Commercial Real Estate Foreclosure Program
The value of commercial real estate is expected to bottom in 2009 and lead to a wave of foreclosed properties on the market. In a commercial foreclosure, do you know how to protect your financial interests? Do you understand California’s foreclosure process? The answers to these questions and more were covered in a thorough, in-depth discussion sponsored by Wendel, Rosen, Black & Dean LLP.
- Session One:
We focused on California's judicial and non-judicial foreclosure schemes, a review of the processes and the significant debtor protection and planning aspects inherent in foreclosure law. The presentation also addressed the different aspects and judicial interpretations of California's antideficiency statutes.
- Session Two:
The discussion turned to the legal issues surrounding loan debt and guarantees, with a focus primarily on the treatment, exposure and liability of guarantors under California law. Prepayment, late charges and other issues bearing on the underlying debt were part of the session. Finally, arguments concerning creditors' attempts to coerce borrowers and guarantors to perform, as well as arguments to rebut those attempts, rounded out the discussion.