Distressed Commercial Real Estate 2010 – Mortgage Loan Workout Agreements

Schedule and Faculty

Schedule times listed below are for the live seminar. Times for replays may differ due to varied start times and abbreviated lunch and break periods. Please refer to the DATES/LOCATION tab for individual replay start times.

8:30 – 9:00 a.m.

CHECK-IN & CONTINENTAL BREAKFAST

9:00 – 10:00 a.m.

Effective First Steps for Borrowers

  • borrowers basic options if default is inevitable

  • what pre-negotiation strategies work?

  • how do you negotiate with the lender?

  • key timing and strategy decisions

  • due diligence

– Gary C. Eidson & Jim Hajek
– Phillip L. Kunkel, moderator

10:00 – 10:45 a.m.

Loan Default and Acceleration Notices and Forbearance Agreements from the Lender’s Perspective

  • loan default and acceleration notices

  • restructuring alternatives for the parties

  • forbearance agreements

– Daniel C. Beck & Gene Bygd
– Phillip L. Kunkel, moderator

10:45 – 11:00 a.m.

BREAK

11:00 – 11:45 a.m.

Negotiating and Drafting Modification Agreements

  • what are the business and legal issues with respect to a loan modification?

  • what are the title insurance implications of a loan modification?

  • what are the effects of securitization on a loan modification?

  • what are the regulatory aspects of a loan modification?

– Rodney D. Ives, Ryan T. Murphy & John R. Wheaton
– Phillip L. Kunkel, moderator

11:45 – 12:45 p.m.

LUNCH (on your own)

12:45 – 2:00 p.m.

Special Circumstances

  • construction loans

  • guarantees

  • environmental claims

  • multiple lender financing

– Steven J. Heim, Phillip L. Kunkel & Sara Peterson
– Dennis M. Ryan, moderator

2:00 – 3:00 p.m.

Deeds in Lieu of Foreclosure and Deeds in Escrow

  • what are the basic business and legal issues involved in a deed in lieu of foreclosure or a deed in escrow?

  • what are the title insurance issues in a deed in lieu of foreclosure or a deed in escrow?

  • what constitutes adequate consideration for a lender receiving a deed in escrow as part of a loan workout?

  • what factors do courts consider when deciding whether to enforce a deed in escrow?

– Charles D. Hoyum & D. Charles Macdonald
– Dennis M. Ryan, moderator

3:00 – 3:15 p.m.

BREAK

3:15 – 3:45 p.m.

Tax Implications of Mortgage Modifications, Deed in Lieu, and Foreclosure

  • debt discharge income

  • sale and exchange income

  • income tax assessments and collections

  • 1099 form from creditors

– John J. Erhart

3:45 – 4:30 p.m.

Dealing with the Failed Workout

  • legal remedies for the lender and owner

  • receivership considerations

  • foreclosure

  • Section 363 sales

  • credit bids in bankruptcy

  • other options for the lender and owner

– James A. Bartholomew, Michael L. Meyer & Dennis M. Ryan