Problem
A corporate lender was facing a default on a loan of $0.8 million from a failing Turkish industrial company, which had ceased trading and whose listed assets were attached by other creditors.

Scope
IRM was instructed to obtain intelligence about any significant real estate assets linked to the company’s owners while the client sought to obtain title against the company owners in a Turkish court.

Solution
IRM developed intelligence pointing to the existence of several private properties, including one registered in the name of one of the company owners who had assumed personal liability for the debt.

Result
The corporate lender was able to obtain an attachment order on the specific property, whose value exceeded that of the bad debt, and eventually liquidated the asset through a forced sale.