COMMERCIAL & PUBLIC FINANCE | LITIGATION & DISPUTESWorkouts & Restructuring
Loan Workout, Bankruptcy, & Creditors Rights
PSH’s multi-disciplinary Loan Workout, Bankruptcy, & Creditors Rights team consists of litigators and transactional attorneys who are adept in guiding clients through all phases of a troubled loan relationship. Our clients are privately and publicly owned, local, regional, and national financial institutions, private equity firms, and other organizational and individual lenders. PSH has developed relationships with many area professionals, such as auctioneers, appraisers, accountants, and other attorneys, who are often necessary to successfully resolve troubled loans for its clients.
PSH’s transactional attorneys are often on the “front lines” of a troubled loan relationship.
Loan Workouts:
- Assessment of potential deficiencies in loan or collateral documents
- Ways to enhance collectability of loans
- Sale of loans or loan portfolios
- Out-of-court restructuring
- Forbearance options
Matters Affecting Loan Collateral:
- Collateral liquidation – real estate foreclosure and personal property sales
- Priority disputes and competing liens
- Tax or condominium lien issues
Bankruptcy & Creditors Rights
When a troubled loan relationship requires court intervention, PSH’s commercial litigators – who routinely appear in all courts in Rhode Island and Massachusetts – can provide the right combination of aggressive advocacy and efficient strategy.
Bankruptcy, Receivership, Insolvency Proceedings:
- State court receiverships
- Chapter 7 Bankruptcy (liquidation)
- Chapter 11 Bankruptcy (reorganization)
- Stay Relief Motions
- Cash Collateral Issues / Debtor-in-possession Financing
- Plans of Reorganization
- Leasing issues
- Claim litigation
- Assignments for the Benefit of Creditors
Asset Recovery:
- Suits for unsecured / deficiency judgments
- Prejudgment remedies – attachment of bank accounts, equipment, or other assets
- Investigation into borrower / guarantor assets
Defense of Lender Liability Claims:
- Usury claims
- Massachusetts chapter 93A and other consumer protection claims
- Claims under federal lending statutes including Fair Credit Reporting Act, Fair Debt Collection Practices Act, Truth-in-Lending Act, Real Estate Settlement Procedures Act
- Other contract-based lender liability claims
