Joshua Homes

Situation

Joshua Homes, Inc. was a leading new home constructor and financier in Columbus, OH. Due to the downturn in the housing industry, the company was moving towards insolvency.

The Company hired Amherst to restructure all of its debt with its senior secured lender.

Solution

Amherst negotiated with the bank to take back all properties, deed-in-lieu, and place the owner’s residence in a trust with his option to repurchase it, and avoided bankruptcy.

Results

Amherst formed a new company to allow the owner a new start in the industry.