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Case Study 7 – Property Receivers Removed

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In this case, the businessman had 5 buy-to-let properties. There were large but not overly significant arrears in respect of each of the mortgages. The bank had appointed receivers to all 5 properties primarily because they hadn’t heard from the client or client wasn’t, in their view, fully engaging. The receivers were appointed prior to the consultation with the financial surgeon. The surgeon negotiates with the banks. It took a 6-month process but they then agreed to remove the receivers from all 5 properties. The surgeon then agreed a proposal with the bank over a 5-year period to restructure the loans at lower repayments which could then be met from the rental income.

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David Murray

David Murray

David is a fully and Highly Qualified Financial Accountant with an unblemished record for almost 30 years.

David has an extensive Academic Record including, inter alia – Gold Medal College of Commerce – First Place Chartered Accountancy (ROI) – Fastest Graduate to Qualify.

David has written many articles on International Trade Finance in Magazines and Sunday Business Newspapers. In addition, has been Late Late TV Show Tested on cases referred by them.

David has extensive Business Experience particularly in Property, Construction, Manufacturing, Equipment, Telecom, Service Companies, SME Sectors in Ireland, UK, Dubai, Poland, etc., Agent in Ireland Bank of Iran, Plc Bank Seminars “Finance for Builders”, etc., etc.

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