![]() ![]() ![]() Identification of Full Recourse Trigger Leads to Full Payoff.Despite fights over competing plans of reorganization, the team was able to work with the trustee to facilitate a 363 sale that resulted in a fantastic recovery for the noteholder and special servicer. With the efficient and aggressive work of the Dykema team, the noteholder was successful in having a Chapter 11 trustee appointed for the borrower. On the eve of entry of an order appointing a receiver over large properties in a major metropolitan market, the borrower filed for bankruptcy protection. Bankruptcy Doesn’t Stop the Dykema Team from Making the Noteholder Whole.Despite significant opposition and attempts to take broad-ranging written and oral discovery, the team was able to bulldoze the opposition and get to judgment of foreclosure and sale in 9 months, confirming the sales shortly thereafter and recovering from the sponsor. The team quickly identified a full recourse trigger and filed suit in each jurisdiction. ![]() The Dykema team was brought in to handle three separate CMBS credits tied to three large commercial properties in three different counties all tied to a single CMBS sponsor. Delivering Results in the Face of Serious Opposition.Our institutional knowledge, deep understanding of CMBS loan structures, and courtroom experience contribute to achieving the best possible result for the noteholder and special servicer, whether pre-litigation, during the course of litigation, post-judgment, or in bankruptcy court. We take a custom-tailored approach to each loan, working diligently to resolve issues quickly. Our clients count on us to expedite what can be an exasperatingly slow resolution process. We work aggressively, and we work efficiently. Whether you need to file a commercial foreclosure case and seek the appointment of a receiver, navigate a complex investigation and pursuit of guarantors for partial recourse or full springing recourse liability, or aggressively litigate fraudulent transfer actions, our team can help you find the right approach. Our team of attorneys has significant experience across the country pursuing remedies to maximize your recovery in state and federal court, in bankruptcy, and outside of court. ![]()
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