More About This Practice

Our Approach

Balch understand that no creditor wants to hold a defaulted obligation and that those who do want to maximize recovery as quickly as possible. Our team works with creditor clients to first understand what rights and remedies are available (and which ones are not), second to develop a strategy to achieve the client’s goals, and third to implement that plan efficiently and effectively.

Regardless of the nature of the underlying obligation, our first step is to develop an intimate knowledge of the governing documents. When our review discovers gaps in the documents, we develop a plan to either fill the gaps or work around them. 

We then work with the client to develop a plan to achieve their goals and implement that plan. The plan may be to restructure the obligation or forbear from enforcing rights in order to give the obligor additional time to satisfy its obligations. In other situations, a cooperative borrower may be willing to turn over the collateral (e.g., through a deed in lieu of foreclosure) and agree to repayment terms on the deficiency. In other situations, an amicable resolution may not be achievable resulting in foreclosure or repossession. 

Because every situation is unique, we understand that no one remedy works in every situation.  With a depth of knowledge of our clients’ industries, we are able to work with our client to look for business solutions, legal remedies, or a combination of both.

 

Our Clients

We represent lenders, note holders, factoring companies, and other creditors holding an obligation either in default or at risk of going into default. 

 

Our Experience

Loan Workouts: The term “workout” is broad and can encompass creative solutions to what may otherwise appear to be a doomed outcome so long as all of the parties are reasonable and willing to work in good faith.

Real Property Foreclosures: Our attorneys represent mortgage holders foreclosing various types of real estate in both judicial and non-judicial foreclosures. This often includes working with our clients prior to foreclosure to see that the property is held in a special purpose entity post-foreclosure when the client has the winning bid at the foreclosure sale. Our representation does not stop once the foreclosure sale ends though. We also represent clients with post-foreclosure issues including forcibly obtaining possession of the property as well as marketing and selling the property.

UCC Article 9 Sales: We represent creditors enforcing their rights in personal property including construction and manufacturing equipment, vehicles, boats, inventory, intellectual property, and corporate securities. 

 
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