In November 2001, new management of AremisSoft Corporation engaged Renaissance to take the lead role in planning a corporate reorganization of this publicly held international manufacturing and hospitality software company. Accounting irregularities involving prior management resulted in an investigation by the Securities and Exchange Commission and also in class action litigation brought on behalf of AremisSoft shareholders against the company. The restructuring plan, developed and implemented through a prenegotiated Chapter 11 bankruptcy filing in March 2002, segregated the company’s profitable operations from certain troubled subsidiaries and provided for full payments to creditors. Under the reorganization plan, the profitable operations were spun off from AremisSoft in August 2002 as SoftBrands, Inc. The remaining assets were transferred into a liquidating trust for the benefit of shareholders, and the class action litigation was settled. The AremisSoft shareholders also received shares of SoftBrands, Inc. As a result of a settlement with the former chief executive of AremisSoft Corporation, the liquidating trust was expected to distribute $200 million to AremisSoft shareholders.