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Ajax Principal, while at while at a major investment bank, worked on the restructuring of a limited service hospitality company
The bank originated three different loans to the company, containing a total of 38 motels
The firm then syndicated the loans to different but overlapping investor groups and retained a portion of each loan
The company’s performance subsequently declined and they declared bankruptcy

Contentious bankruptcy process included the hospitality company abandoning 5 assets and filing an equitable subordination claim against the bank
Managed the three different loan syndicates comprised of some of the banks’ top clients, each taking a different approach in bankruptcy
Re-underwrote all 38 properties so as to inform the strategy of each loan syndicate
Went through the discovery process, uncovering unexpected items that impacted the eventual outcome

Identified new managers for the abandoned properties, gaining title, rebranding them, improving their performance and ultimately selling them. After working through an almost 2 year bankruptcy process, the bank was ultimately able to deliver the best available outcome for each syndicate

Hospitality Portfolio - Lender Representation: Limited Service Company Bankruptcy

Hospitality Portfolio - Lender Representation: Limited Service Company Bankruptcy

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