Resolving non-performing loan exposure

Challenge: A state-owned bank was unable to resolve a longstanding NPL exposure

A large state-owned bank sought to resolve longstanding non-performing loan exposure against a corporate borrower and its personal guarantors, including a prominent, well-connected and high-net-worth individual. Multi-year enforcement efforts in the local courts had proved unproductive and slow-moving.

Solution: Funded asset recovery efforts to inform enforcement strategy

Engaged to provide asset tracing services as well as financing, Burford identified previously unknown US and UK real estate assets owned by parties related to the guarantor and worked with the bank and its legal teams to formulate a global enforcement strategy, which Burford implemented by funding and supporting the bank’s enforcement litigation in jurisdictions including the US, UK, Jersey, Switzerland and the DIFC. Actions taken include innovative disclosure applications in offshore courts as well as attachment/freezing orders in traditional wealth protection jurisdictions.

Impact: The bank recovered a meaningful portion of its debt

Burford successfully froze cash, real estate and financial instruments with a combined value of more than half the total loan exposure.