Schenck, Price, Smith & King’s Commercial Restructuring and Workouts practice group consists of attorneys with backgrounds in a variety of disciplines, who have worked with and in the financial industry for decades. Some of our attorneys have served as in-house counsel at major banks and financial institutions; all have vast experience serving as outside counsel. In addition, our lawyers have experience working with governmental agencies, including in-house legal positions with the Federal Deposit Insurance Corporation (FDIC). Our clients include regional, national and international banks and other lenders.
Our collective wide-ranging knowledge allows us to assess a matter and offer an evaluation of a particular situation, including evaluating lien positions, reviewing potential environmental issues, analyzing loan documents and the respective rights of parties, inter-creditor arrangements, 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.
Schenck Price has significant experience representing institutions regarding the disposition of troubled loans and/or the underlying assets. We have represented commercial lending institutions in various problem loan transactions for real estate, asset-based and commercial and industrial credit facilities. Representation has included suits on notes, foreclosure proceedings, and bankruptcy proceedings.
Our attorneys have represented commercial lending institutions in restructuring their debt and workout situations in all types of transactions. Transactions have involved consolidation of and/or restructure of debt secured by corporate assets, mortgages and various personal and corporate guarantees. Our representations have involved foreclosure sales, sales of assets, and sale of assets conducted under the auspices of the United States Bankruptcy Court.
With a unique and significant background in matters involving the New Jersey Economic Development Authority (NJEDA) and the United States Small Business Administration (SBA), we bring both practical and legal knowledge as to how a restructuring or other ancillary matters may unfold.
Schenck Price has been involved in numerous transactions and closings, particularly SBA 7(a) and 504 closings. In addition, we have prepared numerous repurchase packages for lenders seeking quarterly payments on defaulted SBA 7(a) loans.
The Group adopts a team approach to each transaction. We work with our colleagues in the Corporate, Commercial Litigation, Real Estate, Environmental & Energy, and Tax Planning practices to offer appropriate counsel. We understand the need to be cost-sensitive in our representation.
Commercial Restructuring and Workouts