Distressed Debt Purchase
Aug 01, 2014OUTCOME: Very successful for my clients
I represented two investors who together purchased a nonperforming business loan from a local bank. The promissory note was secured primarily by real estate and it was this that drew the investors to ... the deal. We closed in record time. The debtor was able to secure take-out financing, and bought the note back from my clients within 6 weeks after closing, at a face value that was TWICE the discounted purchase price my clients paid the bank for the note.
