1:00 p.m. E.T. (60 minutes)
This program will provide you with a roadmap to the practical process of negotiating and drafting the restructuring of a failing real estate project. The program will discuss the economics of restructuring alternatives, determining which alternatives are most viable depending on the nature of the borrower/seller and lenders, and approaching lenders about a workout. The program will also provide a detailed discussion of specific restructuring alternatives and the tradeoffs of each, including straight buyouts, rescue capital/preferred securities, “loan to own” strategies, and more. The program will take a practical approach to how an attorney can help clients devise the best solution for rescuing a distressed real estate deal, and negotiate and document the workout.
• Negotiating, structuring and drafting the restructuring of failed real estate projects
• Underlying economics and tradeoffs of real estate restructuring
• Restructuring alternatives, including straight purchases, “Loan to Own,” rescue capital/preferred
• Navigating seller issues – personal guaranties, ongoing management fees, upside participation,
• Drafting forbearance and loan modification agreements
• Receivership of distressed properties and planning to emerge from receivership
• Buying failed real estate projects out of bankruptcy
Manuel A. Fernandez is partner in the Miami office of Akerman, LLP, where he has an extensive real estate practice representing commercial mortgage lenders, developers, and institutional and non-institutional investors in connection with the acquisition, development, financing, leasing and management of commercial and residential real estate assets and distressed real estate transactions. He also represents hedge funds, pension funds, and other real estate opportunity funds in connection with joint ventures. Mr. Fernandez received his B.A., cum laude, from the University of Miami and his J.D., magna cum laude, from the University of Miami School of Law.
William L. Norton is a partner in the Nashville office of Bradley Arant Boult Cummings, LLP, where he focuses his practice in the business bankruptcy area, dealing in all aspects of bankruptcy cases, creditor rights and insolvency. He is the Managing Editor of Norton Bankruptcy Law and Practice 2d (Thomson West), a premier 12 volume treatise and is the co-author of Norton Creditors' Rights Handbook (Thomson West). He is a Fellow of American College of Bankruptcy and is adjunct professor at Vanderbilt Law School. He formerly served as president of the American Board of Certification, which certifies attorneys who specialize in the areas of creditor rights and bankruptcy law and is a leader in the Business Bankruptcy Committee of the ABA’s Business Section. Mr. Norton received his B.A. from Vanderbilt University and his J.D. from Vanderbilt University Law School.