Our Approach
The results reflected in our Past Engagements section were achieved by an intense initial judgmental assessment that flushes out the major exposures/losses and identifies the major assets. This is quickly followed by the development of a quick start plan that centers on the assessment of the existing controls and management talent. The identification and establishment of a key management team is essential to the preservation of assets and the maximization of recoveries. A key management retention package must be put in place within 2-4 weeks of an engagement and is openly discussed at the first meeting with management. The next step is the development of alternative plans and setting a direction, usually within the first few weeks if not already defined by the creditor. Speed in developing and communicating a plan of action is critical. In the absence of a well defined plan that rewards key players, as well as provides some security for the rank and file, chaos can, and often does, prevail.
All initial assessments and early interactions are personally conducted by highly skilled and experienced Senior Advisors. Thereafter, individuals are placed on site to oversee all activities of the lender and insure that the plan is followed. This on site oversight enables the creditor to have direct input into the myriad of issues, surprises and challenges that arise and must be immediately addressed in order to maintain positive momentum under the umbrella of the plan.
Due to the nature of this work, decisions must be made near instantaneously, many times with limited information, in order to maximize results. In any distressed situation there is no perfect answer, just a right direction. As such, we make no guarantees or that past performance is indicative of future performance. All involved will use their best efforts to maximize creditor recoveries.
This general approach is also applied to turnaround operational engagements with a focus on speed and effectiveness. Delinquency controls and Loss Mitigation processes can often be significantly improved in 90-120 days.