The Asset Consolidation department comprises two major work cells: the property management cell and the debt recovery cell.

Property Management Cell

This cell represents local, ex-patriate or prospective owners of Lebanese real property and administers their real estate including leasing, rent collection, necessary permits, sales and tax valuation. This group also takes care of all real-estate related issues including:

• Real estate and property development and sales

• Advising, negotiating and drafting of commercial and residential leases (Commercial real estate transactions)

• Search of Deeds; Verifying, modifying titles of ownership (Real estate transactions)

• Contesting real-estate evaluations and property transfer dues and taxation (Tax Evaluations)

• Realizing mortgages and similar real collateral (Real estate financing)

• Challenging municipal legislation in matters of zoning (Zoning regulatory practices)

• Land development, planning and real estate construction projects and financing (Construction contracts) (Project development)

• Condominiums and commercial leasing management (Commercial leasing)

Debt Recovery Cell

Through the use of proper procedures ranging from foreclosure on movable or immovable assets or collateral to criminal action (where permissible), this group aims to obtain the reimbursement of outstanding debts on behalf of clients. The cell also takes care of all debt instrument realizations including:

• Research and identification of defaulting debtor’s financial situation (Debtor identification)

• Execution of foreign judgements concerning debts (Foreign judgment enforcement)

• Realizing the payment of outstanding accounts receivables and unexecuted promissory notes (Debt collection) (Creditor’s rights)

• Cheques with insufficient provisions (Economic criminal law)

• Debt restructuring (Financial restructuring)

• Bankruptcy and insolvency (Bankruptcy)

• Foreclosures (Creditor’s rights)

• Equipment financing and leasing issues (Financing of equipment)