Debt Restructuring

Peritus has developed a unique specialty in working on behalf of both lenders and borrowers in developing strategies to resolve troubled commercial loans. With experience as both a Chief Credit Officer and a Special Assets Loan Officer, Mr. Odenkirk brings many years of experience seeking positive resolutions to troubled commercial loans ranging from $1MM to $200MM+.

His experiences includes small company C and I loans, middle-market commercial real estate loans, and publicly traded companies with bank group debt. Through his related experiences as an expert witness he has first-hand dealings in many Chapter 11 bankruptcy cases.

Mr. Odenkirk’s experience as a banker allows him to negotiate on a level playing field with lenders but, uniquely, his status as a consultant (i.e. not an attorney) avoids the need for lenders to include their attorney in the negotiations. This “business people dealing with business people” model often results in a more free exchange of ideas and can bring quicker and preferable solutions for all parties.

Debt Restructuring Sample Assignments:

Amount	Lender Type	Description
$20,000,000 $20M	Banks ———— Equip. Leasing Companies	Multiple equipment leasing lenders – debt substantially restructured pre-BK through PCF negotiations with lenders. Abbreviated BK resulting in borrower successfully restructuring and returning to profitability.
$16,400,000 $16.4M	Bank	Single tenant property with bankrupt tenant rejecting the lease. Pre-BK negotiations by PCF resulted in abbreviated BK case and an 18 month workout period to allow time for re-tenanting.
$13,800,000 $13.8M	Banks	Retail fuel distributor with three major creditors. Extensive negotiations by PCF resulted in an extended restructure period. Subsequent BK filing resulted in an approved Plan of Reorganization.
$2,800,000 $2.8M	Bank	Single tenant property with bankrupt tenant rejecting the lease. PFC negotiations with lender resulted in a nine month I/O period to allow time for re-tenanting.
$2,600,000 $2.6M	Bank	SFR subdivision loan – PCF negotiations with lender resulted in a two year interest only extension. Subsequent negotiations produced an extended restructure period with modified amortization requirements.