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Independent directors safeguard bankruptcy remoteness across CMBS, ABS, project finance, CTL, and private credit. They protect cash flows, meet rating agency standards, and bolster lender confidence. SPE Specialists provides experienced directors who ensure structures remain compliant, credible, and resilient.

Are independent directors always worth the cost and complexity in a deal? On one hand, they are essential for securing investment-grade ratings, protecting lenders, and improving market liquidity. On the other, they aren’t infallible and can be undermined by information gaps or compromised objectivity. Before you structure your next deal, dive into our breakdown of the crucial benefits and potential pitfalls to ensure you're making the right call.

An Independent Director in CRE isn’t a strategist or advisor—it’s a safeguard. Their sole role is to protect lenders by maintaining bankruptcy remoteness and preventing unauthorized filings. Simply put: Independent Directors protect lenders; Board Directors protect equity.

In structured finance, ratings live or die on deal structure. One element agencies often require for investment-grade, especially on $20M+ deals, is an independent director. Here’s why that role curbs bankruptcy risk, strengthens SPEs, and lowers financing costs, and how SPE Specialists helps issuers meet the mark.

Independent directors are widely used to help maintain bankruptcy remoteness, but is their power to block a bankruptcy filing truly enforceable? U.S. bankruptcy law is built on the principle that any eligible entity should have access to the protection of the courts when facing financial distress.

101 Via Mizner Bankruptcy Ends in Fire Sale. Sold for $235M, well below the non-bankruptcy reported value and and Grant Cardone, which will be merging this asset with a $100MM bitcoin fund with a planned condo exit

When lenders require a bankruptcy-remote structure in a structured finance transaction, the inclusion of an independent director isn’t optional, it’s essential. But how exactly are these directors appointed? And what qualifies someone to take on this critical role?

In structured finance, the role of an independent director isn’t about daily oversight or executive leadership, it’s about control at critical moments. Their job and responsibilities center on protecting the bankruptcy-remote status of a Special Purpose Entity (“SPE”), especially when the stakes are highest.

Six months of legal battles, uncertainty, and value destruction, all avoidable with proper governance structures in place. In volatile markets, independent directors are insurance against exactly this scenario.

A NYC multifamily developer just combined dozen of entities and 5,000 units into a Chapter 11 bankruptcy filing - exactly what bankruptcy...

Independent Directors are individuals who are unaffiliated with the borrower or its corporate group and are appointed to serve on the board or governing body SPE.

In today’s fast-moving commercial real estate debt markets, timing is everything and the checklists are daunting. At SPE Specialists, we don’t just promise rapid execution, we deliver it. Last week, a sponsor came to us with a last-minute closing deadline and zero margin for error. In under 24 hours, our team had everything in place to keep the deal on track.

What Is Bankruptcy Remoteness and Why Does It Matter? In the world of structured finance, risk isolation is everything. When lenders and investors commit capital to a transaction, they need certainty that their investment won’t be swept up in someone else’s financial troubles. That’s where bankruptcy remoteness comes in—a legal and structural safeguard that helps protect assets from the fallout of corporate insolvency.