Bone McAllester Norton’s Commercial Lending and Creditors’ Rights Group provides transactional and litigation advice to banks, businesses and individuals in all aspects of the lending process, from preparation to enforcement of the loan documents, including foreclosure and litigation.
Commercial Loan Documentation, Protecting Collateral and Renewals and Re-Structure Negotiations/Work-Outs
We represent banks and other lenders in credit facility transactions across a wide array of industries, secured by all forms of collateral. Our lawyers are experts at negotiating and structuring new credit facilities and preparing all necessary loan documentation for a new loan transaction. We have extensive experience with loans for all usual purposes, including real estate acquisition and development loans, construction loans, business acquisition loans, commercial and industrial loans and working capital facilities. Our attorneys also advise lenders involved in syndicated loan transactions. We regularly participate in the negotiation and documentation of loan amendments, renewals, modifications, re-structures and consolidations.
We work with our lender clients to prepare documents that fully satisfy the needs of the loan transaction and provide the lender with all necessary protections in the event of default, collection or litigation.
Protecting Creditors’ Rights: Foreclosure, Litigation, Lien Rights and in Bankruptcy
Our creditors’ rights attorneys participate in litigation in federal and state courts related to enforcement and collection of loans and unpaid credit, including sums owed to vendors and suppliers. Once judgment is obtained, our team works to collect the judgment through liquidation of collateral, including Tennessee foreclosures of real property and Article 9 sales of personal property, as well as the enforcement of lien rights and other non-litigation protections.
Our commercial litigation attorneys regularly represent creditor clients in Bankruptcy Court in all bankruptcy chapters, including plan of reorganization negotiation, litigation related to stay relief, objecting to discharge and preference defense actions.
Bone McAllester Norton’s Commercial Lending and Creditors’ Rights attorneys are an experienced and respected team of legal professionals, including a former bankruptcy trustee and former general counsel to Tennessee’s then-largest bank. We have years of experience in all facets of the lending and collection process and look forward to putting this experience to work for you.
- Representation of bankruptcy trustees in fraudulent conveyance and preference avoidance actions. Our attorneys served as local co-counsel for Liquidating Trustee in a large Middle Tennessee bankruptcy case involving the prosecution and management of more than 280 preference actions, totaling more than $75 million in dispute.
- Representation of national and regional banks and creditors in commercial litigation, collections and other related litigation.
- Representation of lenders in actions related to commercial and consumer foreclosures, both in Tennessee and Nashville, including loan workout and forbearance agreements, judicial foreclosures and detainer actions.
- GreenBank v. Sterling Ventures, et. al. – a Tennessee Court of Appeals decision that should help lenders bidding on foreclosed assets prevail in litigation after they buy distressed assets. The appeal judges said that a 14 percent discount to a property’s appraised value is “commercially reasonable” and thus gives banks the backing they might need in court. Lenders are well advised to continue the practice of obtaining current appraisals prior to foreclosure and base the foreclosure bid price on the current appraisals, taking into account costs of foreclosure and costs of owning the property.