Williams & Associates
Quality Real Estate and Business Law Legal Services For Businesses Nationwide
What’s New Fall 2020

Norma Williams was the Moderator and a Panelist on a commercial real estate program at the Annual Meeting of the American College of Mortgage Attorneys entitled “Loan Defaults and Two Not So Tough Acts to Follow,” highlighting strategies for loan workouts and practice under the Uniform Assignment of Rents Act and the Uniform Commercial Real Estate Receivership Act, September, 2020

What’s New Winter 2020

“2020 Legislative Changes Affecting California Commercial Real Property,” Attorney at Law Magazine (Los Angeles Edition, (Volume 6, No. 1, 2020)

Norma Williams was selected statewide to receive the inaugural Excellence in Practice Award given by the California Lawyer’s Association’s Solo and Small Firms Section; Award Ceremony, June, 2019

Selected Recent Transactions:

Representation of bank in loan modification adding California shopping center owned by new guarantor as additional collateral

Representation of employees credit union in refinance loan secured by Southern California shopping center.

Local counsel in financing transaction for the construction of a Performing Arts Center at a Southern California private high school, using the federal New Markets Tax Credit program

Re-structure of limited partnership interests in partnership owning major transit-oriented multi-family real estate project

Holding company formation and advice on real estate subsidiary structure

Transaction counsel in initial phase of re-structure of limited partnership interests in partnership owning major multi-family real estate project

Recent Publications:

“2019 California Laws Affecting Commercial Real Property,” Attorney at Law Magazine (Los Angeles Edition (Vol. 5, No. 2, 2019)

“Priority Of Liens On California Real Property, Part 2: Subordination Agreements,” Points of Interest Magazine (California Mortgage Association, Spring, 2019)

“Priority Of Liens On California Real Property, Part 1: General Rules of Priority, Deeds of Trust,” Points of Interest Magazine (California Mortgage Association, Fall, 2018)

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

Practice areas