Matters
- Successfully represented special servicer of a $45.4 million loan utilizing receivership proceedings to manage, operate, and ultimately sell a residential apartment complex with more than 1,300 units as an alternative to foreclosure, which resulted in full payoff to lender.
- Successfully utilized receivership proceedings on behalf of loan servicer to manage and operate a $20 million office building owned by more than 30 tenants in common (“TIC”) owners pending foreclosure. On the eve of foreclosure, 15 of the TIC owners filed bankruptcy, and we successfully argued to keep the receiver in place allowing for monthly cash flow distributions to the lender pending a negotiated third party sale, which resulted in a full payoff to lender.
- Successfully represented special servicer of a $90 million loan in negotiating and closing a deed in lieu of foreclosure transaction related to a retail shopping center.
- Successfully represented distressed debt purchaser with enforcement of loans to a radio station secured by its radio broadcast license and related assets, utilizing the threat of receivership proceedings to obtain a favorable settlement that resulted in full recovery of the sums due.
- Successfully completed a receivership and the foreclosure of the largest office building by square footage in the St. Louis region.
- Successfully defended lender against significant claims brought by guarantors for violation of the ECOA (Reg B) and for misrepresentation and breach of good faith and fair dealing for failing to disclose information concerning the borrower’s financial condition.
- Successfully defended secured lender, assignee of a failed bank under the FDIC, against claims by borrower that certain notes and deeds of trust were not properly assigned to lender, that there was no consideration for the assignment, and that the assignee failed to pay book value for the asset.
- Aggressively utilized the Illinois Credit Agreements Act to defeat various lender liability actions and class actions brought by borrowers.
- Represented a national manufacturing tenant in successfully delaying an unlawful detainer trial for more than 12 months, giving the tenant time to relocate on its own terms.
- Successfully argued against and defeated judgment debtors’ personal exemption claims under state and federal law and subsequently orchestrated one of the largest executions and liquidations of the debtors’ personal property in St. Louis County.
