Commercial Restructuring and Workouts

The firm’s Commercial Restructuring and Workouts Practice Group consists of attorneys that have experience in a variety of disciplines and who have worked with and in the financial industry for decades. These attorneys are members of our various interdisciplinary practice groups, including: the Banking Group, the Creditors Rights Group, the Environmental Group, the Real Estate Group and the Litigation Department. Our firm, with over sixty attorneys, has had significant experience representing institutions regarding the disposition of troubled loans and/or the underlying assets. At our size, we have sufficient resources and depth to provide the needed, interdisciplinary approach to any particular matter. While providing efficient levels of staff to a transaction, our firm provides quality representation and personal contact with the lawyers handling a matter.

Attorneys in the firm have had significant experience through several real estate/economic cycles, including the early 1990’s. We have served in an in-house, legal capacity for the Federal Deposit Insurance Corporation and have also represented the Resolution Trust Corporation in the handling of distressed loans and liquidating the assets of financial institutions. Our experience recognizes the complexities of valuing assets, whether as a result of litigation or bankruptcy. As a result of our efforts, our clients have been able to achieve positive results in restructuring or workouts. Some of our attorneys have served as in-house counsel at major banks and financial institutions, and many have extensive experience serving as outside counsel. We believe that our experiences bring added value to the client at the current time, since our attorneys have both practical and legal knowledge as to how a restructuring or other ancillary matter may unfold. We also have unique experience in the matters involving the New Jersey Economic Development Authority and the U.S. Small Business Administration to distinguish this firm from other law firms.

Attorneys in the Commercial Restructurings and Workouts Practice Group can properly represent clients concerning review of complex documentation and can advise regarding potential rights and remedies. Our attorneys have the experience necessary to negotiate forbearance agreements, loan restructuring agreements, inter-creditor agreements, deeds in lieu, additions or reaffirmation of guarantees and restructuring transactions to obtain the best result in a difficult situation. Our experience allows us to assess a matter and offer an evaluation of a particular scenario including: claims against carriers or other insurance providers or professionals, set-off rights, significant debts owed to other creditors, additional guarantors, as well as an evaluation of defenses including lender liability claims.

Years of practical experience allow us to provide a client with guidance as to the appropriate disposition of assets and collateral. We understand how to negotiate the sale or purchase of distressed assets, whether such assets are subject to complex legal circumstances or otherwise. We have the resources to be responsive, yet maintaining efficiency, in preparing all necessary documentation to effectuate the transaction. We can also represent clients in connection with their dealings with financial institutions and have assisted them in acquiring a particular interest of a financial institution in a distressed loan. We have also been able to structure workout solutions with obligors or other creditors by negotiation or through formal litigation.