An assignment is the simplest and fastest instrument for lenders to dispose of problem loans on an ‘as is, where is’ basis. Depending on the complexity of the file, Solas Finance can generally close within 3 to 4 weeks. As soon as the loan is moved to the lender’s internal work-out or special loans department, we have an interest in looking at it. We can generally make an indicative offer within 2-3 days, before performing due diligence. We also look at syndicated loans, where the sale to a third party may help to resolve a dispute between the various lenders.