Debt settlement & refinance

The transaction involved nine individuals, some in Ireland, some abroad, and also executors handling the estates of deceased parties.

The collateral for the transaction consisted of multiple properties and various parcels of land, many with title issues.

Prior attempts to secure funding from eight different alternative lenders were unsuccessful.

There was a pressing deadline imposed by the fund, which ultimately required a renegotiation and extension.

We leveraged our extensive network of lenders and our reputation for successfully handling complex cases to find an alternative funder willing to provide the multimillion euro bridging finance facility. Our ability to secure this funding after previous failed attempts demonstrated our expertise in appropriately framing the proposition with experienced industry connections.

CKS negotiated and coordinated with the fund accepting the settlement deal, the alternative lender, legal representatives for all parties, valuers, and the clients themselves. Effective communication channels were established to ensure all parties were informed and aligned throughout the process, demonstrating our capability to manage a large number of diverse stakeholders effectively.

Our team expertly navigated the complexities of dealing with multiple personalities and interests, ensuring that all parties were coordinated and cooperative, and the key deliverables for each stakeholder (lender, legals, tax, valuer and loan fund) were proactively identified and managed appropriately.

We worked closely with legal teams to resolve the title issues associated with the properties and land that were provided as security. Our proactive approach in addressing legal queries with the clients’ legal advisors ensured that the security provided was acceptable, facilitating the successful refinancing.

Recognising the need for additional time, we successfully negotiated an extension from the loan owners of the distressed debt, providing the necessary breathing room to finalise the transaction. By negotiating this extension, we ensured that all necessary actions could be completed within an acceptable timeframe, avoiding potential penalties or failed settlements.

Having successfully completed the loan drawdown and secured the debt write-off from the loan fund for the clients, we commenced project-managing the asset disposal strategy necessary to ensure the successful exit from the bridging finance provider.

Our track record in obtaining financing for challenging cases sets us apart. We have a proven ability to secure favorable funding terms where others cannot.

We anticipate potential issues or roadblocks in transactions and proactively design risk-appropriate and inventive solutions to mitigate them.

When faced with unexpected challenges or setbacks, we identify commercial solutions that distinguish us in handling difficult funding assignments.

We excel in managing transactions involving numerous parties, ensuring all stakeholders are aligned and the process progresses smoothly toward a successful outcome for the client.

Our holistic approach to dealing with all counterparties ensures efficiency and compliance, preventing delays and miscommunications.