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Special Assets

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 […]

Guaranties 101: What is a Continuing Guaranty? What is the difference between a Guaranty of Payment and a Guaranty of Performance? Must a Guaranty have a Limit or Maximum Amount?

Payment of most commercial loans to small businesses is personally guarantied by the owners of the business. While there is no hard and fast rule as to when a commercial loan must be guarantied, most lenders ask for the owners to guaranty payment of credit extended to a corporate or limited liability company (“LLC”) borrower. […]

Meet the Money®, the Premier Hotel Conference: May 3 to 5, 2010

For 20 years now, my partner Jim Butler of JMBM’s Global Hospitality Group®, the premier hospitality practice in a full-service law firm, has been hosting the Meet the Money® Conference for hoteliers and lenders to the hospitality industry. This year’s theme, “Unlocking the Game-changers for the Coming Recovery,” focuses on the hotel industry’s rebound and […]

“Illuminating the Dark Side of the Bank During Challenging Times” – What Workout Professionals Do When A Troubled Credit Is Transferred Into Special Assets

I’m writing this as I head home from this year’s California Bankers Association Lenders Conference at Indian Wells. It was an interesting event, with sessions on topics as diverse as sales and marketing to an economic forecast to my program that covered the progression of a loan from default through workout, forbearance, foreclosure and bankruptcy. […]

Chief Credit Officers at CBA Lenders Conference See Continued Weakness Ahead

I am speaking at this year’s California Bankers Association Lenders Conference in Indian Wells this week, highlighting many of the techniques that workout professionals use when facing a troubled credit. My topic is “Illuminating the Dark Side of the Bank in Challenging Times,” and in the presentation, I follow a hypothetical situation through from the […]