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Loan Workouts and Restructuring

We know you need prompt representation when loan workouts and restructurings are required. Our attorneys have significant experience working with lenders on finding practical solutions. Our client-focused representation includes experience ranging from drafting loan waivers and loan modifications to, if needed, asset recovery litigation. While our practice is centered on lenders, our experience allows us to also provide much needed advice and representation to non-lender clients.

Each solution takes the unique set of circumstances under consideration and our attorneys apply a practical legal and business perspective. Our goal is to advocate in the best interests of our clients and creatively and strategically complete the matters we are retained to handle. We are mindful of clients’ budget constraints and aim to efficiently staff matters.

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Representative Matters

  • Restructuring of a $14 million mortgage loan portfolio secured by multiple properties in Texas.
  • Modification and extension of a $13 million mezzanine loan secured by a pledge of ownership interests in an office building in New Jersey.
  • Modification and extension of a $14.75 million mortgage loan secured by a multifamily apartment building in South Carolina.
  • Representation of a lender with loan extension documents and reaffirmations of guarantees in connection with the extension of the maturity date and change of interest rate on a $7 million loan.
  • Representation of a lender with a credit loan extension and amended loan documents, side letter and reimbursement agreements in connection with letters of credit as well as a forbearance letter in connection with a multi-property secured credit line, which was increased and extended in order to correct a problem with reimbursement of issued letters of credit.
  • Representation of a lender in a forbearance agreement, which amended the interest rate and repayment date of the loan. The lender and borrower reached a settlement agreement after we started a foreclosure action.
  • Sale of a distressed $10 million loan in the process of foreclosure, with collateral subject to investigation by governmental authorities, to an investor in distressed loans who was willing to take over the foreclosure.
  • Representation of a mezzanine lender in the successful U.C.C. Article 9 foreclosure sale of limited liability company membership interests in connection with real property located in Brooklyn, New York.
  • Representation of a publicly traded New Jersey-based bank in a commercial mortgage foreclosure lawsuit involving a $12 million loan secured by property in Queens, New York.
  • Securing summary judgment in a commercial foreclosure action on behalf of a syndicate of lenders in connection with a $72 million loan and then selling the mortgaged property (an office tower in Newark, New Jersey) via a receiver sale.
  • Mezzanine loan foreclosure on a $2.5 million mezzanine loan secured by a pledge of ownership interests in a multifamily apartment building in Brooklyn, New York, and the simultaneous modification of the $26 million mortgage loan securing said property with the senior loan lender.

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