Patrick Gilrane

Mr. Gilrane is a member of the Advisory Board of Schultze Asset Management, LLC. Mr. Gilrane has extensive experience in private equity, corporate finance and operations in consumer products, retailing and manufacturing. He is Chairman and CEO of Empyrean International (www.emp-apf.com) a designer and fabricator of custom luxury prefab homes. Mr. Gilrane is Founder and CEO of The Wentworth Group LLC, a private equity investment and advisory firm. Mr. Gilrane was a senior executive with Blyth, Inc., (NYSE: BTH) a $1.2B sales a home fragrance consumer products, manufacturing and distribution company. He is also an Advisory Director of Cypress Associates, a boutique investment bank.

Mr. Gilrane earned an MBA from Columbia Business School and a A.B. from Hamilton College.

A. Michael Lipper

Mr. Lipper is a member of the Advisory Board of Schultze Asset Management, LLC.  A. Michael Lipper is the founder and president of Lipper Advisory Services, Inc., an SEC registered investment advisor providing counsel and management of accounts investing in mutual funds, and separate account managers.

Mr. Lipper has been active in various industry associations.  For the 1993-1994 term, he served as President of the New York Society of Security Analysts (NYSSA), and served on the Society’s Board for some part of each of the last four decades.  In May of 2003, he was reelected to the NYSSA Board. 

Mr. Lipper’s “pro bono” activities include serving as Chairman of the Investment Sub-committee of Atlantic Health Systems, as a Trustee of the New Jersey Performing Arts Center and Chairman of its Investment Committee, and as a Trustee of the California Institute of Technology.

* Chartered Financial Analyst    April 22, 2009

Robert G. Rusk

Mr. Rusk is a Managing Director of Cypress Associates, LLC, an investment banking firm focused on mergers and acquisitions, restructuring and other financial advisory transactions, and capital raising. He has over 20 years experience in M&A, capital markets, leveraged finance, private equity, restructuring and distressed investing. Mr. Rusk has led teams in structuring and executing transactions with a value in excess of $30 billion in a variety of industries including automotive supply, consumer products, energy, healthcare, industrial, independent power, retailing, technology, and utilities. Previously, he founded Sleepy Hollow Capital Partners, LLC, a boutique advisory and private equity firm, in 2001. Prior to that was a Managing Director in the investment banking department of CIBC World Markets, and an investment banker at Bear, Stearns & Co. and at Bankers Trust Company.

Mr. Rusk earned an MBA from the Wharton School of Business and a B.A. from Hamilton College.


John Schwarz

Mr. Schwarz, is a member of the Advisory Board of Schultze Asset Management, LLC and was formerly a Senior Vice President and Director of Kidder Peabody. He capped a 35 year career at Kidder where his duties included working with individual and institutional clients both in the United States and in South America, Asia and Europe. At one point he managed Kidder's uptown office and later was in charge of international sales.

He has served as a Governor of both the Union League Club of New York and the Westchester Country Club. Mr. Schwarz was a Trustee of The School of the Holy Child 1988-1998. He served as the President of the Duke University Alumni Association and as a Trustee of Duke University 1998-2000.

Phillip B. Smith

Mr. Smith, is a member of the Advisory Board of Schultze Asset Management, LLC.  Mr. Smith served as Vice Chairman of the Board of Spencer Trask Securities Incorporated, an investment banking firm.

Mr. Smith is a founding General Partner of Lawrence Venture Associates, a venture capital limited partnership headquartered in New York City. From 1981 to 1984, he served as Executive Vice President and Group Executive of the worldwide corporations group at Irving Trust Company.

Mr. Smith is a founder and served as President and Chief Executive officer of Citicorp Venture Capital. While at Citicorp he was involved with many high profile turnarounds and restructuring. Among others, these deals included: Federal Express, Tax Corp of America, Data Point, Autex, Iron Mountain, Rite Away Foods, and Conference Service Corp.

In 1988, Mr. Smith founded and is currently the managing general partner of Private Equity Partnership, L.P. He is also founder of IQ Ventures, a venture investment bank focusing on early stage commitments. He is also a founder of Arete Funds, the General Partner of the U-Tech Fund, L.P. and the MicroGen Fund, L.P. where he serves in several executive capacities.

Mr. Smith is a director of the following publicly held companies: KLS EnviroResources, Inc., Digital Video Systems, Inc., Careside, Inc., and MovieGallery, Inc. He also serves as an adjunct professor at Columbia University Graduate School of Business.

Mr. Smith earned an MBA from Harvard Business School and a B.S.E. in Chemical Engineering from Princeton University.

Grant F. Stoddart

Mr. Stoddart, is a member of the Advisory Board of Schultze Asset Management, LLC. He is currently the CEO of Sharp Performance USA Inc.  He was formerly an Executive Vice President, The Americas, for The Royal Bank of Scotland plc where he represented the $4.6 billion business for the bank in the Americas.

Mr. Stoddart joined the Royal Bank in 1974 and held various branch positions in Edinburgh and London prior to moving to New York in 1987. In New York, he and his team sourced lending opportunities in the syndicated loan market and to businesses directly.

Mr. Stoddart actively handled numerous Workout /Distressed debt situations covering a significant number of industrial sectors including but not limited to Food Distribution, Restaurant, Power, Retail, Convenience Stores, Automotive, Housing Products, Real Estate, Healthcare, Financial, Manufacturing and Clothing. He is well known to senior individuals in the financial and workout community together with the distressed trading side of the business.

Mr. Stoddart earned a BA Commerce degree from Heriot Watt University in 1972 and became a Member of the Chartered Institute of Bankers, Scotland in 1975.

Carl M. Youngman

Mr. Youngman is on the Advisory Board of Schultze Asset Mgmt., LLC. He is Founder of Youngman & Charm, a private equity investment management and consulting firm. Mr. Youngman is respected as one of the deans of corporate renewal in America. For over 30 years he has been helping public and private companies, their managements, investors in companies and lenders to companies resolve their operational and financial problems. He has been involved with over 250 companies, and has been Chairman, CEO, President or Director to over 50. He has been a Chapter 11 trustee and debtor-in-possession.

Some of the brand names he has helped guide include:

Ben & Jerry’s Homemade
Vie de France Corporation
Au Bon Pain, Inc.
Food Research Corporation
Red River Barbeque & Grill
Bonner-Vawter Printing Company
Hub Mail
Champions Sports, Inc.
Bertram Yachts
Tony Maroni’s
The Sun-Times Company
Jreck Subs Group, Inc.
Boston Chicken (now Boston Market)
Mountain Mike’s Pizza
The Concord Group
Cuisine Solutions

Mr. Youngman is an active member of several professional associations and was a founder and former Vice-Chairman of the Turnaround Management Association. He also holds the designation of Turnaround Management Professional (TMP). He is a speaker at various industry forums and lecturer at area business schools.

Mr. Youngman earned an MBA from The Harvard Business School and a BS in Electrical Engineering from Worcester Polytechnic Institute.