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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, […]
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 […]
A good workout professional also knows how to help the Bank make loans that are properly structured. Many of the “sad” stories we have recently experienced were the result of a huge decrease in property values, but several arose out of mistakes made in underwriting and structuring loans. Well-run institutions are taking care to be […]
Assignments for the benefit of creditors are a terrific tool to facilitate the liquidation of assets of a failing enterprise. In this article, my partner, Ben Young, explains why a recent opinion from the California Fourth District Court of Appeal missed the point and why ABCs remain a powerful tool available to get the bank […]
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 […]
