On-Demand Video
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Work it Out: Dealing with Defaulted Commercial Mortgage Loans 2023 (2023 Real Estate Institute session)


  • City:
  • Start Date:2023-11-30 19:00:00
  • End Date:2024-11-30 19:00:00
  • Length:
  • Level:Advanced
  • Topics:Real Property

$79.00 ["ProPass"]

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Overview

This one-hour seminar will discuss the considerations, from Lender and Borrower perspectives, in dealing with defaulted commercial real estate loans.  The discussion will cover forbearances, workouts and restructurings, including strategies to mitigate potential legal risks of lender liability, the use of pre-negotiation agreements, the importance of setting and managing expectations, and the need for effective communication. The discussion will include descriptions and analysis of the various forms that successful workouts typically take, including forbearance, debt service deferral, waiver or modification of covenants, conditions and requirements under the loan documents, new or additional loan term extensions, and discounted payoffs.  The seminar will also present an overview of what borrowers should expect during the workout process, including discussions of the likely process and timing, various other parties that may be involved, and the importance of planning and preparation for both balance sheet loans and CMBS loans.

Recorded at the Real Estate Institute in November 2023.

Faculty

Nitya Goyal Esq.

Ms. Kumar Goyal is a partner in Dechert LLP’s Global Finance practice and is based in the firm’s Philadelphia office. She focuses her practice in the area of commercial real estate finance. She represents banks, private equity investors and other institutional lenders in mortgage and mezzanine loan origination secured by a wide variety of commercial real estate properties, including office and multifamily buildings, hotels, and retail and industrial properties. Prior to joining Dechert, Ms. Kumar Goyal worked as an associate in the real estate practice group of another international law firm where she represented private equity funds in commercial real estate acquisitions, dispositions, and mortgage and mezzanine financings. Ms. Kumar Goyal received her J.D. from The George Washington University Law School and her B.SFS from Georgetown University, Edmund A. Walsh School of Foreign Service.

Steven Kalnoki Esq.

Mr. Kalnoki is a counsel at the global law firm Dechert LLP, in the firm’s finance and real estate group. He regularly represents lenders, loan servicers and borrowers, in the origination and servicing of large mortgage and mezzanine loans, financing a wide variety of commercial real estate assets. He also has extensive experience with workouts and restructurings of under-performing and non-performing loans. Mr. Kalnoki earned his B.A. from the University of California, San Diego and his J.D. from Harvard Law School.


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