Receiverships for Distressed Commercial Real Estate: Lender, Servicer, and Borrower Concerns
Process and Key Provisions in Order Appointing a Receiver; Pros and Cons of Receiverships
Recording of a 90-minute premium CLE webinar with Q&A
This CLE webinar will provide guidance to counsel for lenders, borrowers, and loan servicers on seeking or opposing the appointment of receivership for distressed commercial real estate. The panel will also explain how lenders, borrowers, servicers, and prospective buyers can navigate the receivership process.
- Receivership overview
- Receivership defined
- Types of receiverships
- Appointment of the receiver and the receivership order
- The receivership process and reporting requirements
- Factors to consider when evaluating whether to seek or oppose a receivership
- Common legal and business considerations with receiverships
- Receivership fiduciary obligations and liabilities
- Shelter from lender liability
- Borrower bankruptcy issues
- Risks to the prospective buyer: no representations or warranties on the property, dealing with a defaulting borrower, title issues, etc.
- State court versus federal court: pros and cons
- Managing costs of receiverships
The panel will review these and other notable questions:
- What factors must be considered by lenders, borrowers, and servicers when evaluating whether to seek or oppose a receivership?
- What are the critical provisions for any receivership order?
- What are the benefits and risks to prospective buyers considering purchasing a property through a receivership?
Mr. Ormond has over 20 years-experience that includes business law, real estate, banking, receivership law, cannabis regulations, commercial litigation, and restructuring. He has tried cases in state court, federal court and bankruptcy court and he has arbitrated dozens of matters. Mr. Ormond is recognized as one of the nation’s leading experts on receivership law and other equitable solutions. Mr. Ormond serves as the President of the California Receivers Forum and he is the former Chair of the Remedies Division of the Los Angeles County Bar Association.Close
Mark A. Silverman
Mr. Silverman is a co-team leader of the firm’s Commercial Mortgage-Backed Securities Special Servicer Group and... | Read More
Mr. Silverman is a co-team leader of the firm’s Commercial Mortgage-Backed Securities Special Servicer Group and is a member of the firm's Financial Industry Group. He practices in the areas of creditors’ rights, loan workout, bankruptcy, and loan enforcement on behalf of large, mid-sized, and small banks, financial institutions, fintech companies, and the nation’s largest CMBS special servicers. Mr. Silverman’s significant commercial foreclosure and workout experience spans many sectors including hospitality and hotel, commercial office and mixed-use centers, multi-unit housing complexes, busted residential developments, medical facilities, industrial, golf courses, and airports.Close
Matthew S. Tarshis
Frontline Real Estate Partners
Mr. Tarshis is responsible for leasing the company’s owned portfolio consisting of retail properties. In addition... | Read More
Mr. Tarshis is responsible for leasing the company’s owned portfolio consisting of retail properties. In addition to supporting the Frontline team with acquisitions and dispositions, he also represents both landlords and tenants and is involved with lease negotiations, sales, purchasing, market research, and site selection. Prior to joining Frontline, Mr. Tarshis was a member of RKF where he supported the firm’s Chicago brokerage team on both landlord and tenant representation activities. He also was responsible for updating RKF’s listings database and searched and explored for new retail opportunities.Close