JMBM's Special Assets Team welcomes Juan Galvan and Kevin Chen, two talented young attorneys, to our San Francisco office. Juan and Kevin will represent major institutional lenders and creditors in negotiating, documenting, and restructuring commercial and real estate loans and in enforcement actions in federal and state court and in bankruptcy court.
Continue reading "Special Assets Team welcomes two new associates" »
In 2005, the California Supreme Court overruled the practice of including waivers of the right to a trial by jury in commercial agreements and loan documents before a lawsuit has been filed. For many years, sophisticated commercial businesses and institutional lenders included a clause in their agreements providing that the parties waive the right to a jury trial. A jury trial waiver authorizes a judge to try the case without a jury, resulting in a speedier, less costly trial and avoiding the possibility of jury prejudice against banks and institutional lenders.
Continue reading "Special Assets Law--What is Judicial Reference?" »
The JMBM Special Assets Team is looking for a 2-3 year junior litigation associate for our commercial creditors rights practice based in San Francisco's Financial District. The successful candidate will have excellent law school credentials, some courtroom and deposition experience and be capable of preparing pleadings and motions. Bankruptcy experience is desirable but not required. Salary is commensurate with experience.
I'm asking our readers to help us find the right young lawyer to fill this spot. We have found that it works out well to hire lawyers who come recommended by our clients and friends. This is a great opportunity for a lawyer in the first few years of his or her practice who is interested in financial and credit matters. Our new lawyer will have a chance to work on some of the most interesting and challenging matters around with experienced practitioners who know the ropes.
JMBM is an AmLaw Top 200 firm with offices located in San Francisco, Los Angeles and Orange County. The JMBM Special Assets Team is composed of lawyers in all three offices who specialize in representing commercial and real estate lenders in bankruptcy, litigation, receivership, foreclosure, workouts, documentation and negotiation.
Most loans today are secured by real or personal property collateral, so the homestead exemption is of less importance to institutional lenders than it used to be. However, if you do find yourself administering an unsecured loan, or if you discover that the loan you thought was well secured turns out to be unintentionally unsecured, then it is good to know about the California homestead exemption.
Continue reading "California Increases Homestead Exemptions" »
The final segment of Stan Gibson's series on Litigation Readiness and Electronic Discovery addresses the practical problem of assembling and collecting all of the data needed for use in the lawsuit. Stan's point is that advance preparation, a luxury in today's fast-paced, cost conscious world, pays dividends when a lender is faced with short time deadlines to respond to massive requests to produce documents and electronic records.
Continue reading "On Bank Litigation--E-discovery (Part 4): Establishing a Data Assembly Process" »
Stan Gibson returns to the Special Assets Lawyer Blog with the third segment of his important series on Litigation Readiness and Electronic Discovery. In his last segment, Stan Gibson explained why it is so crucial to quickly locate and preserve the bank's records by implementing a Litigation Hold. This time, Stan explains what a Data Map is and why you will need one to successfully navigate the waters of electronically stored information.
Stan Gibson's timely series on Litigation Readiness and Electronic Discovery continues with an explanation of the vital "Litigation Hold" process, what it is and how it is implemented. Stan is co-chair of JMBM's E-Discovery Group, and at my request, is sharing his wealth of knowledge with our readers in a four-segment series. Members of the JMBM Special Assets Team assist clients in implementing a litigation hold and in making certain that all available information, whether stored on paper or electronically, or known only to witnesses, is collected and preserved.
Our second installment builds on Stan's opening segment, "Record Retention and Compliance," which is a must read for anyone administering litigation in connection with a troubled loan.
Continue reading "On Bank Litigation--E-discovery (Part 2): The Litigation Hold Process" »
E-discovery, or electronic discovery, has come to California's court system. Given our litigious society, there is a good chance that your bank or financial institution will soon be responding to requests for e-discovery. Litigation is never the process of choice, but as all workout professionals know, there are times when the only way to collect the loan is to file suit.
Continue reading "On Bank Litigation--E-discovery (Part 1): Record Retention and Compliance" »
Thousands of motor vehicles dealerships will fail before the restructuring of the auto industry is over. Clients of the JMBM Special Assets Team are facing significant potential losses on loans to dealerships and property owners as these once-thriving local businesses fall on hard times, fail and close. As in every crisis, a calm, guiding hand is required to minimize loss, maximize value and perhaps, to find an opportunity to build for the future. The JMBM Special Assets Team provides experienced counsel to lenders holding troubled loans to motor vehicle dealerships and to draw on JMBM's broad expertise representing motor vehicle manufacturers, secured lenders and real estate investors to help find and preserve value.
The JMBM Special Assets Team represents clients' financial interests that are put at risk by failing vehicle, farm implement and marine dealerships. JMBM does not represent consumers, motor vehicle dealers or franchisees; instead, we provide expert guidance for:
• Manufacturers who must address the problems created by failing dealerships
• Secured lenders who must take prompt action to preserve their collateral or defend lender liability claims and class actions
• Investors who have leased sales and service facilities to dealers.
