Receiverships: Effective Remedy for Distressed Commercial Real Estate

Maximizing Property Values and Minimizing Legal Risk Through Court-Appointed Receivers

Recording of a 90-minute premium CLE webinar with Q&A

Conducted on Thursday, June 30, 2011

Recorded event now available

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Program Materials

This CLE webinar will provide guidance to counsel for lenders, borrowers and loan servicers on evaluating whether to seek or oppose a receivership for distressed commercial real estate. The panel will also explain how lenders, borrowers, servicers and prospective buyers can navigate the receivership process.

Description

Receiverships have emerged as a faster, cheaper and lower liability alternative for lenders and loan servicers dealing with distressed assets. Lenders and servicers appoint receivers to manage, market and sell distressed assets during or in lieu of foreclosure.

Receiverships offer several benefits to lenders and servicers, primarily by providing an opportunity to stabilize and maximize the value of the subject property in a relatively quick and cost-effective manner. Receiverships also help protect lenders from lender liability claims.

Properties in receivership can be a great value for potential buyers, since they may be offered for sale at a substantial discount from market prices or replacement cost. In some instances, properties may be sold with assumable financing, an attractive option in the current lending environment.

Listen as our authoritative panel explains the factors that counsel for lenders, borrowers and servicers should consider when evaluating whether to seek or oppose a receivership for distressed commercial real estate. The panel will also explain strategies for navigating the receivership process.

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Outline

  1. Receiverships—overview
    1. Receivership defined
    2. Types of receiverships
    3. Appointment of the receiver and the receivership order
    4. The receivership process and reporting requirements
    5. Factors to consider when evaluating whether to seek or oppose a receivership
  2. Common legal and business considerations with receiverships
    1. Receivership fiduciary obligations and liabilities
    2. Shelter from lender liability
    3. Borrower bankruptcy issues
    4. Risks to prospective buyers—no representations or warranties on property, dealing with defaulting borrower, title issues, etc.
    5. State court versus federal court—pros and cons
    6. Managing costs of receiverships

Benefits

The panel will review these and other key questions:

  • How are receiverships being used in the distressed property market?
  • What factors must be considered by lenders, borrowers and servicers when evaluating whether to seek or oppose a receivership?
  • What are the benefits and risks to prospective buyers considering purchasing a property through a receivership?

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

Faculty

Henry P. Lorber
Henry P. Lorber
Managing Director
Hays Financial Consulting

He has more than 35 years of experience in successful creative restructures and disposition of troubled real estate...  |  Read More

Samuel H. Levine
Samuel H. Levine
Partner
Arnstein & Lehr

His practice covers a broad spectrum of activities in the area of real estate litigation, including commercial mortgage...  |  Read More

Stephen J. Donell, CPM®, CCIM, ARM®, CCRM®
Stephen J. Donell, CPM®, CCIM, ARM®, CCRM®
Receiver and President
FedReceiver.com

He has been involved in the acquisition, development, marketing and management of properties and businesses in...  |  Read More

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