Shifting Tactics and Strategies for Lenders in Workouts

March 3, 2010
Herrick, Feinstein LLP

2 Park Avenue

New York, NY

Recent events have changed the commercial loan workout environment, so we prepared this new program for those active in the distressed credit arena. Our distinguished panel of financial experts and Herrick attorneys shared their "hands on" experience on how these events have affected the tactics and strategies lenders should be thinking about moving forward. The program included an interactive Q&A session. Traditional and non-traditional lenders, loan servicers, acquirers of distressed debt, financial advisors and turnaround consultants were encouraged to join us.

Topics discussed:
Pre-negotiation agreements
Non-monetary defaults
Economic duress and lessons to lenders about conduct during workout negotiations
Update on Destiny case
Receivers can't sell, so what can they do in new construction condo foreclosures?
Upstream guarantees, savings clauses, and other lessons of the TOUSA decision

Sheon Karol, Partner, CRG Partners
Robert Kuhn, Managing Director, JPMorgan Chase
Fred Meagher, Senior Vice President, Capital One Bank
Scott Tross, Partner, Herrick, Feinstein LLP