Manty & Associates Receives TMA Transaction of the Year
Manty & Associates, P.A. was recently recognized by the Upper Midwest Chapter of the Turnaround Management Association for its work in a transaction with Fifty Below Sales and Marketing.
The Upper Midwest Chapter of the Turnaround Management Association presented the award for its “2013 Transaction of the Year” to Chapter 11 operating trustee Nauni Manty, the Eden Prairie-based Platinum Group and Manty & Associates, P.A. at its monthly meeting on Jan. 16. The Chapter annually recognizes member firms and advisers for accomplishments that demonstrate exceptional achievement in the field of corporate renewal.
The 2013 award recognizes Nauni Manty and Manty & Associates, P.A. for their roles in the successful sale and transaction in bankruptcy in connection with Fifty Below Sales and Marketing, a Duluth-based technology services firm. Fifty Below’s assets were sold in two parts to ARI Network Services and Emerald Connect by a motion for sale free and clear in the bankruptcy. The transaction was concluded in less than three months and saved almost 200 jobs in Duluth.
In determining the winner of the “Transaction of the Year” award, the local awards committee considers a variety of criteria including: company circumstances leading up to the transaction, company market positions for its products or services; jobs saved, impact on unsecured creditors; economic impact on the local economy, comparison of company performance prior to and after the transaction and valuation upon sale or liquidation of the company.
Manty attributes her success and that of Platinum Group to the dedication and loyalty of the Fifty Below Sales and Marketing employees and others she employed in the case to assist her with the sale of the company.
Manty & Associates, P.A. is a Minneapolis-based law firm specializing in banking and business law, bankruptcy, mediation and commercial litigation.