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Lenders › Uniform Commercial Code (UCC) › Foreclosure

King & Spalding

S.D.N.Y. Rejects Borrower’s Equitable Defenses to UCC Foreclosure Sale

King & Spalding on

On March 3, 2025, the U.S. District Court for the Southern District of New York granted a lender’s motion for declaratory judgment to order a borrower to recognize the effect of a non‑judicial UCC foreclosure sale. The court...more

Shipman & Goodwin LLP

When Workouts Fail: Strategic Enforcement to Maximize Recovery

Shipman & Goodwin LLP on

Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more

Proskauer Rose LLP

Private Credit Restructuring: Strict Foreclosure Spotlight

Proskauer Rose LLP on

Chapter 11 is expensive and not always the right tool, particularly for a restructuring of a company with a broken balance sheet, as compared to a business with a broken business model. We have seen a significant uptick in...more

Balch & Bingham LLP

Alabama Enacts Uniform Commercial Receivership Act

Balch & Bingham LLP on

On May 15, 2024, Alabama became the thirteenth state to adopt a version of the Uniform Law Commission’s Uniform Commercial Real Estate Receiver Act (the “Act”). The Act seeks to bring more direction and clarity to...more

White and Williams LLP

New York County Supreme Court Upholds Accommodation Pledges

White and Williams LLP on

In recent years, the claim that an accommodation pledge attached to a mortgage loan effectively “clogs” a borrower’s right of redemption has been the basis of numerous civil actions in New York courts. With the case of Atlas...more

Goulston & Storrs PC

When the Levee Breaks: Understanding Key Variations in CRE Collateral and Foreclosure Processes

Goulston & Storrs PC on

Following the turmoil of the Great Recession, the commercial real estate (CRE) industry generally benefitted from favorable financing conditions for more than a decade. An ocean of available capital and low interest rates...more

Troutman Pepper Locke

NY Court Blocks Mezzanine Lender’s UCC Foreclosure Sale in Light of COVID-19 Pandemic

Troutman Pepper Locke on

On June 23, the New York County Supreme Court issued a rare preliminary injunction temporarily halting a mezzanine lender’s UCC foreclosure sale of the Mark Hotel in New York City because the procedures for the foreclosure...more

Ward and Smith, P.A.

I Want to Foreclose But I Can't Find My Note. Do I Have a Problem?

Ward and Smith, P.A. on

In my last article, I discussed whether inconsistent dates on a promissory note and deed of trust could cause problems in foreclosure. But what if you can't even find the original promissory note? Perhaps it was...more

Burr & Forman

Burr Commentary: Florida’s District Courts of Appeal Continue to Tighten Standing Requirements for Foreclosures

Burr & Forman on

The UCC was supposed to make enforcing negotiable instruments a simpler, more streamlined process. It has proven anything but in Florida.  Continuing a trend that now stretches back years, mortgage lenders have had an...more

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