Early Stages of a Commercial Loan Workout: Pre-Negotiation Agreements and Other Key Considerations
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will provide an in-depth discussion of considerations to be made by borrowers, guarantors, lenders, and servicers early on in the commercial loan workout process.
Outline
- Identifying defaults and strategizing on both sides--is a workout feasible?
- Potential initial steps to take after default, including a file review and the consideration of default notices
- Pre-negotiation agreements: key terms and considerations
Benefits
The panel will review these and other important issues:
- How does the concept of materiality figure into a lender's decision on whether to pursue remedies against a borrower?
- What due diligence steps should counsel take before engaging in workout discussions?
- When is a pre-negotiation agreement appropriate for a given transaction?
- What are the potential benefits for each side of a pre-negotiation agreement?
- After a pre-negotiation agreement is executed, what comes next?
Faculty
Arren S. Goldman
Partner
Seyfarth Shaw
Mr. Goldman concentrates his practice in commercial real estate transactions. He is co-lead of the firm’s... | Read More
Mr. Goldman concentrates his practice in commercial real estate transactions. He is co-lead of the firm’s Distressed Situations Team. Mr. Goldman represents lenders, developers, owners, and investors in a variety of complex real estate financing transactions. Additionally, he represents loan servicers in connection with a wide array of loan servicing matters, including transfer of ownership matters (such as non-permitted equity transfers and loan assumptions), property substitutions, and leasing-related matters. Throughout his career, Mr. Goldman has closed numerous acquisition, permanent, interim/bridge, construction, and mezzanine loans. He also has led teams that have closed over $1 billion in mortgage loans, secured by various properties around the country, many for securitization in the capital markets, and has worked on syndicated and participation loan transactions. Mr. Goldman is heavily involved with distressed asset situations and has worked on many loan workouts and restructurings.
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Cara M. Houck
Principal
Miller Canfield Paddock and Stone
Ms. Houck is a trial attorney specializing in commercial litigation. Prior to joining the firm, she worked at... | Read More
Ms. Houck is a trial attorney specializing in commercial litigation. Prior to joining the firm, she worked at McGuireWoods, where she defended several Fortune 500 companies in business disputes as well as product liability and mass toxic tort defense claims. Ms. Houck has tried lawsuits, conducted arbitrations, and appeared before state and federal courts around the country. She is recognized by Marquis Who's Who for Excellence in Law, Illinois Leading Lawyers, and Illinois Super Lawyers.
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Herman R. Lipkis
Partner
Holland & Knight
Mr. Lipkis focuses his practice on structured real estate finance, acquisitions, dispositions, hospitality... | Read More
Mr. Lipkis focuses his practice on structured real estate finance, acquisitions, dispositions, hospitality transactions, commercial leasing, management, and construction matters. He represents national and foreign financial institutions, borrowers, real estate developers, owners and operators in various types of loan transactions, including portfolio loans (acquisition, construction, development, bridge, revolving, term, permanent and mezzanine), commercial mortgage-backed security (CMBS) loans, syndications, intercreditor and participation arrangements. Mr. Lipkis has experience representing purchasers, sellers and developers in complicated real estate transactions throughout the United States. He regularly counsels clients on a variety of due diligence issues, including title, survey and municipal regulatory matters.
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