Adam Ortega

Adam Ortega

Principal · +1 (312) 228 7218

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Adam has over 20 years of experience providing complex valuation services. His experience includes the valuation of business enterprises, equity positions, tangible assets, intangible assets, financial instruments, stock options, and intellectual property. Adam focuses on valuation related to bankruptcy, bankruptcy litigation, and shareholder disputes.

He has served clients in the chemicals, consumer, media and entertainment, financial services, industrial products, mortgage, oil and gas, telecommunications and transportation industries.

In the News

Adam’s case experience includes regularly leading the valuation workstream in multi-billion dollar bankruptcy litigation cases. He has been a member of the senior leadership team for these representative cases:

  • Advisor to the Disinterested Directors of the Seadrill Limited (SDRL) Board of Directors. Team conducted valuation analyses of multiple transactions to inform the Disinterested Directors of potential recovery actions during the pendency of SDRL’s Chapter 11 case.  The parties were able to come to a settlement without litigation initiated.
  • Advisor to the Governance Committee of the Board of Directors of Caesars Entertainment Operating Company, Inc. (CEOC), in the CEOC bankruptcy. Involvement included valuation analyses of multiple transactions and entities alleged fraudulent transfers involving CEOC related parties, as well as solvency analyses of CEOC.
  • Advisor to Judge Arthur J. Gonzalez (retired), former Chief Judge of the U.S. Bankruptcy Court, SDNY, in his role as court-appointed examiner in the Residential Capital, LLC (ResCap) Chapter 11 case.  Also assisted in the preparation of the report.
  • Assessed solvency for lender defendants assessing solvency in connection with a fraudulent transfer action seeking to avoid pre-petition payments received from Mirant Corporation, a multi-national energy provider.
  • Advisor to the Independent Committee of the Board of Directors of Sabine Oil & Gas Corporation to investigate potential estate claims involving various subsidiaries and affiliates following its merger with Forest Oil Corporation and subsequent bankruptcy filing. Provided solvency analyses and assessment of reasonably equivalent value.
  • Advisor providing litigation consulting services on behalf of counsel of certain bondholders in a fraudulent conveyance litigation involving the failure of the Tribune Company, a media and entertainment company. Assessed balance sheet solvency, adequacy of capital and the ability to pay debts as due.

Multiple cases in the chemicals sector, including:

  • Financial advisor to the Unsecured Creditors Committee of Lyondell Chemical Company. Provided various solvency analyses examining Lyondell’s capital adequacy and ability to pay.
  • Performed asset-based valuations for a large commodity chemical company.
  • Assessed valuations in the pursuit of fraudulent conveyance claims related to one of the largest bankruptcies ever in the chemical sector.
  • Engaged by counsel to Tronox Inc., a multinational manufacturer and marketer of specialty chemicals, and the Anadarko Litigation Trust to analyze fraudulent conveyance claims related to the debtors' spin-off from Kerr-McGee Corp.  Analyses included reasonably equivalent value, damages and observable market value.

Multiple cases in the telecommunications sector, including:

  • Retained by counsel for the defendants to provide litigation-consulting services in a matter involving Adelphia Communications Corporation. Assessed solvency as well as whether reasonably equivalent value was received in exchange for the transfer of assets.
  • Played an integral role in the accounting and financial reporting investigation for MCIWorldCom, the largest bankruptcy of an integrated telecommunication services provider in the world and the third largest overall.
  • Assisted with the valuation of intangible assets, including spectrum licenses and goodwill for Sprint Corporation
  • Underwrote senior credit facilities for several middle market telecom companies
  • Performed enterprise valuations for a large domestic broadcasting and cable company
  • Appraisal rights cases have included IQ Holdings, Inc. v. Am. Commercial Lines Inc., Kendall Hoyd and Silver Spur Capital Partners, LP v. Trussway Holdings, LLC.

American Bankruptcy Institute

Association of Insolvency & Restructuring Advisors

Business Valuation Association

CFA Institute, Level III Candidate

Turnaround Management Association

Location

Illinois

Education

Bachelor of Business Administration in finance and business economics, with honors
University of Notre Dame