One of the foremost professionals in the corporate renewal industry, Mr. Allison has served as a corporate officer or key advisor in some of the world’s largest and most complex turnarounds.
Mr. Allison recently retired as Executive Vice President and Senior Managing Director of Mesirow Financial Inc., where he was a member of its executive leadership team and was responsible for Mesirow Financial Consulting’s interim management, debtor, and restructuring capabilities on national basis. Mr. Allison’s many accomplishments include being a Fellow in the American College of Bankruptcy, a founder and former Chairman of the Association for Certified Turnaround Professionals, and past Chairman of the Turnaround Management Association (TMA),
As a senior advisor to DailyDAC, Allison will help guide the direction and growth of DailyDAC LLC.

The Texas company that once held the license to sell the Zerona fat-melting laser machines, which offers incision-free liposuction in the offices of cosmetic surgeons, has filed for bankruptcy protection to try to keep its grip on its recently terminated licensing agreement with the laser’s manufacturer.
Primcogent Solutions LLC filed for Chapter 11 protection on Monday, claiming that the laser’s manufacturer misled company officials into thinking that roughly 600 lasers were out in the market and generating revenue when the two groups entered into a licensing and distribution deal in late 2011.
Primcogent later found that about 200 of those Zerona lasers, which have made the rounds on daytime television on the Rachael Ray and Dr.Oz shows, were not generating revenue, according to papers filed with the U.S. Bankruptcy Court in Fort Worth, Texas.
Some of the lasers were still being demoed by doctors who melted a patient’s fat cells by pointing thin, red beams at a their waist, hips and thighs. (In euphemized industry-speak, the fat-liquefying procedure is referred to as “body contouring,” and it typically costs $1,500.)

Bankruptcy is one of the most powerful tools consumers can utilize to regain financial control.  When considering this option you should get a clear idea as to how it can help improve your situation.  It may help you eliminate qualifying debt obligations while helping you reestablish others.  Plus, depending on your situation one chapter may [...]

Let’s head for the beach! No, we’re not giving up our day jobs as we prepare for the Memorial Day weekend.  Today’s post, however, involves a long-stalled luxury condominium development in Sag Harbor, New York and efforts of the developer and secured lender to restructure in chapter 11 over the objection of an investor.  In a recent decision, the United States Bankruptcy Court for the Eastern District of New York upheld the validity of the bankruptcy filing of debtor East End Development, LLC, concluding that provisions of the limited liability company agreement requiring member consent for certain corporate actions did not apply to the filing of a chapter 11 petition and the managing member had authority to commence the bankruptcy without the consent of the dissenting member.