Follow-On Legal Opinions in Real Estate Loan Modifications: Unique Issues, Special Assumptions, Qualifications, and More
A live 90-minute premium CLE video webinar with interactive Q&A
This CLE webinar will discuss follow-on legal opinions in the context of commercial real estate loan modifications. The panel will define what constitutes a follow-on legal opinion and what content is typically requested in the opinion. The panel will also address the special assumptions, qualifications, and due diligence underlying these opinions and examine how these opinions differ from closing opinions related to the original loan.
Outline
- Overview: current market conditions and the rise in requests for follow-on legal opinions
- Scenarios when follow-on legal opinions are typically requested by lenders
- Common types of follow-on legal opinions relating to loan modifications
- Entity opinions
- Enforceability
- Lien opinions
- Unique issues that arise with follow-on legal opinions
- Guidance for opinion givers and opinion recipients in loan modification and amendment transactions
- Customary practice that is beginning to develop with respect to follow-on legal opinions
- Key takeaways and additional practice pointers
Benefits
The panel will address these and other key considerations:
- What is a follow-on legal opinion and what content is typically requested?
- What assumptions, qualifications, and due diligence are necessary when providing a follow-on opinion?
- What issues arise in the follow-on legal opinion scenario?
- What are key considerations for opinion givers and opinion recipients in follow-on legal opinion scenarios?
- What customary practices are starting to develop with respect to follow-on legal opinions?
Faculty
William B. Dunn
Of Counsel
Clark Hill
Mr. Dunn is involved in a broad spectrum of real estate and commercial transactions for private and public entities.... | Read More
Mr. Dunn is involved in a broad spectrum of real estate and commercial transactions for private and public entities. His work has included infrastructure development; office and commercial acquisitions, development, and leasing; commercial real estate finance on behalf of lenders and borrowers; foreclosures and workouts; industrial project finance and land development; land use and development; and advising clients in all aspects of real estate matters. He is a recognized authority in the area of legal opinions in business transactions and has served as chair of committees for the American College of Real Estate Lawyers and the ABA Section of Real Property, Trust and Estates Law on that subject. Mr. Dunn’s written work has been published widely and he is a frequent lecturer at national, regional, and statewide programs on various aspects of secured financing.
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R. Marshall Grodner
Member
McGlinchey Stafford
Mr. Grodner's practice focuses primarily on commercial transactions, secured transactions, commercial finance,... | Read More
Mr. Grodner's practice focuses primarily on commercial transactions, secured transactions, commercial finance, opinion letters, commercial real estate and gaming law. He has an extensive practice representing lenders in large commercial transactions, locally, regionally and nationally. He authored or co-authored articles dealing with secured transactions, commercial real estate and other business law issues, and also presented on issues concerning loan documentation, secured transactions, ethics and professionalism in the transactional context and real estate law.
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Steven O. Weise
Partner
Proskauer Rose
Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those... | Read More
Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those secured by personal property, including structured financing. He is regarded as one of the foremost authorities on Article 9 of the UCC. He is a member of the Permanent Editorial Board for the UCC and a member of the American Law Institute’s UCC Article 9 Drafting Committee. Mr. Weise is also the past chair of the American Bar Association’s Business Law Section Legal Opinions Committee.
CloseEarly Discount (through 11/22/24)