Restructuring & Special Situations
Stressed-Credit Governance Review
The risk seat's recurring monitoring tier. Each quarter we review how your watch-list actually governs itself — whether escalation triggers fire when they should, whether the committee record would survive an LP or examiner read, and whether the documentation on your stressed names matches what your credit agreement assumes. Findings in a one-hour readout, before any of it becomes an event.
Who calls us
The situations
- Funds that want a second set of eyes on watch-list discipline without a full workout engagement
- CROs and boards that need independent confirmation the escalation framework works in practice, not just on paper
- Managers preparing for ODD, an annual LP meeting, or an examiner cycle
What you receive
The deliverable
A quarterly exception-based readout with specific fixes, a one-hour session with the CRO or committee, and DDQ-quotable language on governance. As much or as little goes to the LPAC or board as you choose.
Review, test, read, report
Review the watch-list process
Entry and exit criteria, information cadence, who decides what and on which numbers.
Test escalation discipline
Did the triggers that should have fired actually fire last quarter — and what happened next.
Read the record
Committee minutes and credit files on stressed names, against what an LP, auditor, or examiner would expect.
Report
A quarterly exception-based readout with specific fixes, plus DDQ-quotable language on governance. **Why it is the recurring first engagement** Priced as a recurring governance line item, like the mark review. It earns trust, keeps us current on the book, and means that when a credit does stress, the advisor already knows your process, your documents, and your names.
Common questions
Straight answers
How is this different from the Workout Readiness Playbook?
The playbook is a one-time build (documents, escalation map, tabletop). This review is the recurring check that the machinery keeps working — many clients do the playbook once, then this quarterly.
Does it overlap our compliance function?
No — compliance tests regulatory obligations; we test credit-decision governance: whether stressed credits get decided well, on time, on defensible records.
What does the LPAC or board see?
As much or as little as you choose — most clients share the quarterly summary; the detailed exceptions stay with management.
A second set of eyes on the watch-list
Quarterly, exception-based, one hour of your committee's time.