Philadelphia partner Andrew Flame authored an article on completing a successful workout for The Bankruptcy Strategist, which also appeared in a sister publication, The Equipment Leasing Newsletter. The article notes that although recent years have seen difficult economic times, signs point to more difficulties ahead – specifically for commercial real estate loans. Businesses of all sizes may soon find themselves having difficult discussions with their lenders regarding loans in default or which will be maturing and for which the real estate and other collateral provide questionable value as security. Andrew, a partner in the Corporate Restructuring Practice Group, sets out 10 commandments for businesses to achieve a successful loan workout should the worst-case scenario occur.
Click on the PDF links above to read the full publication.