Commercial Loan Workouts and Foreclosures

Overview

The firm’s commercial loan workout and foreclosure practice covers the representation of lenders in both South Carolina and Georgia. Our practice includes all aspects of troubled loans from non-adversarial loan modifications to contested foreclosures, bankruptcy, and litigation. We have experience foreclosing both real and personal property collateral. Our clients include small local banks, to regional banks, to large national lenders.

We also have an aggressive team of lawyers who are experienced in post-judgment collection and have collected significant funds from debtors. Our experience includes cases where debtors have secreted assets and made fraudulent transfers. We are skilled at navigating through the rescission of fraudulent conveyances. The firm also has substantial experience representing lenders in priority disputes with competing creditors and in handling title insurance claims.

When collateral consists of environmentally contaminated property, our workout and foreclosure group collaborates with our environmental law group to assist lenders in navigating the complexities involved in such cases. Our experience includes a broad range of environmentally sensitive collateral from gas stations to manufacturing facilities containing nuclear material.

Importance of Loan Workout and Foreclosure Law

Because of recent law and precedent adopted to address perceived abuses in the foreclosure industry, today’s lender’s sit squarely in the cross-hairs of debtors’ lawyers looking to take advantage of any misstep in the foreclosure process. In order to minimize the risk of lender liability claims and to increase recoveries, lenders should retain careful, competent, and experienced counsel.

Representation and Achievements

Notable achievements by the firm in the area of loan workouts and foreclosures include:

  • Represented a lender in a contested case involving a builder line of credit in the amount of $10,000,000. The representation included foreclosure of collateral in both South Carolina and Georgia.
  • Represented a regional lender in a complex and contested $3,000,000 case involving real estate foreclosure, deficiency judgments, and collections. The representation included assertion of fraudulent conveyance claims and multi-state foreclosure and collection efforts.
  • Represented a large regional lender in a contested $2,000,000 case involving real estate foreclosure and deficiency judgments. The representation included the resolution of priority issues among many competing claimants.
  • Represented lenders in a foreclosure and collection case involving large commercial loans secured by a manufacturing site contaminated with nuclear material. The representation included navigating the complexities of an EPA Super Fund site.
  • Represented a regional lender in a multi-million dollar contested loan workout and foreclosure case involving complex intercreditor issues, gas station collateral, litigation, bankruptcy, and loan sale transactions spanning over ten years.