A public company was effectively a combination of two private companies and one public shell. This business compbination came with three sets of books, three separate corporate structures, three separate capitalization tables, and three sets of obligations.
We had to harmonize the three separate corporate structures into one. That meant creating subsidiaries and creating contractual obligations between them so the entities could work properly together. This harmonization also meant taking certain obligations that existed prior to the combination and converting them to equity or getting them properly plugged into the new entity. We dealt with these matters, unfulfilled liens, and the prior attorney through litigation.
The matter concluded with the updating of the tax obligations of all three entities, terminating two of them and having the remainder carry forward to the remaining survivor entity.