Restructuring & Special Situations
Recovery & Options Analysis
Forbear, amend, enforce, or sell — without recovery ranges on each path, the committee debate runs on conviction, and recovery decays roughly a point a month while it does. We deliver one memo: every available path, priced with ranges and timelines, in a form your committee can act on within thirty days.
Who calls us
The situations
- Credit committees deadlocked between forbearance and enforcement
- Funds pricing a concession — every amendment is an investment decision in disguise
- Special assets groups that need the enforcement paths (Article 9, ABC, receivership, 363) priced against a consensual deal
What you receive
The deliverable
A committee-ready memo in two to four weeks: every path with recovery range, timeline, cost, and execution risk; a ranked recommendation; and the decision points and triggers that should switch paths. The analysis stands up to counsel, auditors, and LPs.
Map, price, recommend, defend
Map the paths
What your documents, your collateral, and your jurisdiction actually permit.
Price each one
Recovery range, timeline, cost, execution risk — including the industrial-asset reality of auction values, WIP, and customer flight risk.
Recommend
A ranked view with the decision points and triggers that should switch paths.
Defend
Presentation to the committee — analysis that stands up to counsel, auditors, and LPs. **Why speed matters** Recovery decays roughly a point a month while a stressed credit waits on a decision. The memo exists to compress the debate: conviction argues for weeks; ranges decide in days.
Common questions
Straight answers
Is this a valuation opinion?
It includes valuation work but is built as a decision memo. Where a formal opinion is required (fairness, solvency), see Independent Mark Review and our Valuation practice.
How fast?
Committee-ready in two to four weeks depending on data access — faster when we already maintain the 13-week model on the credit.
Industrial collateral is hard to price — how do you do it?
Machinery and equipment channels (orderly vs. forced liquidation), inventory by stage with WIP haircuts, receivables quality by account, and the customer-concentration question that decides whether the business sells as a going concern.
Every path, priced
One memo your committee can act on within thirty days.