As State Court Receiver of a non-performing national brand hotel property with asbestos located in Sacramento, we successfully achieved a loan recovery for the lender. The Receivership Sale eliminated any future environmental liability risk for the lender that could have resulted from a foreclosure. Our key actions leading to operating improvements and a successful sale […]
Stapleton quickly facilitated a 70% recovery for a bank after its borrower, an auto dealership in Northern California, defaulted on its floorplan loan. Recovery was complicated by a convoluted process of receivership and bankruptcy filings, during which time the assets (new vehicles) continued to depreciate.
In a situation that could have been a complete write-off, recovered approximately $3 million for the lender by restructuring an onerous government liability from $17 million to less than $1 million, transitioning the shuttered business to a going concern and selling it to a strategic buyer.
Rapid growth, a cyclical business and recession took its toll. Stapleton resolved the issues and sold the manufacturer/wholesaler of consumer goods to the debtor’s heirs in a competitive process.
Achieved a 100% payoff for the bank through the successful receivership of a large dairy business. Stapleton Group served as interim CEO/CFO of the dairy operation while simultaneously selling its farms, animals and transport assets in a timely manner. The complex process involved significant coordination between stock yards, auctions yards, ranch hands, long haul trucking, buyers, brokers, defendant’s accounting team, dairy cooperatives, veterinarians and feed suppliers.
Successfully recovered $12 million in debt in a tenuous, cross-border situation involving a 20-year old furniture manufacturer. Led complex negotiations with a Mexican labor union and Mexican tax authority to cleanse title on assets. Aggressively managed vacant buildings in Mexico while coordinated the sale of real property and the liquidation of inventory located in the U.S. and Mexico.
Achieved a recovery for investors in a real estate investment fund by unraveling a tangled web of investor contributions, investments in real properties and underlying documentation and completing construction of a 9-home subdivision in the San Francisco Bay Area. Enforced investors’ loan positions through negotiations and litigation through conclusion.