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Michael L. Newsom is a Director with Bridge Associates LLC, joining in 2001. He has extensive experience in strategic and capital planning, process engineering, production management and environmental affairs.
While at Bridge, Mr. Newsom developed a sophisticated statistical computer model used to evaluate ordinary course and new value defenses in both the prosecution and defense of preference actions. U.S. patent approval is currently pending. Mr. Newsom also developed a database programs for the generation of bankruptcy schedules and claims management providing efficient and cost-effective execution of bankruptcy affairs.
Representative Matters
Manages operations of the Bridge Wind Down Team for Durango Georgia Paper Company. Prior to filing for bankruptcy, the Company had annual revenues of $270 million and produced a variety of paper products.
Manages operations of the Bridge Wind Down Team for Recoton Corporation, which prior to bankruptcy was a $650 million distributor of consumer electronics.
Member of the Bridge Strategic Assessment Team evaluating Hunt Valve, a supplier of equipment to the US Navy with annual revenue of approximately $40 million.
Member of Bridge's Crisis Management Team for Crown Central Petroleum Corporation, a multi-billion dollar operator of refineries, and a wholesale and retail distributor of petroleum and convenience products.
Member of the Bridge Wind Down Team for InaCom Corporation, a $5.9 billion reseller of computer services and hardware. He was responsible for the management, analysis and prosecution of over 100 preference actions with a face value in excess of $200 million.
Assisted various Bridge teams in the evaluation and defense of preference actions including: Conseco Finance Corporation, a sub-prime lender and servicer of mortgage portfolios with assets of approximately $25 billion with potential preference actions with a face value of approximately $74 million, Wickes Inc., a $450 million supplier of building materials to the construction and home building industry with potential preference actions with a face value of $98 million, and James River Coal, Inc., a $200 million annual revenue (pre-petition) coal mining company with approximately 1,400 employees with potential preference actions with a face value of $55 million.
Provides single company preference analysis for law firms defending avoidance actions.
PRIOR EXPERIENCE
Mr. Newsom is the former president of Manufacturing Environmental Associates, a consulting firm specializing in advising companies with environmental and manufacturing process issues. In that capacity, and in former work experience he managed projects to decommission and sell manufacturing plants in several states, and also developed major trades of air emissions credits.
Mr. Newsom gained national recognition for conducting the first significant air emission credit trade in the Los Angeles "Reclaim Market" and for making the first air emission credit trade in the state of Texas.
Mr. Newsom is a former Director of Engineering and Director of Environmental Affairs for Anchor Glass, formerly the second-largest domestic manufacturer of glass containers in North America. He was an engineer and Department Manager in Glass Manufacturing for Libbey Owens Ford Glass Company.
Professional & Civic Activities
Mr. Newsom has been a repeat guest speaker at the International Conference on Glass Problems.
Member, American Bankruptcy Institute
Publications & Presentations
Proper Bankruptcy Process Can Fuel Recapitilization for Paper Companies
Bankruptcy liquidations: Don't let your assets go up in smoke
Creativity yields bright future for old mill -- and creditor recoveries to boot
Measurement of the Ordinary.
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