LOS ANGELES - (Business Wire) Greenberg Glusker today announced that it has formed a real estate restructuring and loan workout group to address current economic circumstances specific to the real estate industry. The Group, comprised of attorneys from the Firm
’s Real Estate, Land Use, Tax, Bankruptcy and Litigation Groups, works with owners, investors, developers, lenders, landlords and tenants to identify, assess and address issues and opportunities that arise in connection with the acquisition, disposition, restructuring, repositioning and workout of distressed real estate assets.
"Our current market presents both investment opportunities and restructuring challenges,” said Dennis B. Ellman who chairs the Restructuring & Loan Workout Group. “We have formed this Group to advise clients of practical and creative alternatives for addressing their unique situations.”
Greenberg Glusker’s Restructuring & Loan Workout Group has experience with respect to the following issues, among others:
- Representation of buyers, debtors-in-possession and trustees in the acquisition and disposition of real estate properties--including office, retail, multifamily, resort/second home developments, telecommunications facilities, golf courses and debt instruments.
- Representation of landlords and tenants in the repositioning and adaptive re-use of high-vacancy properties, the restructuring of leases, and the disposition of leases in bankruptcy proceedings.
- Representation of financial institutions and others in the acquisition and restructuring of troubled loans, discounted notes and related collateral.
- Structuring and documenting of unconventional financing, including gap equity, loan assumptions, purchase money financings and private capital sources.
- Purchase and disposition of REO properties.
- Representation of investors, borrowers, lenders, landlords and tenants in bankruptcy and state court disputes, including foreclosures, receiverships, unlawful detainer actions, and relief from stay proceedings.
- Resolving disputes among joint owners of property, including shareholders, partners, joint venturers, LLC members, and joint tenants through negotiation or litigation.
- Representation of developers, property owners and lenders concerning the preservation and extension of entitlements and other tactical land use considerations.
- Tax planning associated with declining asset values, including the sale of assets with debt in excess of basis and the restructuring of estate planning strategies.
- Enforcement of creditor’s rights, including realization upon collateral, collection on guarantees, defense against fraudulent transfers and preference causes of action and other bankruptcy related claims.
- Restructuring and renegotiation of credit obligations of borrowers, the prosecution of lender liability and other state law claims and the use of federal bankruptcy law protections to implement the reorganization of over-leveraged enterprises.
“We have been through down-market periods before, and we are uniquely positioned to advise clients as to current market opportunities and risks,” continued Ellman.
A significant presence in Southern California’s real estate industry for almost 50 years, Greenberg Glusker enjoys a long-standing reputation as one of the premier real estate law firms in Los Angeles with both transactional and litigation experience. Our lawyers are more than skilled technicians, they are deal makers and advisors. We seek to understand our clients’ business objectives and help to achieve those objectives in an efficient, cost-effective manner. We focus on what is important and maintain that focus until the transaction closes.
About Greenberg Glusker
Recently recognized by Chambers USA, Legal 500, and Best Lawyers In America, Greenberg Glusker helps clients to maximize their potential by providing strategic business and legal counsel in matters involving entertainment, real estate, land use, environmental, intellectual property, technology, business, employment, estate planning, taxation and litigation. For more information, visit GreenbergGlusker.com.
Greenberg Glusker
Jonathan Fitzgarrald, 310-785-6864
JFitzgarrald@greenbergglusker.com
