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Commercial Loan Recovery

Commercial Loan Recovery

From the moment of default through the date the obligation is resolved, the Commercial Loan Recovery group at Shechtman Halperin Savage works to provide strategic advantage and representation to our lending clients in creditor-debtor matters. For lenders and lessors in non-performing commercial loans and lease financing arrangements, the SHS inter-disciplinary approach utilizes the collective talents of our transactional, litigation, and insolvency attorneys to meet the challenges of default situations. With this approach, we can allow maximum creativity and recovery during each loan workout.

Our team includes attorneys and paralegals with years of experience representing lenders and lessors regarding:

Loan Restructuring or Modification: Often it is in all parties’ best interests to continue a loan, but on terms altered to allow a defaulting borrower to continue operating its business. At SHS, we can help set terms which are fair and profitable for all.

Forbearance Agreements: In appropriate cases, SHS can negotiate and structure a forbearance agreement with terms that maximize value to the lender.

Secured Party Sales and Foreclosures: For loans secured by company collateral, SHS has the experience to conduct a secured party or foreclosure sale to maximize collateral recovery.

Receivership and Bankruptcy proceedings: We work in conjunction with our Receivership Practice Group and our Bankruptcy and Insolvency Practice Group in both federal bankruptcy proceedings and state and federal court receivership cases to pursue all of the creditor’s rights and remedies and maximize recovery in distressed situations.

Litigation: Together with our Business and Civil Litigation Group, we are able to undertake all available litigation options against borrowers and guarantors. In appropriate cases, for example, SHS will seek pre-judgment attachments to prevent dissipation of assets and ensure collectability of judgments.

Judgments and Collections: SHS works to obtain judgments for creditors and then continues working to collect them through various post-judgment remedies. These remedies may include: seizures of real property, boats and other personal property; garnishments of bank accounts, investment accounts and other assets; and levies and other judicial proceedings in aid of execution.

Loan Sales: When desirable, SHS will facilitate the sale of loans to a third party, ensuring that all regulations are followed during the transfer.

Interest Rate Swap Agreements: SHS is familiar with the unique issues presented by interest rate swap agreements, and the opportunities and difficulties they can pose in recovery efforts, particularly with regard to multi-facility relationships.