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Parent Company, SWC, Restructures Distressed Credit for Emigrant Bank for $2MM Recovery

Originally posted in ABFJournal | Written by Phil Neuffer

Parent company, Second Wind Consultants, restructured a client of Emigrant Bank so it could avoid formal liquidation. The client is a telecommunications infrastructure company with annual revenues of $20 million. Through the restructuring, Second Wind Consultants increased Emigrant Bank’s recovery from $800,000 in asset valuation to $2 million while preserving the business and the funding relationship.

In order to maximize the bank’s recovery, Second Wind Consultants structured a global settlement across 10 creditors within a 30-day period in order to preserve the viability of the going concern and the performance of Emigrant Bank’s restructured senior note.

Rise Alliance represents Second Wind Consultants’ debt settlement and personal guarantee resolution arm, creating solutions that benefit you, your business, and even your creditors.

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