Case History - #1
Healthcare Services
We were retained when this assisted living group’s facilities were being broken up and reverting to the original owner operators.
The group had accumulated substantial debt over several years from a number of its loss making units. If the reversion agreement was to succeed, the group’s debt would have to be retired.
This was a particularly challenging assignment, in that the group’s sole asset was the limited income derived from a 7 year balloon note. All settlements had to be discounted at better than 20 cents on the dollar and each settlement would have to be paid in installments that matched the term of the note.
To exacerbate the problems further, a significant part of the debt represented arrears of federal and state taxes. We are pleased to report that the agreements were achieved in the required time frame and the transaction completed.

