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Guiding a Global Pharma Company Through Chapter 11

Guiding a Global Pharma Company Through Chapter 11

SolomonEdwards guided a global pharmaceutical manufacturing company through its Chapter 11 bankruptcy by providing critical accounting, reporting, valuation and emergence support. Applying our expertise, we streamlined claims reconciliation, ensured accurate financial reporting and enabled a smooth transition to fresh-start accounting, instilling confidence with stakeholders during a complex restructuring.

Challenge

A publicly traded global pharmaceutical manufacturing company filed for Chapter 11 bankruptcy protection, facing the dual challenge of maintaining business operations while navigating the complexities of the bankruptcy sale process. The organization required trusted advisors to support accounting and reporting needs, ensure compliance with regulatory requirements, and manage the transition to fresh-start accounting.

Solution

SolomonEdwards partnered with the client’s leadership team to provide targeted support across critical workstreams:

  • Accounts Payable Support – Cleared significant backlog and provided ongoing updates to maintain accurate books and records.
  • Bankruptcy Claims & Reporting – Established reconciliation processes, supported Liabilities Subject to Compromise (LSTC) analyses, and executed bankruptcy-related reporting under ASC 852.
  • Emergence Planning – Assessed fresh-start applicability, advised on emergence reporting, and coordinated with legal, tax and financial advisors to ensure readiness.
  • Valuation Coordination – Assisted in identifying and estimating fair value of assets and liabilities, including auditor-ready valuation support.
  • Additional Advisory – Provided insights on tax provision analysis and post-emergence accounting and reporting requirements.

Outcome

Our client successfully maintained accurate financial reporting, streamlined its claims reconciliation process, and prepared for emergence under ASC 852. By combining technical expertise with hands-on execution, we helped the company build confidence with stakeholders while managing one of the most complex financial and operational transitions a business can face.

Industry

Deployment

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