Financial institutions require representation in out-of-court matters such as loan modifications, workouts, forbearance agreements, pre-packaged bankruptcies and a broad range of other commercial lending and collection matters. Our clients include banks, trustees, lessors, special servicers for securitized mortgage pools, life insurance companies, private lenders and a wide variety of other entities. We can work with unique non-performing loans and recalcitrant borrowers -- our goal is to resolve bad loans as quickly and efficiently as possible.
The Creditor Rights Team has extensive experience in all types of industries that borrow money, enforcing claims for principal, interest, default interest, late fees, pre-payment fees, SWAPS and attorneys fees.
We litigate in all levels of state and federal courts. Our defensive work for financial institution clients encompasses litigating lender liability actions, including letter of commitment cases, all types of matters under the Uniform Commercial Code and the wide variety of claims raised by borrowers in an attempt to delay collection.
We begin with an analysis of our client's rights and objectives, and determine the best way to meet these goals cost-effectively, whether that involve negotiation or eventual litigation. As part of these efforts, the Group's workout attorneys apply a systematic approach to analyzing a borrower's strengths, weaknesses and relationship to other creditors to assure maximum return based on the overall financial picture.
The Team has broad experience representing all types of creditor interests. This includes loan sales, whether a single loan or part of a portfolio. The firm's office was the primary amicus in two noteworthy decisions by the New Jersey Supreme Court. In MetLife Capital, a unanimous New Jersey Supreme Court reversed a unanimous decision of the Appellate Division, upholding the viability of default interest and late charges in the lending context. In Sasco, a unanimous New Jersey Supreme Court again reversed a unanimous Appellate Division decision, upholding the rights of lenders to pursue borrowers and guarantors who commit fraudulent transfers. Our attorneys are frequently asked to assist with broad policy matters that go beyond the resolution of a single loan.