Representative Work

Representative Work: Recovery of Secured Lender's Claim

We represented a lender whose $650,000 loan balance was collateralized by health equipment lease receivables. The lease portfolio was not performing well, and the borrower was not paying the bank according to loan terms. Initially, we helped prepare and negotiate a Forbearance Agreement. We also defended a lawsuit against the bank by the borrower and successfully obtained dismissal. We later filed a lawsuit on behalf of the lender upon default under the Forbearance Agreement. We obtained immediate "possession" of the leasehold receivable collateral at a provisional process hearing and obtained an order appointing a receiver to collect the leasehold receivables. The bank recovered the full amount of the debt and most of its attorney fees and costs.

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