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Ten Commandments for a Successful Loan Workout
While we obviously have had our fill of difficult economic news during the past few years, all signs point to more challenges ahead. Specifically, there are indications that commercial real estate loans are on increasingly shaky ground. A new study from Real Capital Analytics shows that in the first quarter of 2010 the default rate for commercial mortgages held by banks hit its highest level in 18 years ' and is expected to keep rising for at least another year. See www.reuters.com/article/idUSN2426910920100524?type=marketsNews.
Before long, businesses of all sizes will find themselves having difficult discussions with their lenders regarding loans in default or which will be maturing and for which the real estate and other collateral provide questionable value as security. While businesses obviously need to work diligently to avoid these circumstances, they also need to prepare for the worst. With that in mind, here are 10 Commandments for a Successful Loan Workout:
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.