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.
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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:
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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.
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.
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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