Intersection of Bankruptcy and State Foreclosure Laws
Protecting Foreclosure Remedies and Overcoming Bankruptcy Pitfalls When Dealing With Distressed Borrowers
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide counsel to lenders and creditors with a review of the intersection between bankruptcy and state foreclosure laws with respect to secured interests in personal property and commercial real estate. The panel will outline strategies to minimize risks in exercising foreclosure remedies and navigating bankruptcy.
Outline
- Strategies for navigating bankruptcy of distressed borrowers
- Relief from the automatic stay
- Cash collateral
- Post-relief from stay
- Asset sales and credit bidding
- Impact of bankruptcy on UCC rights and collateral
- Fraudulent transfer
- Preference actions
- Lender liability
- Impact of bankruptcy on distressed real estate
- Asset sales
- Dirt for debt
- Deeds-in-lieu of foreclosure
- Single-asset real estate
- Bad boy guarantees
Benefits
The panel will review these and other vital questions:
- What must the lender consider in conducting a UCC foreclosure sale to minimize a subsequent challenge in the debtor's bankruptcy?
- What factors must a lender show to obtain relief from the bankruptcy automatic stay?
- What is the effect of a foreclosure sale or deed in lieu transaction in a subsequent bankruptcy proceeding?
- What bankruptcy rules apply to single-asset real estate?
Faculty
Theodore A. Cohen
Special Counsel
Sheppard Mullin
Mr. Cohen specializes in creditors' rights and focuses on lender, indenture trustee, and lessor representation... | Read More
Mr. Cohen specializes in creditors' rights and focuses on lender, indenture trustee, and lessor representation in bankruptcies, loan and lease workouts, defaulted bond financings and secured transactions. He also represents buyers of distressed companies in bankruptcy 363 sales and from assignees for the benefit of creditors.
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M. Reed Mercado
Senior Counsel
Buchalter
Mr. Mercado is a member of the firm’s Commercial Finance Practice Group. He represents a wide range of... | Read More
Mr. Mercado is a member of the firm’s Commercial Finance Practice Group. He represents a wide range of traditional and non-traditional lenders, as well as borrowers, in complex financing transactions. Mr. Mercado has structured, negotiated and documented a wide variety of financing arrangements, including working capital financing, real estate secured financing, debtor-in-possession financing and bridge financing. These arrangements often include multi-facility secured credit arrangements. Mr. Mercado also has extensive experience negotiating and documenting of intercreditor agreements. Additionally, he has significant experience with problem loan workouts and restructurings, as well as bankruptcy, foreclosures and enforcement of other creditor’s rights.
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Nancy R. Schlichting
Attorney
Flora Pettit
Most recently, Ms. Schlichting’s practice has been focused on corporate disputes including shareholder disputes,... | Read More
Most recently, Ms. Schlichting’s practice has been focused on corporate disputes including shareholder disputes, business dissolutions, and commercial litigation. She also represents lenders in collection cases, foreclosures, lender liability and bankruptcy proceedings and individuals and corporations in real estate related litigation. Ms. Schlichting’s previous experience includes trust litigation, will contests and litigation relating to health care in the areas of risk management, guardianships, licensure, physician credentialing and peer review.
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