Thursday, July 9, 2020, Beth Jo Zeitzer, Owner and Designated Broker of R.O.I. Properties, and Cathy Reece, of Fennemore Craig presented Real Estate Bankruptcies and Work-Outs: Practical Strategies for the Post-COVID Era to the American Law Institute (ALI). This program examined the real estate market, pre and post-COVID-19 and discussed current market trends and how they will influence bankruptcy and work-out strategy.
Topics of discussion included:
- Commercial real estate re-imagined: COVID-19 is the great accelerator
- Foreclosure moratoria and their impact on commercial real estate: The long pause…
- Loan default/delinquency by asset class: Hospitality/lodging, retail, m/f, office, and industrial
- Creditor’s rights provisions and documents: Special/single purpose entities, non-recourse loans and carve out guarantees, intercreditor agreements, and pre-workout or pre-negotiation letters
- Addressing insufficient cash flow
- Alternatives and remedies: Deeds in lieu of foreclosure, assignment for the benefit of creditors, receivership, sale of property or auction, sale of note and lien, partition, and other state remedies
- Bankruptcy process and outcomes
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