Select Case Studies

CASE STUDY: Publicly Traded Debt fund – UK Based

 

  • Approximately $250 million USD at time of engagement

  • Assumed day to day management of the fund including restructuring, asset realization, accounting, public NAV reports, internal reporting, forecasting, and litigation support

  • Fund consisted of several funded debt platforms including:

    • 2 MCA platforms

    • 2 Hard money Real Estate Platforms

    • 1 Small Ticket Leasing Company

    • 1 Large Asset Based Loan

    • 2 Consumer debt Platforms

    • 2 International Platforms (UK and Australia)

    • 1 International Venture Debt Platform

    • 1 Lender Finance Company in Bankruptcy

    • 1 Factoring Company

 

CHALLENGE Shareholders of a large, publicly traded debt fund were unhappy with the management of the fund. There had been large losses and a loss of confidence in the asset manager. The shareholders elected a new board of directors who voted to wind down the fund. The new board of directors hired Remuda Credit Advisors to manage the fund wind down.

 

APPROACH Remuda assumed responsibility for day to day credit administration, restructuring, litigation support, treasury management, and reporting.

 

RESULTS Inside 2 years, the fund has been substantially collected with substantial cash distributed to the shareholders. Collection efforts resulted in material recoveries from distressed portfolio borrowers. The fund considered a sale of the portfolio. However, the collection efforts and ongoing credit administration was generating value in excess of potential purchase offers.

CASE STUDY: Online Auction Company with Online Retail Presence – Private Company

 

  • Provided strategic advisory services to the business owner regarding:

    • Lender/ Bank Relations

    • Asset Realization Strategy

    • Working Capital Management

    • Products include:

      • Sports Memorabilia

      • Watches

      • Jewelry

 

CHALLENGE Consumer products company discovered there had been fraud at a company recently purchased and the value of the assets and performance were substantially over-stated. The company’s lender found themselves under collateralized and declared a default. Lender relations became adversarial. The company was critically short of working capital.

 

APPROACH Remuda worked with the company to construct an asset realization strategy
and reporting plan to present to the lender. 

 

RESULTS The lender accepted the new plan which generated working capital for the company and provided payments on a schedule acceptable to the lender. The company is now focused on growth and product expansion while paying down debt.