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
When commercial real estate loans go into default, workouts are often pursued to resolve the default by agreement. What are the common forms of workout agreements? For commercial real estate borrowers in default, it’s...more
If you are a mortgage lender who followed the recommendations in the first two articles in this series, then you have performed due diligence on your mortgage portfolio and have taken note of the many options that are...more
If you are a mortgage lender who followed the recommendations in the first article in this series, then you should have a solid grasp of your mortgage portfolio. You have identified the relevant players and their respective...more
In this program, attorneys in Restructuring & Reorganization, Real Estate, and Tax will discuss commercial real estate loan workouts and amendments: the path most often taken by commercial real estate lenders in 2023 when a...more
On June 29, 2023, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and National Credit Union Administration (the agencies) jointly issued...more
On June 29, 2023, a new interagency Policy Statement (the Statement) was issued relating to commercial real estate (CRE) loan accommodations and workouts. The Statement is relevant to all financial institutions governed by...more
Since early 2023, there has been consistent reporting of possible turbulence and increased default risk relating to commercial real estate loans. These concerns are driven by historic levels of maturing debt, which is in many...more
With the economy tightening and interest rates continuing to increase to amounts greater than have been seen in the recent past, lenders are facing more requests for assistance from debtors who are unable to repay their loans...more
The bankruptcy court’s decision in Svenhard’s provides a path forward for potentially increased creditor recoveries. To assume an agreement under section 365, the agreement must be an “executory contract,” which generally...more
As the trend to legalize the medical and recreational use of marijuana continues to blaze through the states, federal law, and bankruptcy courts by extension, have not yet followed suit....more
Deferral agreements, or workout agreements, are a favorable option for franchisors seeking to restructure and manage the obligations of a struggling franchisee before more draconian measures, such as termination of a...more
Recreational or medicinal cannabis is now legal in 35 states and the District of Columbia. But cannabis is still a Schedule I controlled substance under the federal Controlled Substances Act, which presents a host of problems...more
While many real estate developers are grappling with the costs of the COVID-19 pandemic, astute investors are surveying opportunities, particularly in distressed condominiums. COVID-19 has shined a spotlight on the...more
Noel R. Boeke Since COVID-19 hit, there has been a wave of bankruptcies in the food and beverage industry, and more are expected to follow. See, e.g., In re TooJay's Management LLC et. al., No. 9:20-bk-14857 (Bankr. S.D. Fla....more
What are the bankruptcy implications of the treatment of a tenant’s security deposit following a payment default? Many non-residential tenants are now or are likely in the future to be unable to pay rent and landlords will...more
COVID-19 has been devastating for hotels and other businesses in the hospitality industry because of significant business closures and the elimination of recreational travel. Oxford Economics predicts 2.8 to 3.4 million jobs...more