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Counsel RB Capital Retained by Chapter 7 Trustee Appointed to Administer Estate of International Architectural Group LLC

^{Published on 2011-06-02 22:20:59 - Market Wire}
 

WHITE PLAINS, N.Y. & TORONTO & MONTEREY PARK, Calif.--([ BUSINESS WIRE ])--Counsel RB Capital Inc. (OTCBB: CRBN) (aCounsel RB,a the aCompanya), a leader in distressed capital asset transactions, announced today that it and Hilco Industrial (aHilcoa) have been awarded a contract for the disposition of the assets of International Architectural Group LLC (IAG) by the Chapter 7 Trustee appointed to administer the IAG estate. Counsel RB and Hilco will structure the disposition of IAGa™s assets through a combination of approaches including bulk sales, private contract, liquidation and auction. Assets to be sold include intellectual property, accounts receivable, machinery and equipment, inventory and real estate. Counsel RB and Hilco will be compensated on a commission basis.

"We look forward to leveraging our track record of success in distressed asset transactions in collaborating with Hilco to structure a comprehensive and innovative strategy for divesting the IAG assets."

IAG is an integrated manufacturer of high-quality aluminum and vinyl building products. Through its 12 subsidiaries, including United States Aluminum, International Extrusion, Raco Interior Products, and International Window Corp, IAG offers diversified product lines that serve the commercial and residential building and construction industries. In total, Counsel RB and Hilco will provide asset disposition services for approximately 18 IAG facilities across the United States.

aCounsel RBa™s extensive expertise in turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios and related areas makes us an ideal fit for the IAG Chapter 7 liquidation,a stated Co-CEO Adam Reich, aWe look forward to leveraging our track record of success in distressed asset transactions in collaborating with Hilco to structure a comprehensive and innovative strategy for divesting the IAG assets.a

Counsel RB Capitala™s Chairman and President Allan Silber commented, aFollowing the recent completion of the very successful Fraser Paper mill transaction, Counsel RBa™s role in the disposition of IAGa™s assets is a great way to build upon the momentum achieved thus far in the second quarter. The IAG assignment is a great example of the type of transaction that will benefit from Counsel RBa™s diversified and scalable full-service capital asset solutions capabilities.a

About Counsel RB Capital ([ www.counselrb.com ])

Counsel RB Capital Inc. (CRBN) is a value-driven, innovative leader in distressed capital assets transactions. The Company focuses on identifying, acquiring and monetizing distressed and surplus capital assets. It specializes in acquiring turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios and related intellectual property.

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address the Company's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of the factors listed herein, as well as other factors beyond the Company's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in the Company's securities and other regulatory filings.