Industry

Real Estate | Luxury Homebuilder

DSI'S Role

Chief Restructuring Officer

Services Provided

  • Business Plan Analysis
  • Debtor Advisory
  • Due Diligence
  • Financial Restructuring

WL HOMES D/B/A JOHN LAING HOMES

Case Highlights

  • Large builder of luxury homes, primarily in California
  • Founded in 1848, among the nation’s oldest homebuilders

Case Narrative

A DSI professional was engaged as the Chief Restructuring Officer for this large builder of luxury homes, a role continued after the company filed its Chapter 11 bankruptcy petition.  At the time of the engagement, the company had approximately 100 project developments across California as well as developments in Colorado, Arizona and Texas.  Hit hard by the housing slump, the company’s revenues fell from nearly $1 billion in 2007 to under $300 million by late 2008.  Among other aspects of this engagement, DSI negotiated with lenders and others regarding the company’s complex debt structure and worked with the company’s Dubai-based owner as appropriate in the effort to restructure the company.  We also assessed viability and strategic options for various business units and projects.