Bennett Funding Group Bankruptcy Cases

Share

Cornerstone Research worked with Professor William Silber of New York University on behalf of the Bennett bankruptcy estate to assess the value of a warrant of a small publicly traded company that was sold by the Bennett Funding Group shortly before its bankruptcy.

Retained by Simpson Thacher & Bartlett

Cornerstone Research worked with Professor William Silber of New York University on behalf of the Bennett bankruptcy estate to assess the value of a warrant of a small publicly traded company that was sold by the Bennett Funding Group shortly before its bankruptcy. We used a modified binomial tree technique and the Monte Carlo simulation technique to accommodate the “forced exercise” features of the instrument.

In its ruling, the court cited Professor Silber’s work and testimony as authoritative in the area of valuation.

At trial, Professor Silber presented convincing testimony that the sale price of the warrant had been inadequate and thus provided the key evidence that the transaction should be voided as a preferential transfer. In its ruling, the court cited Professor Silber’s work and testimony as authoritative in the area of valuation.

Case Expert

William L. Silber

Former Marcus Nadler Professor of Economics and Finance,
Stern School of Business,
New York University;
Senior Advisor, Cornerstone Research