Bankruptcy & Restructuring
Today, many real estate and business owners and lenders face the challenges of maturing debt, complex capital structures, and differing opinions of value and projected cash flow. Our team of highly experienced professionals helps stakeholders - companies and owners - decide how to preserve current value and create future value, while at the same time communicating with secured lenders, and unsecured creditors as to the position of the debtor and what they are doing to protect everybody’s interests.
Responding to troubled loans and market changes is challenging for all parties. FIA offers restructuring services for debtors and guides clients through restructuring, capital sourcing, and resolution of distressed debt both in and out of court.
Our professionals also provide strategic planning on all aspects of real estate and corporate restructuring issues.
Our real estate restructuring professionals have hands-on operational and financial expertise. They work closely with management, our clients’ legal advisors and related advisory professionals to address all technical requirements involved in the specific restructuring needs.
We help to create and support an environment of improved trust and communication, within which a comprehensive solution can be crafted enabling management to enhance and protect stakeholder value. We also take an aggressive and forward-thinking approach while being mindful of a fair and equitable resolution in addressing each situation.
In some instances, the best way to maximize asset value is to initiate a bankruptcy or other insolvency proceeding. In addition to our restructuring and turnaround services, FIA provides critical services specific to a court-supervised insolvency process. FIA collaborates with the client’s management team, board of directors, and legal and financial advisors to develop and implement a comprehensive reorganization plan.
FIA has handled debt restructuring and workout cases for both borrowers and lenders, which provides them with insight into the concerns and drivers for those sitting on both sides of the table. We have been involved in over 1 Billion Dollars of commercial properties with their Debt Restructuring, Discounted Payoffs, Bankruptcies and other resolutions. We are currently involved in over 40 such assignments which are representative of another 1 Billion Dollars in value. We are engaged with banks, CMBS Special Servicers, Private Lenders, as well as Governmental Authorities in these cases.
Our Principal, David Goldwasser, has over 20 years of litigation and crisis management, has been chief restructuring officer in many bankruptcy cases, as well as having been approved and appointed manager of an entity on behalf of the debtor in the New York State Bankruptcy Court Southern District of New York against three objections of creditors by the Hon. Judge Robert D. Drain.
Each case presents a unique set of challenges. Depending on the circumstances, our approach may include:
• Business plan preparation and analysis
• Analysis of refinancing alternatives and capital solutions
• Liquidity management and preparation of financial projections
• Contingency planning and analytical support for in-court and out-of-court negotiations
• Strategic alternatives and exit strategy formulation and analysis
• Plan negotiation including cram-down interest rate and plan feasibility
• Stabilizing operations, implementing cash control measures
• Developing reorganization or liquidation plans
• Convening the various constituents at the negotiating table
In addition, we offer interim management services in order to catalyze organizations in crisis or in transition, driving change in difficult situations. We restore credibility to unstable organizations while preserving, protecting and enhancing enterprise value for stakeholders.
We are committed to delivering immediate and meaningful results to companies and their stakeholders. We have been able to enter into the CRO position on an interim basis to help companies negotiate the restructuring process, achieve short-term viability, and drive long-term positive change and enterprise value including:
• Lead the Bankruptcy or insolvency process
• Identify root causes of operating and financial difficulties
• Prepare and implement restructuring plans (including negotiation with key stakeholders such as debt and equity capital providers) and build positive cash flow to sustain growth
• Realign internal incentives to drive appropriate behavior and change company culture
When necessary, draw additional analytical and industry-specialized resources