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Business Professionals invited to The Birdsall Bankruptcy: A Case Study of a ‘Front Page’ Seizure, Insolvency and Bankruptcy Sale


April 2, 2014 at 1:47 PM

LIVINGSTON, NJ – The Association of Corporate Growth (ACG) and Turnaround Management Association (TMA) is hosting its11th joint meeting on Tuesday April 8, from 7 a.m. to 9 a.m. at the Woodbridge Hilton in Iselin.

The incoming president of ACG, Sally Glick of Livingston-based accounting firm, Sobel & Co., is inviting local business professionals to attend this special forum where a case study on the Birdsall Bankruptcy will be presented.

Generating over $50 million annually and employing over 300 employees, Birdsall Services Group was one of the largest and most renowned engineering firms in the tri-state area. Then on March 28, a Star-Ledger headline read “State seizes assets of indicted engineering firm…”

This program will chronicle the meteoric fall of the company, following investigations of improper campaign contributions and subsequent indictments and convictions. The panel, which includes a number of actual attorneys, financial advisors and principals involved in the case, will discuss the court-ordered seizure of the business assets, subsequent Chapter 11 filings, litigation between Birdsall and the State of New Jersey, sale of the business by Trustee Edwin H. Stier and the settled litigation against the officers and directors of Birdsall.  Issues to be discussed will also include the role of the trustee and his advisors in continuing the operation of a cash-drained business, problems pertaining to the sale and purchase of the business in bankruptcy and insurance, and the other issues relate to D&O litigation.

Donald F. Campbell, Jr. of Giordano, Halleran & Ciesla, P.C., counsel of Partner Engineering and Science, Inc. will moderate discussion among the panel which will include Donald F. Conway of Mercadien, P.C. (Trustee’s Financial Advisor), Karen A. Giannelli of Gibbons, P.C. (Debtor’s Legal Counsel), Frank S. Romeo, Jr., of Partner Engineering & Science, Inc. (Asset Purchaser) and Daniel M. Stolz of Wasserman, Jurista & Stolz, P.C. (Trustee’s Legal Counsel).

Members of ACG NJ have complimentary entry, first time attendees will be charged $50 ($38 before April 4) or $100 ($75 before April 4) for non-members.

To register visit www.acg.org/nj

To contact ACG email acgnewjersey@acg.org or call (855) 224-6500 

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