On June 23, 2009 G-Force Group held a Real Estate Recovery Solutions seminar for Lenders to the Real Estate & Hospitality Industry Sectors at UBC Robson Square.
The seminar was a practical and timely session to share our findings and experience in dealing with symptoms of distressed real estate in today’s market. A variety of diagnoses, decision-support tools and practical solutions to minimize loan losses were discussed, including:
- Recognizing danger signs and loan recovery risks early, including some very common ones that are often hidden
- The importance of sound diagnosis, development of business and market solutions and timely implementation to maximize loan recoveries in this tough market
- Understanding how to implement the business solutions required to enhance asset recovery utilizing the underlying frameworks that can be employed to deliver them. This includes normal course of business, informal monitoring process by lenders or through a formal insolvency proceeding including receivership, CCAA and Bankruptcy & Insolvency Act options
- Reviewing examples of cost benefit analysis of common strategies used, alternate approaches, use of the quick “look see”, and formal vs informal realization processes
- An expert’s view of the short to medium term real estate market in BC and the potential risk factors. Click here to download the presentation
The presenters included:
- Gary Powroznik FCA, Managing Director, G-Force Group (formerly Founder and President of PricewaterhouseCoopers’ Real Estate Advisory & Transaction [PwC REATS] practice in BC)
- Neil Atchison, Associate Director, G-Force Group (formerly Director, PwC REATS)
- David Atwater, Senior Consultant, G-Force Group (formerly Product Manager Argus Financial Software and VP Investments of Penreal Advisors)
- Daphne Hampson, Senior Consultant, G-Force Group (formerly VP of Intrawest ULC and Senior Director Canadian Operations of Westin Hotels)
- David Gruber, Partner, Blake, Cassels & Graydon LLP
- Don Redden, President, Redden Development Ltd. and Senior Consultant, G-Force Group
- Tsur Somerville, Professor & Director of UBC Centre for Urban Economics and Real Estate at The Sauder School of Business
- Daniel Stewart, Senior Consultant, G-Force Group (VP & Broker of Maverick Real Estate Corporation and former Real Estate Lender with Bank of America in Canada)
The session provided lenders with our findings and experiences from actual cases and ideas on how to augment their current loan monitoring and realization processes in the real estate and hospitality industry sectors.
To accommodate interested lenders who could not attend on June 23, we held a second seminar at our office on July 22. This seminar will be held again in September 2009.
If you would like to be notified about upcoming seminars please send us an email with your contact information. If you attended this seminar and would like to provide feedback, please provide your feedback here.
