Seward & Kissel establishes commercial lease and loan restructuring task force
Seward & Kissel has launched its Commercial Lease and Loan Restructuring Task Force, in response to complex commercial real estate issues largely driven by the Covid-19 pandemic.
The task force will help clients address real estate loan and lease related difficulties with a multi-disciplinary approach. Led by partners Robert J Gayda and Rhona J Kisch, the task force is comprised of attorneys from various practice groups, including Real Estate, Corporate Restructuring & Bankruptcy, Litigation and Tax.
Lawyers in the task force are already advising and guiding clients through complex issues such as: lease renegotiations for both landlords and tenants, including the analysis of lease and ancillary agreement provisions relevant to the COVID-19 pandemic; drafting and negotiating subleases to address post- pandemic space utilisation requirements; and liability minimisation for tenants and lease guarantors.
The team is also advising clients on the potential impact of bankruptcy proceedings on the landlord-tenant relationship and representation in any in-court bankruptcy processes; lease-related litigation, including litigation concerning force majeure provisions and foreclosure actions; tax implications of lease and loan restructurings; and commercial real estate loan restructurings, including the negotiation of forbearance agreements, waivers, and amendments for both borrowers and lenders.
Another focus is guiding lenders through a borrower bankruptcy process, including DIP financing/cash collateral, adequate protection issues, section 363 sales and plan negotiation and confirmation.
“The launch of our Commercial Lease and Loan Restructuring Task Force is an extension of our high-touch, client-first approach to solving complex legal problems,” says Gayda, partner in the Corporate Restructuring & Bankruptcy Group. “By bringing together key practice groups within Seward & Kissel, we can best service our client’s needs during these uncertain times.”
“The depth of our attorneys’ real estate, corporate restructuring, litigation and tax experience places us in a unique position to provide a one-team approach to solving our client’s commercial real estate issues as they arise during these uncertain times,” adds Kisch, partner in the Real Estate Group at Seward & Kissel.