Todd M. Patnode

Director

Todd Patnode is a Director in the Turnaround and Restructuring practice of Bridge Associates LLC.  Mr. Patnode has over 17 years of experience providing professional services related to valuation, mergers and acquisitions, transaction advisory, crisis management and corporate recovery for a variety of industry clients.

Representative Matters

• Led the Bridge team providing financial advisory and expert testimony services to the Environmental Enforcement Section of the U.S. Department of Justice (“DOJ”) related its environmental remediation / reclamation claims associated with the Chapter 11 proceedings of Asarco LLC (“Asarco”) a fully integrated miner, smelter and refiner of copper (third largest U.S. copper producer).
• Member of Bridge team that currently provides financial advisory services to a senior lender group regarding its exposure in a multi-hospital health system.  Led the engagement team in the preparation of a comprehensive valuation report for each debtor entity as well as the reorganized enterprise.
• Led the Bridge team in the production of an expert report in the UBS v. Genesco declaratory judgment action regarding the solvency and execution risk of the proposed combination of Finish Line (NYSE: FINL) and Genesco (NYSE: GCO).
• Member of the Bridge financial services team that provided a solvency opinion to CIFG Guaranty Ltd and CIFG North America Inc. with respect to the commutation of certain Structured Finance risks in its portfolio and other restructuring activities.
• Leads the Bridge team providing monitoring, supervisory, financial advisory and work out services to Financial Guaranty Insurance Company in connection with the review of its distressed tax-exempt credit enhanced portfolio.
• Member of the Bridge financial services team that provided a solvency opinion to Financial Guaranty Insurance Company with respect to the reinsurance of its Public Finance portfolio.
• Member of the Bridge team that provided crisis management and restructuring services to Physician Specialty Hospital, a physician-owned, acute care hospital servicing Texas.  Produced valuation of hospital enterprise and led the day-to-day marketing and solicitation process, auction and sale of the Debtor’s assets.
• The Thaxton Group, Inc.  – Developed four separate expert reports related to a national sub-prime consumer finance company and subordinated note program.  Reports included a retrospective solvency, insufficient return / damages analysis, substantive consolidation and rebuttal of opposing expert’s valuation.
• Heilig Meyers, Co. – Performed a retrospective solvency/valuation engagement related to one of the nation’s largest (revenues of $2B) public retail chains.  In this capacity, was asked to render an opinion as to the solvency of the entire company, as well of each of the company’s individual lines of business.
• Link Energy, LLC  – Performed a retrospective solvency related to a mid-stream crude oil marketing company (e.g. engaged in the purchasing gathering, transporting, trading, storage and resale of crude oil).  In this capacity.  In this capacity, was asked to render an opinion as to whether Link was insolvent, or in the zone of insolvency.
• Entergy New Orleans – Performed retrospective solvency and valuation reports related to Unsecured Creditor’s Committee’s competing plan of reorganization.
• Reliant Energy Channelview, L.P.  – Performed business plan reviews as well as multiple valuation scenarios related to natural gas fired co-generation plants owned by Reliant Energy Inc.
• Liquidating Trustee of Multi-national Hedge Fund – Performed forensic accounting and investigatory services related to the liquidation hedge fund.
• Alterra Healthcare Corporation – Retained by the Official Committee of the Unsecured Creditors (“UCC”) of Alterra Healthcare Corporation, a $400 million, public, multi-state, assisted living facility company.  In this capacity, evaluated and assessed the debtor’s DIP financing, restructuring plan projections and debtor’s valuation estimates. Additionally, actively monitored the sale and bid process and assess the ultimate selection of the equity/exit transaction designed to facilitate the company’s emergence from bankruptcy.
• Centennial Healthcare Corporation – retained by secured lenders in connection with the company’s bankruptcy, business/ reorganization value and ultimate sale.
• Academic Medical Center Joint Venture – Provided valuation and financial advisory services related to JV merger of fifteen radiologist imaging center with an academic medical center located in Oregon.
• Assisted Living Company – retained by secured lender to provide expert testimony in connection with valuation and POR cram-down terms. Inn at Orchard Park Plano Texas.
• Financial feasibility studies services related to over 20 separate real estate and seniors housing (SNF, ALF and CCRC) bond offerings.
• Specialty Home Health Finance Company – retained as financial advisor by private equity firm in connection with valuation, business plan review and potential acquisition.
• Valuation and operational assessment of twenty-physician invasive cardiology practice which intended to expand market  share and financial viability through the acquisition of 10 primary care physician practices.

Prior Experience

Prior to joining Bridge, Mr. Patnode was a Managing Director- Corporate Finance at FTI Consulting.  In this role he provided valuation, acquisition and divestiture pricing, financial feasibility, litigation, bankruptcy reorganization, and operational turnarounds for private and public companies, non-for-profit institutions, lenders, creditor committees, trustees and other parties of interest. 

Moreover, Mr. Patnode was a member of PricewaterhouseCoopers’ (PwC) Corporate Valuation group as well as the mergers and acquisitions line of business within PwC’s Healthcare Consulting practice. In this capacity, Mr. Patnode completed fairness opinions of for-profit and non-for-profit healthcare systems transactions, fixed and intangible asset valuations of multi-industry companies and financial feasibility studies for their inclusion into municipal bond offerings.