Loan Forbearance Options and Waivers After Default

Crafting Forbearance Agreements That Minimize Lender Liability and Bankruptcy Risks

Recording of a 75-minute CLE webinar with Q&A

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Conducted on Wednesday, September 5, 2012

Recorded event now available

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Course Materials

This CLE course will prepare counsel to craft effective forbearance agreements that protect lender interests and minimize lender liability and risks in the event of the borrower’s bankruptcy.

Description

Well-structured forbearance agreements or waivers are essential to protecting a lender’s position. Counsel representing lenders must anticipate and successfully navigate obstacles during the negotiation process and avoid pitfalls that can result in lender liability challenges by borrowers.

As forbearance agreements may then be followed by the borrower’s bankruptcy, counsel must also be mindful of the bankruptcy considerations when drafting forbearance agreements. Waivers of the automatic stay and stipulations supporting relief in a bankruptcy filing can be critical.

Listen as our authoritative panel of attorneys discusses best practices for crafting forbearance and waiver agreements that minimize lender risks and liabilities.

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Outline

  1. Drafting the forbearance or waiver agreement
    1. Waiver of existing defaults
    2. Borrower representations and warranties
    3. Strict compliance with loan documents
    4. Expiration date and early termination
    5. Fees
    6. Ratification of obligations
    7. Confirmation of liens and security interests
    8. Release of claims
  2. Post-default waivers
  3. Minimizing lender risks
    1. Lender liability challenges
    2. Bankruptcy considerations

Benefits

The panel will review these and other key questions:

  • What is the difference between forbearance and waiver—and which option is best for the lender?
  • What critical provisions must be contained in the forbearance or waiver agreement?
  • What unique risks does the borrower's bankruptcy pose and how can counsel minimize these risks in crafting the forbearance agreement?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Andrew L. Turscak
Andrew L. Turscak
Partner
Thompson Hine

He is a member of the Firm's Business Restructuring, Creditors' Rights & Bankruptcy and Business Litigation...  |  Read More

Curtis L. Tuggle
Curtis L. Tuggle
Attorney
Thompson Hine

He is a member of the Firm’s Business Restructuring, Creditors' Rights & Bankruptcy practice group where he...  |  Read More

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