Description

Many seasoned real estate analysts are predicting a deep recession in commercial estate with widespread defaults and sharply increased bankruptcy claims.  But the nature of the current downtown in real estate is different than in earlier periods – it is driven by an almost complete absence of credit at every level.  This program will provide you with a practical guide to analyzing the nature of a commercial real estate default, devising a strategy for workout negotiations in a dramatically changed lending environment, and practical tips on drafting workout agreements and other documentation. The program will also discuss whether effective bankruptcy strategies are available to any but a limited universe of real estate cases. 

• Analyzing the nature of the default
• Changing nature of workout negotiations with lenders
• Workout agreements and other documentation
• Limited bankruptcy options for real estate investments

About the Speakers . . .

Thomas F. Kaufman is a partner in the Washington, D.C. office of Hunton & Williams, LLP, where his practice focuses on all aspects of real estate finance, joint ventures, real estate investment trusts, corporate structuring, capital markets, mezzanine and subordinated loans, loan workouts and commercial real estate transactions.  He is chairman of the Capital Markets and Real Estate Finance Committee of the American College of Real Estate Lawyers.  Mr. Kaufman also service as an Adjunct Professor of Law at Georgetown University Law Center.  Before entering private practice he served as a judicial clerk to Chief Judge Harry Phillips of the U.S. Court of Appeals for the Sixth Circuit.  Mr. Kaufman received his B.S. from the State University of New York (SUNY, Buffalo), his M.B.A. form the University of Pennsylvania, The Wharton School, and his J.D. from Georgetown University Law Center.

Richard R. Goldberg was a partner and is now Senior Counsel in the Philadelphia office of Ballard, Spahr, Andrews & Ingersoll, LLP, where his practice concentrates on areas of real estate, including development, financing, leasing, and acquisition.  Prior to joining Ballard Spahr in 1994, Mr. Goldberg served as Vice President and Associate General Counsel of The Rouse Company for 23 years.  He is past President of the American College of Real Estate Lawyers, Past Chair of the Anglo-American Real Property Institute, Past Chair of the International Council of Shopping Centers Law Conference, and a Fellow of the American College of Mortgage Attorneys. He also is a member of the American Law Institute and has advised the Restatement of Property (Mortgages).  He has written and lectured extensively on real estate issues, including articles on the economics of commercial leasing for lawyers, commercial financing including credit enhancement, and participating financing.  Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B. from the University of Maryland.