Like many of you, we are seeing a significant increase in commercial real estate (“CRE”) loan workouts. The magnitude of the swell in distressed CRE loans remains unclear, although one thing is certain: appreciating the...more
8/2/2023
/ Article III ,
CMBS ,
Commercial Loans ,
Commercial Mortgages ,
Consumer Financial Products ,
Default ,
Discovery ,
Evidence ,
Financial Services Industry ,
Foreclosure ,
NY Supreme Court ,
Promissory Notes ,
Standing ,
Summary Judgment ,
Wells Fargo
Like many of you, we are seeing a significant increase in commercial real estate (“CRE”) loan workouts. The magnitude of the swell in distressed CRE loans remains unclear, although one thing is certain: appreciating the...more
This alert provides information for borrowers with loans from Silicon Valley Bank (“SVB”) or Signature Bank (“Signature”) based on information available from the FDIC and our clients’ experiences over the last few days. We...more
3/14/2023
/ Borrowers ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Insolvency ,
Loans ,
Receivership ,
Silicon Valley
On Friday, March 10th, at the request of the California Department of Financial Protection & Innovation, the FDIC was appointed as receiver of Silicon Valley Bank (SVB). To protect insured depositors, the FDIC created the...more
Landlords are receiving a deluge of requests to provide rent relief to commercial tenants whose operations have either been closed or substantially restricted as a result of state and local governments’ COVID-19 stay-at-home...more
APPROACHES TO RESTRUCTURING -
The art of restructuring requires a feel for the right approach fitted to the situation of each distressed borrower. Here are some of the approaches a borrower might take in negotiations...more
Mid-market Companies. The out-of-court approach is becoming especially popular among mid-market companies that have finite and manageable numbers of creditors, as well as limited resources for paying the significant...more
CARES Act (Coronavirus Aid, Relief, and Economic Security Act) -
Below is a summary of certain provisions of HR 748, the bill approved by the Senate on March 25, 2020. Please note that the legislation still requires...more
3/26/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Individual Retirement Account (IRA) ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Required Minimum Distributions ,
Small Business ,
Tax Relief