Bank Special Assets Alliance

For the bank, Second Wind pre-packages debtor consent to secured party sales, as part of going concern transactions. Banks exit a distressed credit for full asset valuation cleanly, either through a pre-packaged UCC Article 9 sale, or through a streamlined note sale.

Our process, featured in American Banker Magazine, increases total recovery value for banks, while also increasing the recovery value of any personally guarantied deficiency, whereas the bank’s guarantor will continue to earn within the entity purchasing the assets.

Through a Second Wind alliance, banks can transition underperforming and non-performing credits to ABL, despite the previous existence of sub-debt, which is fully resolved through our Article 9 process. By result, the bank recovers maximum value and avoids both reputational risk and the inefficiencies of formal liquidation, while also streamlining exits to ABL.

“It definitely is more advantageous to banks . . . It’s easier for them to offload underperforming loans and less expensive for them.”

Val Venable, National Association of Credit Management – in American Banker Magazine 4/23

“For those banks not as knowledgeable and experienced in how the Article 9 reorganization works, it would be advisable to be educated on this.”

James Van Horn, partner, Barnes & Thornburg, global president, TMA. – in American Banker Magazine 4/23