Special Assets Lawyer Blog

We sold out the room for Receivership 101 last month, which my friend, Bruce Cornelius and I, had the honor of presenting for the Bay Area Chapter of the California Receivers Forum. Bruce and I serve on the Board of Directors for the Chapter.

Receivership 101 is a one-hour (if we talk fast) program that covers the basics of receiverships. It is a survey of the subject and after being refined for many years, it has become a good resource to learn about the basics of receiverships. You can find a slightly condensed version of the program materials right here on SpecialAssetsLawyer.com by clicking on the Receiverships tab.

The Forum is continuing its educational programs this month with an exciting program called "Receivership 201 - Receivership Issues for 2010 and Beyond". This program, to be presented by my fellow board members, Susan Uecker and Dennis Miller, will cover a handful of topics that are currently hot in the world of receiverships, such as condo conversions, note sales, housing developments and the important question as to whether a lender can get a better recovery by having the receiver sell the asset than by foreclosing.

I've attached a copy of the flyer and I urge everyone to attend, even though I won't be able to make it myself. I'm already set to celebrate an achievement by my corporate partner, Victor Shum: his tenth anniversary with JMBM! Victor is a savvy mergers and acquisitions lawyer who has many terrific accomplishments to his credit. I often rely on Victor to guide us through the ever-thickening maze of business organizations. He has a knack for the kind of practical thinking that solves knotty problems. We here at JMBM make a point of celebrating the longevity of our lawyers and our staff, and I am looking forward to taking time to thank Victor for all he brings to our Firm.

Continue reading "California Receivers Forum Program Set for March 18 in San Francisco; Victor Shum Celebrates 10th Anniversary With JMBM" »

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" »

As promised, here are the Rules of the Court governing receivership:

Continue reading "2010 Receivership Rules of the Court" »

Many people have asked for an easy place to locate statutes and Rules of the Court that govern Receivership. I have republished the California Codes Code of Civil Procedure Sections 564-570 here and will republish the Rules of the Court on Monday:

Continue reading "Receivership Statutes and Rules of the Court" »

One of our most-viewed pages on SpecialAssetsLawyer.com is the Receivership 101 slideshow presentation. I've given this program several times, often with my long-time close friend and colleague, Bruce Cornelius. Bruce and I serve together on the Board of Directors of the Bay Area Chapter of the California Receivers Forum, and given the sharp rise in the number of receiverships, the Forum has once again decided to present Receivership 101 live and in person.

This is a great program for those workout professionals who know how to use receivers and would like to stay current, as well as for those who are new to workouts and would like to learn the basics. Bruce and I have lots of amusing anecdotes and practical tips to share along the way.

Bruce and I will be giving the program on February 10, 2010, and all of you are cordially invited to join us.

To download a copy of the registration form below, click here.

Continue reading "Dick Rogan to Present Receivership 101 for California Receivers Forum" »

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.

Continue reading "Special Assets Law: How do lenders, manufacturers and investors preserve value, minimize loss and repurpose shuttered motor vehicle dealerships?" »

About 10 years ago, one of our veteran workout professional clients realized that many bankers on his staff did not know what a receiver does, why a bank might want to have a receiver appointed and how a receivership works. He asked me to come to their offices and explain the concept of receiverships. I put together this Receivership 101 presentation for that seminar, and since then, I have presented this seminar many times in private in-house seminars we do for our clients, for the California Receivers Forum and for other professional associations.

Continue reading "Receivership 101--What you need to know now!" »

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.

Continue reading "Special Assets Lawyer.com: A Place Where Problem Loans and Troubled Debts Are The Topic of Discussion" »