Restructurings, Workouts & Foreclosures

Resolution of troubled loans not only requires judgment shaped by deep subject matter expertise, but also creative, rapid-fire responses to changing circumstances. Mortgage lenders, loan servicers and borrowers involved in loan modifications, workout or foreclosure transactions regularly turn to Dickinson Wright for assistance with the complex issues surrounding distressed loans and real estate assets.

Experience Across the Industry

The Dickinson Wright team has extensive experience representing borrowers, lenders, and prospective investors in workout, restructuring, deed-in-lieu and foreclosure matters. Our experience spans not only the past several years of economic change, but also work on precedent-setting enforcement matters in the decades prior. We regularly handle complex multi-state transactions, including those involving specialty property types, such as hotels, entertainment and sports facilities, shopping centers, subdivisions, resorts, apartment complexes, condominiums and healthcare properties.

Whether negotiating with or on behalf of a local, regional or national bank or a large commercial mortgage-back securitization (CMBS) investor, we work closely with our lender, borrower and loan servicing clients to determine the best course of action in each instance, and to provide practical solutions that maximize value, including restructuring, repositioning and working out distressed loans and real property assets. We have extensive experience representing and negotiating with loan servicers and special servicers, and we understand the specialized proficiencies that may be required for CMBS, Fannie Mae, Freddie Mac, HUD, tax-credit financing transactions or mezzanine loans.

Based on our experience handling a wide array of real estate transactions and loan-related disputes, clients come to us knowing that we possess the depth of knowledge required to resolve their loan-related bankruptcy and litigation matters efficiently and with the most favorable results.

Broad Range of Services

Our team of dedicated workout, restructuring, and foreclosure lawyers provides the full spectrum of services:

• Modification, restructuring and working out of troubled loans, including negotiations related to forbearance and recourse and non-recourse carveout guaranties
• Judicial and non-judicial foreclosures
• Obtaining receivers and exercising control over rents on behalf of our clients
• Negotiating deeds-in-lieu of foreclosure, forbearance agreements, operations and licenses
• Representing landlords and tenants in the restructuring of leases and the disposition of unexpired leases in bankruptcy proceedings
• Structuring and documenting conventional and unconventional financing arrangements and advising on tax implications of modifying debt repayment obligations
• Advising on due diligence, property and loan management, as well as disposition of distressed real estate