NATURE OF ASSIGNMENT:
Primary: Lender - Creditor Services / Liquidation
Primary Industry: Banking & Finance
Company: A leading nationwide bank with over $4BN in asset-based, real estate, commercial and consumer loans
Situation: The bank was experiencing financial difficulties, and as a result, had been taken over and was in the process of being liquidated by the FDIC.
Focus Scope: Following a Cease and Desist Order, two Focus Professionals were approved by the FDIC to serve on the Board of the bank to liquidate the entity and maximize the recovery of all parties involved.
Tasks Performed: In this capacity, our Focus Professionals assessed all portfolio loans within the bank and sold all remaining unprofitable mortgages and loans. New equity was raised, and existing equity was restructured. The Focus team was also able to sell a division of the bank more asset liquidations.
Results: Due to our Focus Professionals’ involvement, no investor or depositor of the bank lost money as a result of the liquidation, nor did the FDIC have any outstanding obligations.