First KT Lending
- 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
- 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
Property was in default on $30 MM mortgage.
The Chiron Solution
Chiron engaged by distressed debt investor to purchase defaulted loan from Regions Bank.
Company exited Chapter 11 successfully.