Los Angeles Real Estate Litigation Lawyer Jeffer Mangels Butler & Mitchell LLP Home
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 […]
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, […]
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 […]
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 […]
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 […]
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.” […]
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 […]
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 […]
