Media Coverage 07.17.23
Source: Law 360
Our real estate insolvency and reorganization experience is vast. We represent owners that reorganize and rehabilitate real estate assets through bankruptcy, as well as secured lenders looking to maximize their recoveries in loan workouts and in bankruptcy proceedings by developing effective exit strategies, pressing adequate protection and “lift-stay” requests, and avoiding unfavorable “cramdowns.” We confirm debtor-sponsored plans, creditor-sponsored plans and jointly-sponsored plans. We represent sellers and buyers of real estate in “section 363” sales, including leasehold interests. We represent landlords seeking to obtain full payment of “post-petition” and “pre-petition” rent (including via cure, setoff of deposits and by counseling on claims, including those subject to statutory caps); avoid being sued for preferential transfers; and avoid other undue and harmful consequences (e.g., undesirable lease assignments). In the construction context, we guide owners and prime contractors through insolvencies, receiverships and the bankruptcies of their subcontractors, and have substantial experience defending subcontractor claims. We regularly advise clients on the risks associated with purchasing distressed mortgage and subordinate/mezzanine debt, and represent them when their borrowers land in bankruptcy.
We also have one of the most knowledgeable practices in the areas of substantive consolidation, “true sale,” and equitable subordination, having both opined on and litigated these issues. Members of our section are regularly sought out to join other leading experts and bankruptcy judges in presenting on current and cutting-edge real estate insolvency and restructuring topics.