Leaverton Quoted in PSBJ Article on Loan Workouts
In the August 20 issue of Puget Sound Business Journal (“PSBJ”), Lane Powell Shareholder Bruce Leaverton was quoted in an article titled “Workouts on the Rise.” The article — which details the popularity of “working out” bad debts instead of resorting to bankruptcies and foreclosures — emphasizes the complexity of such deals.
“It’s like a conductor looking for a flute player,” remarked Leaverton, likening the deals to putting together an orchestra. “Everyone should have a Rolodex replete with these people,” he continued, referring to property managers. “The challenge in most cases is there is not a lot of cash flow to support a lot of restructuring.”