tampa
(FL) Division of the Bankruptcy Court. Steve
Wexler has also been engaged as an expert witness in cases before the Prince
William
County
and Fairfax County Circuit Courts as well as the
Federal District Court
in
Alexandria,
VA
). He has provided expert witness
testimony in matters related to bankruptcy
plan feasibility and financial projections, interest rate assumptions, cash
collateral issues, bankruptcy preference payments and unauthorized transfers
analyses and the process of real estate development and brokerage.
During 2005, Steve Wexler completed an appointment by Judge Mitchell in the
Eastern District of Virginia (Alexandria Division) as a Plan Administrator in the Chapter 11
Bankruptcy Case of Han Swyter (Case No. 00-12759-SSM).
The assignment included the orderly liquidation of a five (5) building
flex-industrial portfolio and the distribution of the proceeds of liquidation to
numerous partners in five (5) limited partnerships.
During the hearing at which the Final Report was presented, the Court
specifically noted the timely and cost efficient results which had been achieved.
During 2006 Judge Horne of the
Loudoun County Circuit Court appointed Steve Wexler to serve as Receiver for
several limited liability companies that own approximately 125 acres of
residentially zoned (3-acre) land
in
Loudoun
County
which was encumbered by a First Deed of Trust held by Virginia Commerce
Bank. The members of the LLC’s
were engaged in intra-company disputes which had unfortunately diverted their
attention away from the primary goals – approval and recordation of the
subdivision plat, sale of the resultant lots and repayment of the secured
creditor. Since Marcher's appointment a
settlement agreement was negotiated between the members of the LLC’s and their
primary creditors and
Loudoun
County
has issued technical approval of the subdivision. Recordation of
the subdivision plat will be achieved during 2007 allowing us to move toward
orderly liquidation of the subdivided lots.
While the majority of our work has been Debtor-related, there have been
instances where we have been engaged to represent Creditors’ interests.
Specifically, we were engaged as an expert witness for Bethlehem Steel in
the chapter 11 bankruptcy case of Atlas Machine & Iron Works, a case in
which
Bethlehem
ultimately prevailed. We were engaged by Wachovia Bank to coordinate the
non-judicial liquidation of a Borrower. We
were also engaged by a Bethesda (MD) bank with respect to the administration and
oversight of a significant line of credit borrower during a Chapter 11
bankruptcy. Asset-based Lenders such
as Presidential Financial of the Chesapeake
(Baltimore
,
MD), Federal National Payables (Bethesda, MD) and Wells
FargoBusiness Credit (fka Commerce Funding Corporation of
Tysons Corner,
VA) have requested our involvement in matters related to their borrowers.
In addition, we have been engaged by several creditors’ committees in
chapter 11 cases.
Our engagements have typically included review and analysis of historical and
present financial performance to establish conclusions and recommendations
regarding viability and continued business operations.
Our conclusions are presented in the form of an operating business plan
against which future operations can be measured.
We also have been engaged to provide financial oversight and administration
services for profitable operating companies – the role of Surrogate Chief
Financial Officer. These engagements
have included responsibility for general ledgers, coordination of payroll
processing, financial reporting and planning, development of institutional
banking relationships, administration of on-site accounting staffs, oversight
for fringe benefit and insurance programs and other tasks as requested.
We currently serve as Chief Financial Officer for Securiguard, Inc. (McLean,
VA), USEC Service Corporation (Falls Church
,
VA), The Chesapeake Center, Inc. (Springfield,
VA), Project Developers, Inc. (Dulles,
VA) and Castle Concrete Corporation (Manassas,
VA).