Mezzanine Loan Foreclosure in Real Estate Transactions
Protecting Borrowers' and Lenders' Interests Under UCC Article 9
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will provide guidance for counsel to real estate borrowers and lenders facing a mezzanine loan foreclosure under Article 9 of the Uniform Commercial Code (UCC). The panel will outline best practices for lenders to carry out a UCC foreclosure.
Business and legal considerations
- Business review
- Real estate due diligence
- Legal review
Foreclosure by sale
- Basic rules
- Public vs. private sale
- Mechanics of the foreclosure process
- Traps for the unwary
- Borrower and guarantor responses to lender actions
- Nature of the remedy
- Strict foreclosure mechanics
- Potential problems
- Joint administration
- Dismissal of bad faith filings
- Lift stay motions
- Substantive consolidation
- Other bankruptcy issues
The panel will review these and other key questions:
- What protections does UCC Article 9 afford mezzanine borrowers facing loan foreclosure?
- How should intercreditor agreements be structured to best protect the interests of mezzanine lenders?
- What strategies should mezzanine lenders and borrowers use to effectuate a smooth UCC foreclosure?
- What bankruptcy considerations come into play when a mezzanine loan goes into default?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Senior VP UCC Division
Fidelity National Financial
Mr. Zimmerman supervises and coordinates the underwriting, policy and production personnel and functions for the... | Read More
Mr. Zimmerman supervises and coordinates the underwriting, policy and production personnel and functions for the company's UCC Insurance Division. He reviews and evaluates transaction structure and provides feedback on the insurability of major-market commercial finance and mezzanine loan transactions.Close
He practices in the area of commercial restructuring & bankruptcy, focusing on bankruptcy and workout matters,... | Read More
He practices in the area of commercial restructuring & bankruptcy, focusing on bankruptcy and workout matters, representing both debtors and creditors. He is regularly involved in bankruptcies and other court proceedings, as well as with a number of out-of-court workouts. Stephen often chairs arbitration proceedings and hearing panels to resolve disputes related to the commodity futures industry.Close
Mr. Cochran has extensive experience advising clients in workouts and restructurings involving complex collateral... | Read More
Mr. Cochran has extensive experience advising clients in workouts and restructurings involving complex collateral packages and multiple jurisdictions. He represents lenders in mezzanine loan transactions and other sophisticated commercial real estate financings, and has acted for lenders and other stakeholders in various bankruptcy matters, including DIP financings, section 363(f) sales and claims transfers.Close