Serving as CRO, advising a bankruptcy, managing assets, and conducting distressed workouts

Picture this...

You’re a real estate investment and management group with $700M+ in assets comprised of raw land, hotels, and partially complete multi-family and single-family residences. You’re encountering significant portfolio distress, leading to bankruptcy across 48 Secured Loans/REO in 15 states (97% non-performing). You have a $65M re-discount lender (WFCF) and $700M Junior Note Holders, and you’re looking for help.​

You turn to Accordion.

We step in as CRO to create all necessary financial and operational systems to facilitate a successful bankruptcy and restructuring. Specifically, we: ​

• Serve as asset manager on behalf of the liquidating trust to maximize the value of remaining assets upon emergence from bankruptcy.​
• Manage daily operations during the restructuring — including property assessments and value, third-party relationships, tax obligations, insurance coverage, strategic property and asset sales, and foreclosure execution. ​
• Oversee the workout and disposition of a portfolio comprised primarily of negative-carry assets over a 30-month period. ​
• Develop a strategy for each individual asset, including the capitalization, risk management, and execution of that strategy.​
• Create and maintain a customized stakeholder reporting system.

Your value is enhanced.

We successfully facilitate dispositions, foreclosure, litigation, and loan modifications—navigating your company through bankruptcy. By obtaining control and implementing asset-specific strategies, we’re also able to manage value preservation in liquidation.​