In February 1999, Renaissance became the crisis manager and chief restructuring officer for FIRSTPLUS Financial, Inc., an originator and servicer of over $7 billion high loan-to-value mortgage loans. In March 1999, FIRSTPLUS and a wholly owned subsidiary filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Our responsibilities included negotiating settlements with creditors holding secured claims of more than $280 million, negotiating the plan of reorganization with the Official Unsecured Creditors’ Committee and overseeing—from the debtors’ perspective—the entire disclosure statement and plan confirmation process. As a result of these efforts and those of the legal team representing the debtors, a plan of reorganization was confirmed within approximately 13 months from the filing of the petition, with recoveries estimated for unsecured creditors of up to 100 cents on the dollar, plus interest over time.