Category Archives: Turn Around

Someone compares real war to war with lenders and Chapter 11

A potential new client told me yesterday that he has spent 2 years fighting with his banks and a short time in Chapter 11 and 1 year in Vietnam and he would rather be back in Vietnam then deal with what he has been dealing with.  I fully understand, as I have been there. I...
more

Highly Experienced Staff

Just realized that we have multiple former Bank CEO's, Presidents, CFO's and Chief Lending officers working on our team for our clients... We have a very experienced team of professionals....
more

Stay involved and focused when doing a workout

The number One rule in a workout, turnaround or Bankruptcy is to stay very involved and have a never give up mindset. If your team, professionals and opposition see or sense that you do not believe, have faith, energy or have abandoned ship then your done. Don’t be late for calls or meetings, return emails...
more

Turn around and Workout Mistakes

1. Taking money out of your retirement account or other protected assets to prop up your business or investment. 2. Not being very involved, giving up, being undependable or a goof ball 3. Thinking your lender cares about you or your business and will work with you, your interest and there interests ...
more

Quote from an attorney I worked with on a restructuring matter

Quote from an attorney I worked with on a restructuring matter “I enjoyed working with you and learned quite a bit.  I have thought about your "who's losing sleep" several times on different matters since. Your expertise was key as to the strategic moves that were made”...... Makes all the hard work, worth it......
more

How One Business Bounced Back from Bankruptcy

After purchasing casual dining chain Fatburger in 2003, CEO Andy Wiederhorn fought for years to turn around the company's performance. But, faced with an ineffective management team and the recession, he finally resorted to Chapter 11 bankruptcy filings for two of the restaurant’s west coast subsidiaries in 2009. Since then, Fatburger has become one of the rare...
more

Example Restructuring Transactions on a Retail Center

Here is an example of a real life deal. The property was a retail shopping center with good positive cash flow. The ownership had purchased the property about 3 years earlier with a balloon loan and was unable to refinance it.  They had put in considerable equity and the initial loan to value was 50%.  The...
more

Short Sales

Arranging a short sale or deed with a lender is a great way to eliminate the possibility of a deficiency in a foreclosure.  As long as you get a full and complete release....
more