With great fanfare, the California Legislature passed a bill in 2008 that amends the State's Elder Abuse Law. Neither the legislators nor Governor Schwarzenegger must have paid much attention to this legislative travesty, given the ongoing budget crisis, because this bill is a real doozy. No one wants to see financial abuse of the elderly, certainly not the mainstream responsible banking community. The California banking community has long taken appropriate steps to spot and guard against the financial abuse of seniors and other disadvantaged persons. Most institutions have procedures in place to verify the source of questionable transfers, and most provide training to their employees to help combat financial abuse. Nevertheless, thanks to the new Elder Abuse Law, our bank clients are now being hit with nasty lawsuits accusing them of the financial abuse of elders when nothing of the sort has taken place.
Continue reading "Bank Litigation: California's New Elder Abuse Law is being Abused" »
Welcome to SpecialAssetsLawyer.com, a place where problem loans and troubled debts are the topic of discussion. I am Dick Rogan, bank lawyer and chair of the JMBM Special Assets Team. Every day, problem loans of all types cross my desk and the desks of my colleagues here at JMBM. That's because we ask for them. Our clients are banks, special servicers, private lenders and others dealing with the fallout from the "Great Lending Bubble." Our clients challenge us to help them find value where all appears to have been lost. They rely on our collective years of experience to develop the right approach for each loan. Let's face it, our task is to work with our clients to make the most out of a bad situation.
Over the years, we've been asked by young people just joining a lender's workout team and by experienced lenders who have crossed over to the "dark side" of the bank to explain the tricks of the trade in dealing with special assets. In response, we created SpecialAssetsLawyer.com - a collection of some of our accumulated wisdom and a place for bank workout professionals to come find out what works when attempting to collect and deal with problem loans.
Dick Rogan is a bank lawyer and Chair of JMBM's Special Assets Team—a group of experienced professionals who help bank workout professionals to find out what works when collecting and dealing with problem loans. He dedicates his time to financial transactions, real estate, bankruptcy, insolvency, banking, corporate governance and commercial law and is a seasoned professional in representing banks, special servicers, and private lenders. For more information, contact Dick at (415) 398-8080 or RRogan@JMBM.com.
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Walter W. Gouldsbury III is a lawyer in the Firm's Bankruptcy and Creditors' Rights Groups as well as a member of the Special Assets Team—a group of experienced professionals who help bank workout professionals to find out what works when collecting and dealing with problem loans. He has represented banks, special servicers, and private lenders in dealing with distressed assets and real estate. For more information, please contact Walter at (415) 398-8080 or WGouldsbury@JMBM.com.
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Barry Freeman specializes in bank and asset-based lending, creditor rights and Article 9 of the UCC, and is a member of the Firm's Corporate and Bankruptcy Reorganization Group and JMBM's Special Assets Team. Barry's practice focuses on all aspects of secured and unsecured lending, banking, asset-based and unsecured lending, syndicated and participated credits, representing both agents, participants and line banks; workouts and restructurings; creditors rights; business bankruptcies; corporate reorganization; real estate; agricultural lending; and litigation counseling involving lender liability issues. For more information, please contact Barry at (310) 785-5367 or BFreeman@JMBM.com.
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David Poitras is a lawyer in the bankruptcy, reorganization, creditors' rights, and special assets teams at JMBM. For over 21 years, Mr. Poitras has specialized in representing companies and individuals in all areas of bankruptcy, receiverships, assignments for the benefit of creditors and out-of-court financial restructurings, throughout the United States. He has represented numerous financial institutions, private equity lenders, investment banks, public and private corporations, municipalities, limited liability companies, partnerships, and individuals across a wide expanse of industries. For more information, please contact David at (310) 201-3571 or DPoitras@JMBM.com.
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Stan Gibson is an experienced trial lawyer in the Discovery Technology Group, IP professional malpractice, intellectual property, litigation, and special assets teams at JMBM. He focuses on high-stakes cases including complicated technology cases and bet-the-company cases. With an aptitude for technology and patents, Stan has handled complex cases involving technology in the fields of computerized telescopes, automotive design, Internet search engines, exercise equipment and medical devices, among others. For more information, please contact Stan at 310-201-3548 or SGibson@JMBM.com.
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Joe Demko is a partner and member of the JMBM Special Assets Team. Joe is an experienced trial lawyer who specializes in representing banks, lenders and financial institutions in complex commercial litigation involving creditors’ rights, lender liability, claims of fraud and real property secured transactions. Joe's recent trials and arbitrations have involved loan enforcement and fraudulent transfer claims as well as lender defense against claims for fraud, successor liability, breach of fiduciary duties, elder abuse and imposition of constructive and/or resulting trust on real property. In addition, Joe has extensive experience in representing lenders and special servicers in real property secured transactions and in cases involving California Commercial Code Articles 4, 9 and 10. For more information, please contact Joe at (415) 984-9676 or JDemko@JMBM.com.
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Bob Kaplan is a creditors’ rights lawyer, member of the Special Assets Team, and co-managing partner of JMBM’s San Francisco office. His practice of more than 32 years focuses primarily on creditors' rights and bankruptcy related matters. Bob has extensive experience representing special servicers appointed under securitized real estate loan transactions in judicial foreclosure and receivership actions, in post-default loan modifications/forbearance agreements, and in numerous single and multiple asset Chapter 11 bankruptcy cases. Additionally, Bob has defended special servicers in lender liability cases, including breach of contract and fraud claims, in State court, Federal court and bankruptcy court. For more information, contact Bob at (415)398-8080 or at RKaplan@JMBM.com.
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