A successful workout requires the ability to deal with a wide variety of issues, and we take advantage of the unique wealth of information and expertise possessed by our Firm’s colleagues. Our overall approach to workouts is a “business oriented” one that sensitizes the client to relevant legal issues and tailors the legal response to conform to the client’s business considerations. We have skilled Attorneys with diverse backgrounds in both the bank and financial sectors. As a result we can work with you to defend or prosecute your commercial loan needs. We are well versed in the specific laws and legal techniques associated with distressed real estate loans, including:

Mortgage Foreclosure

Consent Foreclosure

Participating Mortgages

Debt to Equity Conversions

Secured Debt to Mezzanine

Deed in Lieu of Foreclosure

Single Asset Bankruptcy (including "cram down" analysis, "lift stay" and bad faith filing)

Non-recourse Carve-Out Analysis & Collection

Restructuring

UCC Sales

Debt Sales

Negative Amortization

Lock Boxes

Receiving Mortgagee in Possession

Ground lease Termination

Mezzanine Debt Foreclosure

Consolidations and Spreaders

Springing Guarantees

Our attorneys have extensive experience in receiverships, prosecuting and defending judicial foreclosure matters of varying sizes and degrees of complexity, and obtaining and collecting deficiency judgments. We are experienced in representing lenders to obtain appointment of, and to work with, receivers in order to:

Collect income from real property collateral
Protect property from waste or material injury pending foreclosure
Complete improvements and cope with environmental problems
Recover diverted collateral
Aid in execution of judgments
Seize control of partnership assets during dissolution and wind up partnership affairs
Conserve property pending the outcome of litigation
Assert control over assets and collect debts during a corporate dissolution and divide corporate assets among stockholders
Act as an equity receiver, including operating a borrower’s business pending the resolution of litigation

We have considerable experience in renegotiating troubled loans, addressing lender liability exposure, strengthening the lender’s position if the borrower ultimately files bankruptcy, and making arrangements for resumption of loan payments and/or setting deadlines for disposition or refinancing of property. Our attorneys have in-depth experience in:

Litigating the use of cash collateral
Negotiating stipulations for use of cash collateral
Obtaining relief from the automatic stay
Moving to dismiss “bad faith” filings
Litigating and negotiating adequate protection payments, preference actions, and fraudulent transfers
Obtaining appointment of Chapter 11 Trustees
Moving to compel assumption and/or rejection of real or personal property leases
Objecting to disclosure statements and plans of reorganization

We frequently assist clients in negotiating consensual plans of reorganization with debtors, resisting unreasonable “cram down” plans proposed by debtors, purchasing claims of secured and unsecured creditors, purchasing and selling estate assets and proposing and confirming competing creditors’ plans. We also regularly represent commercial landlords whose tenants have filed bankruptcy petitions.