Tenant-In-Common Workouts: Latest Developments
Strategies for Owners, Sponsors, Brokers and Lenders Evaluating TIC Workout Options
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will provide counsel with a review of the current state of tenant-in-common (TIC) deals, the most common TIC workout scenarios, and practical tips to aid TIC owners, sponsors, brokers and lenders evaluating TIC workout options.
- Current state of TIC deals
Key issues/complexities in TIC workouts
- Multi-party structure of TICs
- Lack of control over borrower/property owner
- Conflicts of interest in selecting counsel
- Replacing the existing TIC sponsor
- Lender consent/non-recourse carve-out guarantees
Lender reaction to TIC workouts
- Expansion of recourse liability
- Change in structure
- Required capital calls
Collateral issues to be considered in a TIC workout
- Bankruptcy issues
- Tax issues
- Securities issues
The panel will review these and other key questions:
- How has the real estate slowdown impacted TIC deals?
- What are the unique complexities of TIC workouts?
- What collateral issues should be considered during a TIC workout?
- How can counsel representing parties in a TIC workout best advise their client?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Coni S. Rathbone, JD, CRE
Zupancic Rathbone Law Group
She regularly helps clients in the purchase, development and sale of commercial property. She works on securities... | Read More
She regularly helps clients in the purchase, development and sale of commercial property. She works on securities transactions including private placements, focusing on real estate securities. She does significant work in corporate and limited liability company formation. Over the last nine years, her legal teams have represented over 125 TIC groups in workout situations.Close
Gary W. Marsh
McKenna Long & Aldridge
He focuses on bankruptcy, workouts and debtor/creditor law. He has extensive experience representing creditors in and... | Read More
He focuses on bankruptcy, workouts and debtor/creditor law. He has extensive experience representing creditors in and out of bankruptcy court in enforcing their rights and remedies. He also analyzes and defends against preference and fraudulent conveyance actions, represents buyers of assets out of bankruptcy, and represents landlords and other parties who have leases or contracts with debtors.Close
William M. Levinson
Co-Chair Financial Services Industry Practice Group
Co-Chair of the firm’s Financial Services Industry Practice, he has more than three decades of experience... | Read More
Co-Chair of the firm’s Financial Services Industry Practice, he has more than three decades of experience representing and guiding clients in a wide range of strategic corporate, securities, real estate and financing transactions, with a particular focus in municipal finance.Close