Management & Restructuring
Over the past 10 years Stacks Finance has been invited by Members to manage and restructure external mortgage funds on the Eastern Seaboard of NSW. In most cases this will result in a change in responsible entity (or trustee) of the managed fund or the restructure of a mortgage scheme to create an entity which provides a better opportunity for members to recover capital from their fund, usually in cases where the fund is either frozen or in windup.
In particular Ray and Paul Stack have been involved in all aspects of the winding up of both registered and unregistered mortgage schemes. Our role involves:
- The management of the investor register;
- the repayment of investors following the sale of mortgage property;
- liaising with borrowers to develop solutions for loans in default;
- issuing of default notices and applying to the Court for orders for possession and the forced sale of securities; and
- commencing proceedings in the Supreme Court for a Court appointed receiver to finalise the wind up of a mortgage scheme.