Scott L. Baena is a senior partner with Bilzin Sumberg Baena Price & Axelrod LLP in Miami and chairman of the firm's restructuring and bankruptcy group. His practice focuses on creditor's rights, workouts, bankruptcy and...more
Maryland Governor Martin O'Malley has signed a law that brings significant changes to how recordation tax will be imposed on the refinancing of commercial property and on the modification of existing indemnity deeds of trust...more
Most commercial real estate loan documents give meaning to the phrase “real estate is old as dirt.” Why? Because just as dirt doesn’t change, commercial mortgage loan documents largely ignore the impact of technology on the...more
California, like most jurisdictions, prohibits parties to integrated contracts from introducing “parol evidence” — this is, evidence of prior written or verbal agreements made by a party to a contract — if those alleged...more
As funding slowly returns for hotel properties, lenders should be more cautious when underwriting hotels as collateral for loans. Unlike other types of commercial real estate properties such as retail, office or multifamily...more
Lending is obviously important to land planning and commercial real estate development and Florida has been particularly hard hit in its financial industry, so the news this week from the Mortgage Bankers' Association...more
Funding is returning slowly for hotel properties, as many lenders have learned the hard way that hotels can be tricky collateral. Commercial mortgage brokers can expect these lenders to be more cautious when reviewing hotel...more
Introduction - The recent case of Cortefiel SA, a leading Spanish high street clothing retailer (“Cortefiel”), has demonstrated the possibility of amending and extending a company’s obligations under its finance...more
Last year the Superior Court of Forsyth County, North Carolina awarded approximately $2.1 million in damages against a large lender for its decision to offset debt against a deposit account of a guarantor. The trial court...more
Credit availability seems to be improving in the commercial markets. One common (and obvious) test for new commercial lending is “how will the borrower fare in the tough times, or a stress test?” Generally, loans to...more
“ESOP” loans can be both an “exit” strategy for a company in distress (and its lenders), and an “entrance” opportunity for lenders targeting the right prospect. Lending to an ESOP company can hit the mark coming (good times)...more
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