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Commercial mortgage loan defaults are expected to reach unprecedented levels this year and next. With lenders still gripping tightly to their funds and unwilling to lend to businesses, refinancing is increasingly difficult to achieve. In this new course, our expert panelists examine the current state of affairs and offer practical insights into how to help your clients through these difficult times. What workout options do your clients really have? How can they be positioned to minimize the impact of these defaults on their businesses? What leverage do your clients have? Creative solutions in dealing with these problems are discussed.
Outline of topics:
Parties: Behind the Curtain
Lender and Debt Participants: Co-lenders or Participants
Borrower and Equity Participants
Guarantors and Co-guarantors
CMBS and Special Servicer/REMIC Issues
IRS - Your Silent Partner
Borrower and Lender Playing in the Out-of-Court Sandbox
Pre-Workout Ground Rules
Perfection of Rents/Lockbox
Loan Purchase - Assignment or Payoff
Litigation and The End Game
Confession, Receiver, Foreclosure: Claims and Defenses