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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Bankruptcy

Date & Time
  • event Date

    Wednesday, February 19, 2020

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00

This CLE course will provide counsel to lenders and creditors with a review of the intersection between bankruptcy and state foreclosure laws with respect to secured interests in personal property and commercial real estate. The panel will outline strategies to minimize risks in exercising foreclosure remedies and navigating bankruptcy.

Faculty

Mercado M. Reed
Shareholder
Buchalter

Mr. Mercado is a member of the firm’s Commercial Finance Practice Group. He represents a wide range of traditional and non-traditional lenders, as well as borrowers, in complex financing transactions. Mr. Mercado has structured, negotiated and documented a wide variety of financing arrangements, including working capital financing, real estate secured financing, debtor-in-possession financing and bridge financing. These arrangements often include multi-facility secured credit arrangements. Mr. Mercado also has extensive experience negotiating and documenting of intercreditor agreements. Additionally, he has significant experience with problem loan workouts and restructurings, as well as bankruptcy, foreclosures and enforcement of other creditor’s rights.

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Cohen Theodore
Shareholder
Sheppard Mullin Richter & Hampton LLP

Mr. Cohen specializes in creditors' rights and focuses on lender, indenture trustee, and lessor representation in bankruptcies, loan and lease workouts, defaulted bond financings and secured transactions. He also represents buyers of distressed companies in bankruptcy 363 sales and from assignees for the benefit of creditors.

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Schlichting Nancy
Shareholder
Flora Pettit, PC

Most recently, Ms. Schlichting’s practice has been focused on corporate disputes including shareholder disputes, business dissolutions, and commercial litigation. She also represents lenders in collection cases, foreclosures, lender liability and bankruptcy proceedings and individuals and corporations in real estate related litigation. Ms. Schlichting’s previous experience includes trust litigation, will contests and litigation relating to health care in the areas of risk management, guardianships, licensure, physician credentialing and peer review.

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Description

Secured lenders are increasingly resorting to enforcing foreclosure remedies under UCC Article 9 and state real property foreclosure laws. However, when the borrower files for bankruptcy, state foreclosure laws often collide with bankruptcy laws.

As lenders exercise foreclosure remedies before bankruptcy, they must understand the potential pitfalls that they will face if the borrower files for bankruptcy. There are steps lenders can take to minimize the impact that bankruptcy will have on their secured interest.

Once a lender is in a bankruptcy proceeding, the lender's abilities to avail itself of state law foreclosure remedies are altered. The lender then must navigate the bankruptcy rules to preserve its foreclosure remedies.

Listen as our authoritative panel of bankruptcy attorneys discusses the tension between bankruptcy and state foreclosure laws and provides strategies to minimize bankruptcy risks in exercising foreclosure remedies.

Outline

  1. Strategies for navigating bankruptcy of distressed borrowers
    • Relief from the automatic stay
    • Cash collateral
    • Post-relief from stay
    • Asset sales and credit bidding
  2. Impact of bankruptcy on UCC rights and collateral
    • Fraudulent transfer
    • Preference actions
    • Lender liability
  3. Impact of bankruptcy on distressed real estate
    • Asset sales
    • Dirt for debt
    • Deeds-in-lieu of foreclosure
    • Single-asset real estate
    • Bad boy guarantees

Benefits

The panel will review these and other vital questions:

  • What must the lender consider in conducting a UCC foreclosure sale to minimize a subsequent challenge in the debtor's bankruptcy?
  • What factors must a lender show to obtain relief from the bankruptcy automatic stay?
  • What is the effect of a foreclosure sale or deed in lieu transaction in a subsequent bankruptcy proceeding?
  • What bankruptcy rules apply to single-asset real estate?