Overview

Lance T. Miller is a Director at The Claro Group, LLC located in Washington, D.C. and Atlanta.  Mr. Miller specializes in providing in-depth business and financial advisory services to companies, creditors, equity holders, the legal community, lenders and other interested parties. 

Mr. Miller has over 27 years of professional experience in the Business Reorganization and Financial Services industries.  He has worked with various stakeholders, including management and creditors, in Chapter 11 and out-of-court situations. Mr. Miller has led and been involved in engagements related to assessing and enhancing short-term liquidity, analyzing business restructuring plans, claims management, and the monitoring of operating performance during bankruptcy. His particular areas of experience include constructing complex financial models (both multi-year business models and 13-week cash flow models), forecasting short-term cash flows, developing cash conservation measures, assessing business plans, analyzing business profitability models, and liquidation analyses. 

Prior to joining The Claro Group, LLC, Mr. Miller worked as a senior professional in the restructuring practices of an international public accounting firm.

Experience +

Mr. Miller served as financial advisor to a Wisconsin based non-profit university that had been experiencing performance issues including declining enrollment, negative cash flows, declining endowment and expiring credit facility.  Mr. Miller was instrumental in developing a 13-week cash flow forecast, a comprehensive restructuring plan on a much lower cost base, and a plan to restructure the university’s credit facilities.  Mr. Miller assisted the university’s restructuring team to prioritize 65+ academic programs, eliminate non-core and non-profitable majors, develop controls for minimum class sizes and realign academic services to reflect the reduced academic program.  Mr. Miller led all of the discussions with the university’s lender to implement an extension of the university’s credit facility.

Mr. Miller advised several other nonprofit colleges and universities in preparing short-term liquidity projections, negotiating with existing creditors and developing a viable long-term business plan.

Mr. Miler’s served as financial advisory to a medium sized specialty retail company and led a team that was responsible for negotiating the agency agreement with the inventory liquidators, preparing and managing the data analysis regarding the final reconciliation of inventory, and negotiating final settlement payment from the inventory liquidators based on the final inventory reconciliation.

Mr. Miller served as financial advisor to several medium and large sized companies to provide bankruptcy administration services including contingency planning and bankruptcy filing preparation, first day motions, cash egress analysis, invoice cut-off analysis, vendor management, statements and schedules and claims reconciliation.

Mr. Miller advised a major metal manufacturing company through a Chapter 11 bankruptcy proceeding which included assisting with preparing analyses on the restructuring of capital and assisting in the disposition of various assets; developing of Plan of Reorganization and Disclosure Statement; preparing financial projections and business plan; and preparing with the development of its Statements and Schedules and Monthly Operating Reports.

Mr. Miller advised a large credit card processing company regarding the feasibility and viability of the business plan for the proposed merged entity of two large airline companies.  Additionally, Mr. Miller advised the credit card company regarding the feasibility of entering into a cobranding agreement the new company.  The primary functions were to provide findings and observations on the proposed new company business plan to evaluate the reasonableness of the assumptions contained in the plan and to develop various financial covenants associated with entering into this agreement.

Mr. Miller advised the Securities Investor Protection Corporation (SIPC) to assist in the in the liquidation of Lehman Brothers Inc.  Mr. Miller’s role in this engagement consisted of developing a strategy and related analyses in relation to preference litigation.

Mr. Miller advised the bank group of a global manufacturer and marketer of differentiated chemicals regarding the viability and feasibility of the company’s business plan and projected cash flows.  In addition to providing a detailed analysis and assessment of the company’s business plan and operations Mr. Miller provided the bank group with monthly monitoring reports regarding the summary of the company’s operations and ongoing covenant calculations.

Mr. Miller served as the independent financial advisor in reference to the Federal Reserve Board and the Office of the Comptroller’s orders in relation to specific mandates to review foreclosure actions initiated, pending, or completed during 2009 or 2010.  He was instrumental in developing the comprehensive testing procedures and managing the workflow for certain testing areas.

Mr. Miller assisted a large nonprofit foundation with developing a new go-to-market strategy and structure for the distribution and sale of certain publication materials.  Mr. Miller developed and conducted surveys with several of the foundations’ related entities to obtain information in relation to financial results, financial plans, marketing plans, customer base analysis, in addition to other business related information.   

Mr. Miller has advised a significant number of Unsecured Creditors Committees in bankruptcy proceedings which included assisting the Committee in evaluating the Debtor’s business operations, valuation issues, Key Employment Retention Plan evaluation, industry analysis, director and officer liability issues, fraudulent conveyance issues, plan feasibility, and other matters.  Some of Mr. Miller’s key clients in this area have included Sumner Health Regional Systems, S&K Menswear, Mattress Discounters, Titan Financial and National Heritage Foundation Inc.

Education +

Bachelor of Science, Mathematics, Howard University, 1993

MBA, with a concentration in Finance and Accounting, McCombs School of Business, University of Texas at Austin, 1998

Certifications +

Certified Turnaround Professional (CTP)

Certified Insolvency and Restructuring Advisor (CIRA)

Memberships +

Member of the Advisory Board of the Turnaround Management Association (Atlanta Chapter)

Member of the Association of Insolvency and Restructuring Advisors (AIRA)

Practices +