Husch Blackwell LLP recently issued the following announcement.
It has become apparent that the short-term “fixes” provided by the federal and state governments will be insufficient in preventing the COVID-19 crisis from having a drastic impact on borrowers. Lenders need to be prepared for the long-term effects this pandemic will have on many borrowers, especially as initial grants of payment deferrals and other concessions made to borrowers expire.
As this environment increases the troubled debt, workouts and insolvency matters that many lenders are handling, it is necessary to evaluate loan portfolios to identify at-risk credit facilities, manage risk and work with borrowers to maximize repayment.
Topics:
Examine key elements of file reviews, reservation of rights and notice of default letters, and pre-negotiation letters
Review of key considerations when establishing waiver agreements and loan amendments
Discuss when forbearance agreements are appropriate and lenders’ responsibilities during forbearance
Review of common – yet key – terms and conditions to consider when entering into a forbearance agreement
Presenters:
Buffey E. Klein, Partner
Jessica M. Zeratsky, Partner
Date:
September 1, 2020
Original source can be found here.