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The Weinstein Co., which is currently undergoing Chapter 11 bankruptcy proceedings, has appointed a new member to its board of directors — Ivona Smith of DriveTrain LLC, which advises distressed businesses.
Smith is described as a finance professional with more than 20 years of experience in restructurings, corporate finance and audits. And, in announcing her appointment, the board said it made the decision to add an additional independent director as part of its ongoing discussions with the Unsecured Creditors Committee in its Chapter II case pending in Delaware.
“We are delighted to welcome Ms. Smith to our board,” board chairman Bob Weinstein said Friday in a statement. “Ms. Smith brings not only substantial expertise in the bankruptcy sale process, but also enhanced transparency toward board’s goal of maximizing value for the benefit of all stakeholders.” In addition to Weinstein and Smith, the board also consists of Tarak Ben Ammar, Lance Maerov and Frank Rainone.
In November, TWC appointed Robert Del Genio, a senior managing director at FTI Consulting, as its chief restructuring officer.
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