Williams Mullen's Comeback Plan: Part IV - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
A recent decision by the U.S. Bankruptcy Court for the Southern District of Illinois underscores that creditors must exercise caution in relying on pre-petition waivers of the automatic stay in collection actions. ...more
The commercial real estate industry is facing an impending tsunami of $2 trillion in debt maturities, with an estimated $929 billion coming due this year. If you will be caught in this net because the loan secured by your CRE...more
During times of market disruption and economic uncertainty, the representations and covenants set forth in a credit agreement play an even more important role in the ongoing relationship among the loan parties and lenders....more
With interest rates rising and inflation and energy prices at record levels, the government, major mortgage lenders and the UK FCA have agreed a range of measures that firms can use to support their existing mortgage...more
Three Important Ways the COVID-19 Pandemic is Changing the Delivery of Consumer Financial Services - The world continues to come to grips with the daily changes brought by the COVID-19 pandemic. Schools contemplate...more
Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
As we continue our series on bankruptcy litigation, we want to discuss the use of receiverships as an important aspect of a fully developed creditors' rights practice. Creditors often face recalcitrant corporate debtors who...more
Iowa Orders - In March, Governor Reynolds issued proclamations intended to provide relief for residential evictions and leases: ..March 20, 2020 - suspended residential evictions and lease terminations because of...more
As the COVID-19 or novel coronavirus pandemic continues, landlords have increasingly received communication from distressed tenants requesting rent relief and, in some circumstances, lease termination....more
Force majeure clauses are provisions in contracts that either defer or release parties from contractual obligations due to specific circumstances beyond the control of the breaching party. Such clauses allocate the risks of...more