Most businesses of any meaningful size in the United States have a line of credit or term loan with a bank or other lender that is supported by a lien on substantially all of the assets of that business. And a secured lender’s agreement with its borrower commonly provides the lender with very strong legal remedies in the event the borrower defaults on the loan (whether the default is a “payment default” or a “covenant default”).
What can a secured lender do upon a borrower’s default? What will a lender actually do upon a borrower’s default? What factors can and should a secured lender consider when deciding what action to take? What can and should a borrower do in this situation? This webinar discusses the industry norms and practices that secured lenders and advisors to distressed companies tend to follow when dealing with a defaulting borrower. It paints a picture of the path a “workout” may follow, discusses the leverage points that both the secured lender and the borrower may have, and explains the various possible outcomes.
Jonathan Friedland is a senior partner in Sugar Felsenthal Grais & Helsinger LLP’s Chicago office. He is ranked AV® Preeminent™ by Martindale.com, has been repeatedly recognized as a “SuperLawyer”, by Leading… Read More
Andrew Currie is a partner in the Venable's Bankruptcy and Creditors’ Rights Group, which was named among the top five bankruptcy groups in the nation by Bankruptcy Law360 in 2010. … Read More
Rick Rosenbloom is the founding and Managing Partner of Fuel Break Partners (http://www.fuelbreakcapital.com/), a Connecticut-based special situations investment and advisory firm. Rick has over 20 years of distressed investment, restructuring, M&A and… Read More
Todd is a results-driven business executive specializing in developing and implementing financial and operational restructurings for distressed companies. He specializes in turning around underperforming companies by providing interim management services… Read More