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Special Assets

Bankruptcy Can a Plan of Reorganization Separately Classify a Claim That Is Personally Guaranteed?

Recently, we’ve been seeing debtors try to confirm cram down plans of reorganization that are unfavorable to the secured creditor by “gerrymandering” the class of unsecured claims. The typical situation finds the secured creditor holding an undersecured loan. Under Section 506(a) of the Bankruptcy Code, the secured creditor’s claim is automatically bifurcated into a secured […]

JMBM Welcomes Insolvency Lawyer, Bennett G. Young

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, […]

Don’t Create A Liability When You Sell A Loan

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 […]

Bankruptcy For Creditors with Clients Filing Chapter 11- Commercial Finance Roundtable: A Creditor’s Plan – A Way Out of the Morass of a Single Asset Real Estate Bankruptcy Case

Many lenders are not very familiar with creditors’ plans, which can be a useful tool to break through a logjam in a Chapter 11 bankruptcy case. JMBM Special Assets Team members and expert creditors’ rights attorneys, Bob Kaplan and Nick De Lancie, are veterans at crafting and confirming creditor’s plans in tough cases. Bob and […]

Jeffer Mangels Butler & Marmaro LLP changes its name to Jeffer Mangels Butler & Mitchell LLP: Name partner Marc Marmaro appointed to Superior Court Judge and Tax Lawyer Burton Mitchell becomes name partner.

After 28 years of service to the Firm, founding partner Marc Marmaro will be sworn in as a Judge in Los Angeles County Superior Court on August 5, 2010. By law, Marc’s name must be removed from the Firm’s title, which will occur on the same day. Congratulations, Marc on an exceptional honor. In recognition […]

Workout Panel- “Tools of the Trade: Techniques for Handling Troubled Companies Outside of Bankruptcy”

21st century bankruptcy laws don’t always fit the bill. Often, there are better, more efficient and less costly means of reorganizing operating companies and restructuring or enforcing debt obligations. On Thursday, August 12, I will be moderating an panel of experienced workout professionals in a program entitled, “Techniques for Handling Troubled Companies Outside of Bankruptcy.” […]

Special Assets Workout: The Psychology of a Workout

There is so much more to a workout than just drafting legal documents. My partner, Barry Freeman, recently published an outstanding article about the psychology of a workout in the esteemed Daily Journal. He describes the importance of understanding a borrower’s perspective, who is likely to be in denial and frustrated about the problems his […]

2010 Receivership Rules of the Court

As promised, here are the Rules of the Court governing receivership: Rule 3.1175. Ex parte application for appointment of receiver (a) Application In addition to any other matters supporting an application for the ex parte appointment of a receiver, the applicant must show in detail by verified complaint or declaration: (1) The nature of the […]