Our team of professionals at RBR Advisory - part of the AIM-listed Begbies Traynor Group – specialise in working with financial institutions and their customers through challenging times. Our services are tailored to our clients’ specific requirements to provide the right solution at the right time.
Our client base comprises a number of banks, solicitors, law firms and lenders - in addition to other financial service outfits across the UK.
We sit on a number of bank panels and regularly act as advisers to banks on diagnostic reviews, cash flow positions and strategy outcomes. In a recent case, we advised a large banking group which was looking to sell assets and raise cash from third party investors to improve its distressed financial position.
Ultimately the group was not able to raise the cash required, which resulted in an Accelerated Mergers & Acquisition (AMA) process run by our team. From the AMA, we helped to negotiate a sale to a private equity firm, which allowed the bank to exit the facility at a much reduced write-off than initially forecasted.
More recently we were appointed administrators of a large bridging finance lender. At the time of entering administration the company owed in the region of £16.2million to three secured lenders. In total there were over 50 separate loans outstanding, all of which were expected to realise significant shortfalls for the lender. A review of each loan was required in order to avoid 100% loss to the secured lenders.
The properties which were used as security for the loans were located throughout the UK which presented logistical as well as legal issues. RBR Advisory was required to liaise with debtors to arrange settlement of their loans and, where necessary, either appoint Law of Property Act (LPA) receivers or take possession of the security.
However for those properties located in Scotland, where LPA receiverships are not possible, an alternative course of action needed to be sought. There was also the added issue of legal action being taken against a number of professionals involved with the company on charges of negligence. During the administration process, a total of £12.3m was realised from property sales, settlements and litigations; this resulted in around £10m being returned to secured creditors.
Within our specialist advisory boutique sits a partner-led team of highly experienced and knowledgeable advisers providing professional support to all stakeholders including: