CREDITORS’ RIGHTS. Lloyd Persun and Matt Hamlin share this work. It entails loan workout and documentation, principally for banks. The firm does no debtor work.
Workout encompasses restructuring and forbearance arrangements for troubled loans, in an effort to avoid the delay and expense of bankruptcy. It also involves state law remedies such as mortgage foreclosure, Article 9 sales, receiverships, confessions of judgment and reclamation proceedings, for example and, if necessary, bankruptcy proceedings. We have performed this work for lenders in state and federal courts throughout the Commonwealth for more than 40 years. The borrowers in these cases involve businesses of all types with multistate, regional and local presence.
Our loan documentation services include assistance with commitment letter preparation, if requested, preparation and negotiation of loan documents and the conduct of closing. We perform this work in a cost efficient manner, recognizing that the borrower is the lender’s customer.