We guide local, regional, national, and international financial institutions – lenders, commercial banks, community banks, trusts, private equity funds, hedge funds, insurance companies, and others – through a broad range of lending activities, from commercial real estate (CRE) and commercial and industrial (C&I) loans to asset-based and mezzanine lending, and everything in-between. We help them reorganize troubled loans through negotiated workouts, modifications, and when necessary, litigation. In recent years, we have restructured more than $3 billion of debt for lenders across the country. Also, we have structured, negotiated, and successfully closed a recent $300 million revolving credit facility on behalf of a five-member bank group consortium. The loan covered a borrower's national platform.
We have particular strengths protecting the interests of secured creditors in bankruptcy proceedings – regularly working with court-appointed receivers to recover assets and investments – and commercial foreclosures. We have led hundreds of mortgage foreclosures, including against office buildings, shopping centers, and apartment buildings.
For example, we recently completed a foreclosure on a complex set of cross-collateralized and cross-defaulted loans secured by a group of mixed use properties in the southwest suburbs of Chicago. We aggressively appointed a receiver within weeks of the filing of the complaint and successfully leased the vacant commercial units then, having cut off the rental income from the borrowers, obtained summary judgment on the borrowers’ lender liability claims, took back all of the properties for our client, and settled a $12+ million deficiency judgment.
In addition, we regularly handle Other Real Estate Owned (OREO) dispositions for lenders, including single-asset and portfolio sales, where we quickly and efficiently resolve outstanding loan issues to maximize the value of assets held by our clients.