That follows an agreement earlier this month in which secured lenders agreed to forebear any default by Liberty and Community Tax operations. Meanwhile, Raymond Guba, who joined as CFO in January, has left the company, NextPoint said.

Kravitz’s job is described as ensuring Liberty Tax continues to be well capitalized and that Community Tax has a capital structure “that encourages meaningful growth”. NextPoint’s announcement cited Kravitz’s “extensive experience to the Company related to strategic transactions and restructuring matters. “

NextPoint’s problems were kicked off by its attempt to bring together LoanMe and Liberty Tax to cross sell services. But it turned out LoanMe, for which it paid about $120 million, was troubled and it ceased new loan operations. NextPoint sued loan servicer, AmeriFirst Home Improvement Finance,  aying the latter did not live up to its contract.

The company then fired CEO Michael Brent Turner, for cause on March 31. NextPoint alleged while Turner was CEO the company conducted business with business entities in which Turner had “a continuing financial interest, at significant ‎cost to the Company” without informing the board. Turner has had no public comment on the allegations.