Client Scenario

Bank Appoints Receiver

Client presents with the following scenario:

  • Asset portfolio – Client owns 10 Commercial and Residential properties with a value of $41,000,000 and bank debt of $27,000,000
  • Business Loans secured by the properties, full payments not made for a 12 month period.
  • Sale of properties commenced for Receiver’s sale.
  • Client was unable to obtain refinance of facilities.
  • Bank was unwilling to provide partial releases to allow sale of a portion of the properties.

Client’s objectives were:

  • Reduce the portfolio to a sustainable level of $11 million in assets.

DJ Partners achieves results for clients:

  • Deed was negotiated with the bank providing the client with a 12 month facility at standard interest rates.
  • Client resumed making regular repayments for the Business Loan.
  • Bank-Client trust and communication was re-established.
  • Result of a new 12 month facility for the Client was a premium result under the circumstances initially presented.
  • New deed allowed the Client time to sell several properties to continue banking with their Lender at reduced debt levels.