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April 2015 – Richard Rogan’s article “Commercial Loan Workouts: 10 Points to Consider in Developing a Workout Strategy” was published in Volume 34 Number 4 of the Banking & Financial Services Policy Report published by Wolters Kluwer Law and Business.
I will be a panelist discussing “Specialized Loan Workouts” at the upcoming 4th Annual Special Assets Management Association conference to be held next week at the Santa Barbara Biltmore Hotel. My fellow panelists are the highly capable workout professional Cyndee Herles, Senior Vice President of Comerica Bank and hotel receiver Tim Post of Amber Hotels, […]
As we all know, there are business cycles that affect certain industries. When the going is good, lenders are lining up to make loans, and borrowers are not as picky as one might hope in taking on debt. When the worm turns, however, borrowers often find themselves in financial distress, right along with their competitors. […]
Quick! Name a celebrity bankruptcy lawyer! Drawing a blank? That’s because bankruptcy lawyers try hard to keep their clients out of the glare of publicity, and rarely comment on their clients’ matters. So, we were more than pleased when my partner, bankruptcy lawyer par excellence, Bob Kaplan, was featured in the recent Northern California Super […]
Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce that Ben Young has joined the firm as a partner in the Bankruptcy Department. With more than 30 years of experience in insolvency matters, Ben provides a full range of bankruptcy, insolvency and restructuring expertise to his clients. He handles debt and equity restructuring, […]
Assignments for the Benefit of Creditors are an often overlooked procedure for liquidating a company. A good way to understand ABCs is to think of them as an out of Court Chapter 7 case. Creditors – both secured and unsecured – and debtors turn to ABCs when a company (or its assets) need to be […]
These days, many institutional lenders are selling non-performing loans to financial and strategic buyers. The concept is usually sound because the selling institution can recover at least the amount at which the loan is carried on its books, often together with out-of-pocket fees and costs. The idea is simple: Get the loan off the books […]
Unless you are a specialized lender who makes loans to debtors-in-possession, you do not make a loan with the expectation that your borrower is going to file bankruptcy. Although the number of bankruptcy filings in California and nationally is trending slightly lower, filings remain at higher than normal levels. Nearly every lender has received the […]
A few years ago, the Special Assets Management Association (SAMA) was born in Southern California. SAMA is a member-driven non-profit organization dedicated exclusively to fostering the best practice in the workout arena through continuing education, mentoring, skill sharing and peer support. I hear from my partners and clients in Southern California that SAMA has been […]
This past quarter end once again reminded us that the economy remains weak and borrowers who have managed to hang on for the past three or four years are running out of staying power. The topic again arose – what to do when a borrower files bankruptcy? Faced with the prospect of throwing good money […]
