Back to the Future: Non-Performing Construction and Development Loan Workouts
This is not necessarily about now. This is about a day in the future. One in which we experience the next significant economic downturn. The one that starts with some big, unexpected, pivotal ‘Black-Swan’ event that precipitates an economic crisis (like the 2008 failure of Lehman Brothers, Bear Stearns, et al). In good times, it’s […]
A Receiver’s Challenge: Evaluating Stalled,Distressed Construction Projects
Most lenders and many investors do not want to complete a distressed construction project without the insulation from liability afforded by a court-appointed receiver completing the project prior to sale. That is because the owner/builder is exposed to potentially significant long- term liability for construction defects, particularly on condominiums, apartments mapped for sale as condominiums, […]