Loan Workouts
Benesch’s award-winning Commercial Finance & Banking and Debt Restructuring lawyers represent national and international financial institutions, commercial banks, other traditional lenders and alternative lenders in managing and resolving troubled loans.
Overview
Our team is exceptionally experienced in working out asset-based, mezzanine and mortgage loans. We advise on, structure, negotiate and close secured loans and credit facilities across all asset classes and handle restructurings, bankruptcies, foreclosures and enforcement actions. The team’s capabilities extend to debtor-in-possession financing, equipment finance, lender liability claims and other disputes.
We leverage our reorganizations, creditors’ rights, recapitalizations and related corporate restructuring experience, utilizing capital reserves and traditional and novel debt structures to preserve and maximize the value of the troubled company’s going concern.
Members of our team advise and represent clients in:
- Loan structuring
- Debt restructuring
- Loan amendments/modifications
- Loan waivers
- Distressed investments
- Asset recovery
- Foreclosures
- Creditors’ rights litigation
- Receivership actions
- Preference and fraudulent conveyance actions
- Bankruptcy litigation
Related Practices
Experience
Represented national financial institution in an $8,000,000 loan restructuring with a hotel operator.
Represented a national financial institution in a $3,500,000 multi-subdivision loan workout with a home builder.
Represented a lender in the forbearance and modification of two distressed bridge loans to two affiliated borrowers to provide additional predevelopment capital, cross-collateralize the two loans and provide additional security to the lender.
Represented the lender in negotiating a forbearance agreement with a borrower on a loan secured by a mortgage on a shopping center. The forbearance agreement addressed cash-flow issues due to tenant vacancies, deferred maintenance, delinquent real estate taxes and failure to fund the required escrows.
Represented borrowers and lenders in deed-in-lieu of foreclosure transactions involving shopping centers and office/warehouse properties.
Represented an investor/developer in purchasing a $14.4 Million loan in foreclosure secured by a mortgage on a 134,000 square foot office building and multi-story parking garage, and then acquiring the properties at the foreclosure sale.
Acquisition of 15-story apartment/mixed-use property by deed-in-lieu of foreclosure of a $32 Million mortgage (represented the lender).
Represented a developer in purchasing a $18.2 Million loan in foreclosure secured by a mortgage on a shopping center development in Florida that was under construction. The transaction included dealing with the borrower’s mezzanine lender, development agreements with an anchor retailer developing its own pad within the shopping center, entitlement, concurrency and permit issues, and millions of dollars in mechanic’s liens. Also represented the developer/purchaser in financing the purchase of the distressed loan.
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