Case study

Bank appointment‚ Manchester

Restructuring and Insolvency
at
Debt £2m
  • Portfolio of 10 mixed commercial & residential investment properties in Stockport and Manchester.
  • Uncooperative borrower who interfered in the receivership by collecting rents, contacting tenants/diverting correspondence to tenants. Also supported by an antagonistic adviser.
  • The borroweres aged and infirm mother occupied one property on undocumented terms, which necessitated sensitive management by the receivers.
  • Control of the portfolio was established and new tenancy agreements executed where appropriate.
  • Properties sold via a mixed strategy of auction and private treaty sales, which resulted in enhanced return to the bank in excess of £180k of their initial expectations.
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