Henry Lorber and Associates (HLA) takes a very methodical approach to assignments into which we are invited.
As always, the first analyses are simultaneously of the businesses and the personalities of the participants involved. Multiple generations of related or unrelated individuals complicate both the management and the ability to plan the future path of the business. What we have found through years of experience is that, especially in conflict scenarios, the businesses seem to become secondary and are therefore frequently damaged due to either neglect or the inability of the parties to agree as to how they should be managed.
The HLA staff begins any assignment focused on a partnership dynamics and how the participants handle conflicts. The immediate needs of the businesses are then evaluated and what, if any, critical actions (ie..insurance, financial or litigation deadlines) are taken. Once HLA understands the needs of both the participants and the businesses, we are in a much better position to evaluate the short and long term needs of both.
Frequently, by just quieting the “noise level”, we are able to focus all on the needs of the business. For example, is ongoing management or leasing of the assets required? Is there a need to dispose of an unnecessary piece of collateral? Is there the ability or the need to refinance or payoff a loan secured by one of the holdings?
Once the priorities of both the principals and the business are established, HLA takes an active role in implementing agreed upon plans. A critical portion of this is to ensure that all parties have the same information at the same time. By treating all as equals, HLA reduces potential conflicts which otherwise might arise. Managing the process impartially helps to create the atmosphere in which the assets and the partners (family or otherwise) can all share in the opportunities as they are presented.