Commercial Loan Recovery
Bank Workouts and Commercial Loan Defaults
A troubled commercial loan is a serious matter for the bank, mortgage company, or lender involved. From the point of view of the lending institution, the loan is an asset, and when a borrower is unable to make agreed upon payments, that asset is in danger. We strive to obtain repayment for our clients in an efficient and cost-effective manner through negotiation and workout.
When loans fall out of compliance, they become special assets, and a series of possible actions come into play, ranging from a forbearance agreement, out-of-court restructuring and workout, to liquidation.
At Grenen & Birsic, we provide the expertise needed to navigate the nuances of bank workouts and commercial loan defaults.
In the area of commercial loan recovery, our attorneys assist with:
- Notices of Default and Reservation of Rights Letters
- Negotiation of Voluntary Surrender and Liquidation Agreements
- Negotiation of Forbearance Agreements
- Waivers and Amendments to Loan Agreements
- Legal Documentation of Commercial Loan Restructure