PRESIDIUM EMPOWERS ITS CLIENTS
TO TRANSCEND ADVERSITY
Presidium views its corporate obligors as Clients. Understanding the unique challenges of each of its Clients, Presidium cultivates strong relationships that are consultative and collaborative to address and solve key business issues – helping Clients meet the future with promise and reward.
In finance, a default is a failure to meet the legal obligations or conditions of a loan or a failure to promptly pay interest or principal when due. Default occurs when a corporate debtor is unable to meet the legal obligation of debt repayment. Corporations may default when they are unable to make the required payment or are unwilling to honor the debt. With most corporate debt, a covenant is included in the debt contract which states that the total amount owed becomes immediately payable on the first instance of a default of payment. Generally, if the corporate debtor defaults on any debt to the lender, a cross default covenant in the debt contract states that particular debt is also in default.
Defaulting on a debt obligation can place a company and its guarantors in financial trouble. Default is a sign that the borrower is not likely to make future payments. In corporate finance, upon an uncured default, the holders of the debt will usually initiate legal proceedings to foreclose on any collateral securing the debt. Even if the debt is not secured by collateral, debt holders may still sue for bankruptcy, to ensure that the corporation’s assets are used to repay the debt.
Presidium works closely with its clients to quickly evaluate opportunities and formulate solutions. Presidium leverages its knowledge and experience to understand the challenges and opportunities of the client and develop customized credit solutions. Deep knowledge and expertise at hand helps Presidium clients achieve their goals; empowering them to transcend adversity and create stronger, more sustainable companies.
At this critical junction, Presidium assists corporations and executive management to drive change within their organizations to meet their obligations and derive maximum value from assets. Presidium solutions produce results for companies that are positive, impactful and create enduring change within an organization – stimulating a future that can harness and retain value for the long term.