MACCO Restructuring Group is serving as financial advisor to crypto lender CRED in the commencement of its Chapter 11 case in the United States Bankruptcy Court for the District of Delaware.
CRED also added Grant Lyon to serve as chair of the restructuring committee.
Grant has more than 30 years of experience in corporate restructuring, expert testimony and corporate governance to the company. Grant was selected due to his ability to conduct analysis of company operations, development of strategic plans, cash flow analysis, liquidity alternatives, negotiations and restructuring alternatives. Cred also engaged Paul Hastings as its legal advisor during the Chapter 11 case and MACCO as financial advisor to evaluate M&A and other restructuring opportunities.
The Cred technology platform has serviced customers in more than 100 countries. Cred intends to use the Chapter 11 process in an attempt to maximize the value of its platform for its creditors.
