Asset Restructuring for an SPV established for residual Premium Income Fund assets, which was a distressed property finance MIS with $1b FUM. Asset comprised of 7 distressed property finance loans with a range of properties located in QLD, NSW and VIC that were all non-income producing or suffering a loss. The restructure was undertaken to realise the assets for the highest possible value for the shareholders.
Restructure and turnaround of distressed Tier 3 builder. Facilitated completion of three projects delivering outcome for principals and substantially reducing liquidated damaged claims to improve outcome for balance of creditors.
144 strata room hotel, 18 hole PGA championship golf course, 25 residential lots and a waste water treatment plant owned by the shareholders of Asset Resolution Limited. Hotel trading at 50% occupancy, golf course not viable and losses exceeding $1m per annum. Improved hotel, relaunched golf course and membership structure, close water treatment plant and successfully sold the asset at a premium to valuation.
Tier 2 non-residential contractor contractor with government accreditations, 132 contracts at various stages all in a loss position. All contracts terminated by principals for default. Negotiated with principals for permission to complete some projects in order to bring in cashflow to cover debts. 100% return to financier and employees and a return made to unsecured creditors.
Storage facility that was overcapitalized resulting in vacancy issues, manager and owner had limited storage facility experience. Negotiated put and call option with a new operator to exit asset with business eventually sold to new operator above valuation.