Formation of a Corporate Restructuring Practice with Florence V. Lentini as Practice Leader

July, 2008

Florence V. Lentini, based in New York City, heads Claro’s Corporate Restructuring Practice, which provides services to underperforming companies. She has over sixteen years of experience in helping clients create value in distressed situations. Ms. Lentini has advised senior management, boards of directors, equity sponsors, secured lenders and unsecured creditors including bondholders. She has also served as a Chief Restructuring Officer (CRO) in company-side crisis situations and Trustee for Liquidating Trusts representing secured and unsecured creditors. Ms. Lentini has led many large, high profile national and international assignments for companies and/or their creditors. Her background extends across many industries where she advised her clients on value-maximizing strategies both in and out–of-court.

Claro’s restructuring practice offers distressed and underperforming companies and their constituencies, a host of services focused on defining strategic alternatives that will enhance enterprise value. These services include:

• Identifying strategic restructuring alternatives
• Designing and implementing crisis management and turnaround strategies, including cost reductions through improved procurement
• Implementing liquidity and working capital enhancement strategies
• Maximizing recoveries from 3rd parties, including insurers
• Enhancing top line revenue growth
• Developing business plans, financial projections and 13-week cash flows
• Developing and implementing bankruptcy plans
• Sourcing and negotiating new financing or debtor-in-possession financing
• Estimating value of specific assets or assessing going concern and liquidation valuations
• Conducting and/or overseeing 363 asset sales
• Negotiating settlements with parties-in-interest
• Developing and negotiating Plans of Reorganization and Liquidation designed to maximize recovery to creditors in Chapter 11 or Chapter 7 situations

Selected Company Company Side Restructuring (both in and out-of-court) representations include: PlusFunds Group, Inc., Clark Material Handling, U.S.A. Floral, Inc., At Home Corporation (Excite@Home), La Roche Industries, Inc., ICO Global Communications, Inc., Long John’s Silver Restaurants, Inc., Project Voice (Teleconferencing), and Project View (Video Game Producer).

Selected Creditor Representations include: VarTec Telecom, Inc., Falcon Products, Inc., Maxim Crane Works a/k/a ACR Management LLC, National Century Financial Enterprises, Combustion Engineering (subsidiary of USABB), and Project Road (Rental Car Company).

Prior to joining The Claro Group, Florence held senior positions at XRoads Solutions, KPMG, FTI Consulting and PriceWaterhouseCoopers. She holds an M.B.A. from Pace University and a B.A. from The Kings College.