Article 9 Foreclosure Expertise
You may be a trustee for a debt instrument that is not performing. Or perhaps you have a situation that requires an independent party to run a cost effective and commercially reasonable independent sale process, so that you can fulfill your fiduciary and legal duties and/or exercise your remedies under the terms of your agreement. Streambank is your solution.
Who We Are
Hilco Streambank is a team of professionals who have been conducting intangible asset sales in bankruptcy and foreclosures for decades. We run efficient and commercially reasonable sale processes for secured lenders looking either to foreclose on or to liquidate their collateral. We have broad experience across a number of asset classes including financial investments, patent portfolios, real estate projects, and operating companies in a variety of industries.
Hilco Streambank Article 9 Services
Whether lenders seek to conduct a commercially reasonable process before taking back their collateral, whether they want to run a value-maximizing process with the goal of liquidating their position, or whether they seek to use a sale process to determine which path to take, Streambank can assist.
A Streambank-run process allows a foreclosing lender to feel confident in the commercially reasonable nature of a sale process, and allows lender’s counsel to focus on legal advice and documentation with respect to the sale. We have experience in numerous jurisdictions, including New York, Delaware, California and Michigan.
We are Experts at Running Commercially Reasonable Processes and Maximizing Value. Here’s How We Do It:
- Work with counsel to develop notice materials, including notice of sale and publication notice, and work directly with newspapers and trade publications to publish notice.
- Bring to bear an extensive database of contacts and a unique approach to ensuring that we connect with the logical potential buyers and also those parties that others may have overlooked.
- Develop reasonable procedures for bidding and conduct of the auction. Having conducted hundreds of auctions, we can make recommendations with respect to structure and ensure that the lender maintains flexibility with respect to the auction.
- Know what potential buyers want to see in a deal, and we work with the lender and, in certain cases, the borrower, to ensure we provide potential buyers with the diligence they need to get comfortable placing a bid.
- Spend considerable time thinking about how to package the assets—as a bundle or as subsets.
- If called upon, we will testify regarding the process. We have testified in numerous state and federal courts in support of processes we have conducted.