Realising
value Orion asset services

Successfully repossessing, marketing and disposing of properties used as collateral for loans in default has become increasingly challenging.

Lenders face multiple hurdles including;

• Declining property values
• Vulture purchasers seeking to undermine distress sale values
• The increasing unfolding of frauds and suspect valuations
• Government led policy increasing the repossession burden on lenders

The above are exacerbated for large and / or complex loans.

Such loans and their associated security require specialist attention.

Orion offers its clients a specialist bespoke service in dealing with large, complex and often fraudulent loans and pursuing a maximum cost effective recovery strategy.

We will also be pleased to assist you with the recovery of less complicated loans – for example where your current handling capacity is being exceeded.

Loan Recovery

Clients approach Orion for assistance in managing and recovering difficult and complex secured loans which call for skills and resources that are not always available in-house. Such loans invariably have multiple complications including;

• High or even negative loan to values
• Lender / borrower relationship breakdown
• Difficult or even criminal borrowers
• Complex or unique properties
• Damaged or listed properties
• Defective title
• Second or multiple subsequent charges
• Suspect or incompetent original valuation(s)
• Prior ineffective management and / or marketing of the property
• Multiple security properties
• Incomplete Developments

We will review clients' files, visit the sites and where possible meet with the borrowers, before reporting back;

• On whether the security property matches what is in the file
• On our opion of the value of the security (where determinable) and
• With a strategy to deal with recovery or to enhance the current secured position

Recovery strategies may include i) determining how to obtain vacant possession including the eviction of unlawful occupiers (ii) appointing an LPA Receiver (iii) collecting rent or income from lawful occupiers without an LPA Receiver being appointed (iv) pursuing the borrower(s) and / or guarantors (v) considering the merits and practicalities of legal action against the surveyors and title insurance claims (vi) negotiating the "buy out" of prior ranking charges (vii) assisting with borrowers' refinance or purchasers' finance. (viii) obtaining additional security to enhance the lenders position. (ix) monitor and oversee the completion of works/development.

Where required, Orion can act as an interlocutor, mediating between lender and borrower and assisting in negotiations to restructure or modify loan agreements and assit borrowers to dispose of the security.

Some cases may just be about minimising and restricting losses and expenses.

The main areas where Orion can assist with Asset Recovery are: