Loan Workout

We have provided representation to banks and other financial institutions and commercial borrowers and guarantors in numerous pre and post-default commercial real estate loan workout matters undertaken with the goal of resolving defaults, restructuring the debt and/or, where necessary, advising parties with respect to any subsequent non-judicial foreclosure. We have also worked on workouts of asset based (personal property-secured) loans. These matters are undertaken pursuant to the agreement of the parties and do not involve bankruptcy proceedings although bankruptcy may be anticipated.

Our work in this area generally starts with an analysis of the client's loan file, both to determine that the loan was properly originated and serviced and to anticipate any possible claims and defenses. We then work with the client to determine the type of relief most appropriate to the situation. Documentation and structures on which we have worked include: pre-workout agreements, loan modifications, loan workouts, forbearance agreements, deeds in lieu of foreclosure, representation for and against loan guarantors, advice on non-judicial foreclosure and post-foreclosure strategy, receivership appointment and sale of real estate owned.

Loan Workout Transactions: Clients and Transactions

· Major national bank - restructure of two loans (construction loan and line of credit for tenant improvements) secured by office buildings.

· Non-profit (publicly affiliated) Lender - workouts and enforcement action with regard to real estate and asset based loans

· Federal agency - receivership appointment and non-judicial foreclosure of airport ground lessee's interest in property involving 55 hangar subleases

· Major national bank: loan modification transactions and in documentation of deed in lieu of foreclosure transactions

· Federal agency - workout of largest loan in the portfolio of an institution ($80 million dollar participated loan secured by mixed use commercial and residential project

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Williams & Associates
633 West Fifth Street
26th Floor
Los Angeles, CA 90071

Phone: 213-631-9201
Fax: 213-947-1799
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