SIT­U­A­TION

• Chi­ron advised dis­tressed debt pur­chas­er in acqui­si­tion of a real estate loan from Regions Bank
• 500+ unit apart­ment com­plex in New Orleans
• Prop­er­ty was in default on $30 MM mortgage
• Dis­pute with casu­al­ty insur­er relat­ing to hur­ri­cane dam­age of $4 MM
• Debtor had held back mort­gage pay­ments to par­tial­ly repair property
• Prop­er­ty filed Chap­ter 11 to avoid foreclosure
• Chi­ron engaged by dis­tressed debt investor to pur­chase default­ed loan from Regions Bank

OUT­COME

• Worked with debtor to secure insur­ance claim from hur­ri­cane damage
• Split insur­ance claim with debtor which allowed com­plete repair
• Debtor resumed oper­a­tions of property
• Com­pa­ny exit­ed Chap­ter 11 successfully