Challenge:

A hedge fund required expert ratings analysis in a real estate-related Collateralized Loan Obligation (CLO) bankruptcy case involving 15 bonds underlying the CLO.

Solution:

The assignment entailed two parts: 1. Analyzing the creditworthiness of 15 REITs and financial service firm bonds based upon rating agency methodologies, and providing estimated ratings for generic senior unsecured debt, subordinated unsecured debt, and preferred stock, at multiple points in time on the basis of publicly available financials. These ratings analyses were crucial in assessing the market value of the CLO. 2. Providing expert witness testimony in court on the ratings methodologies and analysis, and submitted a 98-page expert report.

Result:

Credible, methodology-driven evaluations and testimony played a key role in strengthening the client’s position—leading to a favorable settlement in a high-stakes litigation.

Challenge:

A tenant in a shopping center sued their landlord for leasing adjacent space to a user that they claimed was not an appropriate retail tenant.

Solution:

Assessed industry trends on co-location of this type of space user in other similar shopping centers in this and similar locations. Determined that this use was supported by current industry practice and prevalent in similar centers in this and other regions of the country.

Result:

The case is currently ongoing, with the analysis forming a key component of the defense strategy.