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Jerome M. Charen offers a comprehensive range of services to businesses, business owners and company executives, financial institutions, governments, healthcare providers, professional service firms and practitioners, the insurance industry and individuals.
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July 12th, 2010
Jerome M Charen, Chairman of Charen Palitz and Rosenberg, has launched a website at More...

Corporate Turnaround Lawyers in Pennsylvania

The firm, and Jerome M. Charen specifically, has served as a turnaround specialist to many companies, organizations, and groups, including the African American Museum of Philadelphia, a major health facility, and other clients.

He has also served as president and sole director of a healthcare company at the recommendation of a major Philadelphia law firm. He managed the company’s main facility for six months until it was sold.

Other case studies regarding Charen’s corporate turnaround work:

A sand and gravel excavation company — The company was experiencing financial losses in operations when it sought out Charen to participate in management and locate investors. He successfully accomplished the company’s objectives, assisted in relocation and expansion, and negotiated the favorable sale of the business.

A machinery manufacturing company — Charen participated in the negotiations for the acquisition of a division of a public company, the financing for the acquisition, and the company’s working-capital needs. The clients were the executives in the division, who wanted to acquire it. Without Charen’s help, the division was going to be shut down and the executives’ employment would be terminated. Charen is now one of a three-member board of directors and general counsel. The business is now valued at 4-5 times its acquisition cost.

A metal spinning manufacturing company — Before Charen’s involvement, the company had increasing sales revenues but could not make a profit. Worse yet, its major lender, a bank, had called its loan. After Charen was retained at the request of the major Philadelphia law firm of Blank Rome LLP, he reduced the company’s operating costs and renegotiated the loan with the lender. This resulted in not only business continuity but also extra funds for additional working capital.

A commercial dental practice — Prior to Charen, the three partners were fighting. At the request of another major Philadelphia law firm, Charen was brought in to be the sole arbitrator for the parties’ dispute. Charen managed the practice for one year and arranged for the practice’s sale as the solution to the dispute.

A menswear retail store — The owner wanted to retire, but the store needed to be in operation until a suitable buyer was obtained. Charen supervised the operation. A buyer was obtained and he continued in a supervisory position, at the buyer’s request.

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