CashCode Company, Inc. (“CashCode”) designs, manufactures and distributes bill validators and currency handling devices. CashCode provides its products and technology to customers worldwide in the gaming, retail, transportation and vending solutions markets.
We were appointed as the Court-appointed Receiver of CashCode due to a shareholder dispute. In that role, we monitored CashCode’s day-to-day operations for approximately 18 months, were involved in the design and marketing of new products, engaged interim management, considered complex tax and governance issues, and assisted with a sales process carried out for its business and assets. The result of the proceeding was a going-concern sale of CashCode’s business to a strategic purchaser, resulting in significant distributions to CashCode’s shareholders.