Φ RCP · Lux et Ordo
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Debtor-in-Possession Financing

Lux et Ordo · Light and Order — Capital for the Estate in Possession

Strip the friction. Stack the truth. Move the capital.

A company in Chapter 11 does not need a rescue narrative.
It needs capital that reads the collateral.

Conduct
I

The Mandate

RCP arranges debtor-in-possession capital for Chapter 11 companies that own or control commercial real estate.

01 — Isolatethe asset
02 — Readthe cushion
03 — Structureto the budget
04 — Routeto the counterparty
No rescue posture No unbudgeted asks No personal-guarantee dependence

The estate is not short of options.
It is short of clean signal under court oversight.

RCP arranges the signal capital can act on.

Wrong audience.Wrong sequence.Wrong budget.Wrong presentation.
II

The Facility

Facility Size
$300K – $2MM

Senior debtor-in-possession capital sized to the court-approved budget.

Priority
Administrative

Structured for administrative-priority or priming status, subject to court approval.

Security
CRE Collateral

First or priming position against the estate's commercial real estate.

Recourse
Collateral-Based

Secured by firm assets — not personal guarantees.

Draw Structure
Budgeted

Funded to a court-approved budget and cash-collateral order.

Term
Case-Linked

Matched to the path to plan confirmation or exit.

Underwriting
Asset & Plan

Collateral value, cash flow, and feasibility — assessed by the capital counterparty.

Exit
Refinance / Sale

Flexible repayment and exit-financing options to support confirmation.

What proceeds support
Use of capital
  • Working capital to keep the business operating through the case
  • Pre-petition obligations approved for payment by the court
  • Existing debt service where the budget and order provide for it
  • Operating costs — payroll, vendors, occupancy, insurance
  • Cash-flow stabilization while counsel negotiates the plan
How the facility holds
Security & control
  • Lien on the estate's commercial real estate
  • Priority structured for administrative or priming status
  • Budget — funded to a court-approved order
  • Reserves as the order and collateral condition require
  • No personal guarantees — secured by firm assets
III

The Method

Strip
What we remove
  • Rescue narrative
  • Unbudgeted asks
  • Undefined exit
  • Personal-guarantee dependence
  • Unsorted petition file
  • Wrong capital audience
Stack
What capital reads
  • Collateral & equity cushion
  • Court-approved budget
  • Use of proceeds
  • Priority / priming position
  • Exit or recovery path
  • Counterparty fit

The Execution Standard

Five questions answered before a facility moves

We translate. We compress. We structure. We position. We control the signal.

What is the collateral?

What is the equity cushion?

What does the budget require?

What is the exit or recovery path?

Who is the correct institutional counterparty?

IV

The Read

A live read on the situation. Indicative only — the file decides.

Situation inputs
Indicative read
Capital stack vs. collateral
Collateral value
Existing senior DIP facility Equity cushion
Funded runway
Confirmation
Equity Cushionof value
Combined LTVexisting + DIP
DIP / Collateralfacility / value
Funded Runwayvs. case
Facility Size$300K–$2MM
Exitpath to repayment
Preliminary Execution Signal

Enter the situation

Provide collateral, existing debt, the requested facility, and the operating budget to generate a preliminary RCP read.

Collateral & plan posture

Equity cushion, funded runway, and the defined exit are weighed against the requested facility.

This is an indicative read, not an offer or commitment. Bring the situation to the desk to open an intake file.

Open intake file
V

The Intake File

File 01

Case posture

  • Case number and jurisdiction
  • Petition date or filing timeline
  • Debtor's counsel
  • Cash-collateral order status
File 02

Collateral

  • Property address and description
  • Asset class and occupancy
  • Most recent valuation or appraisal
  • Existing liens and balances
File 03

The request

  • Requested facility amount
  • Use of proceeds
  • Court-approved budget
  • Proposed priority and structure
File 04

Operations

  • 13-week cash-flow budget
  • Trailing operating statements
  • Current rent roll or revenue detail
  • Schedule of secured and unsecured debt
File 05

The plan

  • Reorganization strategy
  • Path to confirmation
  • Defined exit — refinance or sale
  • Major creditor positions
File 06

Sponsorship

  • Ownership and controlling parties
  • Management continuity
  • Operator experience and track record
  • Related-entity exposure
Φ

The Anchor

We do not chase capital.
We prepare the estate so capital can recognize it.

Capital follows attention — not the other way around.

Strip the friction. Stack the truth. Move the capital.
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