Woods Family Farm Bankruptcy, Goodyear, AZ
SteepleRock came to the rescue of a Chapter 11 case in which the debtors had gotten poor advice from their first consultant.
The Woods Family of Goodyear, AZ, lost their 300 acre farm property as a result of committing it to a joint venture with an unethical and incompetent developer. The City of Goodyear enriched itself at the expense of the family along the way, giving rise to a civil action between the family and the City inside the bankruptcy case.
The original developer partner virtually gave away about half the property, and saddled the rest under a mountain of debt.
The family did not know what to do.
SteepleRock was engaged as Chief Restructuring Officer for the debtors after the initial consultant made strategic errors. SteepleRock convinced the debtors that their re-organization plan was doomed (history has proven it would have been a failure) and obtained a 7 figure settlement from the City, allowing the family to recover at least some of their losses.