While I do not know the number, it seems there are countless preforming commercial mortgages that are put into default for technical reasons and maturities due. Lenders will put a perfectly paying mortgage in default in the second without hesitation. Owners need to beware of this and don't expect the lender to have any commonsense....
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Category Archives: Bankruptcy
Accounts Receivables Financing Secured for IT Company in chapter 11 Bankruptcy
We were asked to secure accounts receivable financing, Debtor in Possession, DIP Financing for an IT company in Chapter 11 Bankruptcy. There existing bank would no longer extend them any credit. Having a great deal of experience in assisting companies in the same position we quickly jumped on it and secured the financing. We love...
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Number One Rule in Workout, Turnaround or Bankruptcy
The number one rule in a workout, turnaround or Bankruptcy is to stay very involved and have a “never give up” mindset. If your team, professionals and opposition see or sense that you do not have faith, energy or have abandoned the ship, then you're done.
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How One Business Bounced Back from Bankruptcy
After purchasing casual dining chain Fatburger in 2003, CEO Andy Wiederhorn fought for years to turn around the company's performance. But, faced with an ineffective management team and the recession, he finally resorted to Chapter 11 bankruptcy filings for two of the restaurant’s west coast subsidiaries in 2009.
Since...
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Great Property Foreclosed On: How You Can Avoid This Fate
I just read an interesting article about the Executive Airport Business Center that was sold through a mortgage foreclosure. It was bought for more than the former mortgage price and at the time it was foreclosed on, it was 91% leased.
If the original owner had reached out to us and used our services, the original...
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Chapter 11 Filing: 5 Things to Do As an Attorney
Chapter 11 Filing as an attorney can be daunting if you've never done it before.
Take a look at our great tips to help any attorney file a successful chapter 11 bankruptcy.
5. Before...
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5. Before...
Issues to Consider in CMBS Loans Modifications
Commercial mortgage-backed securities (CMBS loans) are bonds designed to finance investments on commercial loan portfolios, and sold to investors worldwide. The income from such property is passed on from the property owner to the bond holder. The high income yielding CMBS market went through a severe downturn in 2008, followed by a gradual period of...
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Chapter 11 Business Bankruptcy Plan – Getting it Approved in Game of Thrones style
Chapter 11 Business Bankruptcy - Getting the Plan Approved
The first thing that one needs to do in order to get chapter 11 business bankruptcy plan approved is to watch HBO's hit series Game of Thrones from beginning to end. Sounds crazy? It may be, but one of the story lines that Game of Thrones...