Assisting Clients with Complex Problems Created by the Pandemic and Associated Economic Distress
Seward & Kissel LLP announced today the launch of its Commercial Lease and Loan Restructuring Task Force, in response to complex commercial real estate issues largely driven by the COVID-19 pandemic. This 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 utilization requirements;
- Liability minimization for tenants and lease guarantors;
- 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;
- Commercial real estate loan restructurings, including the negotiation of forbearance agreements, waivers, and amendments for both borrowers and lenders; and
- 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," said Gayda, partner in the firm’s 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," added Kisch, partner in the Real Estate Group at Seward & Kissel.
About Seward & Kissel LLP
Seward & Kissel LLP, founded in 1890, is a leading U.S. law firm with offices in New York City and Washington, D.C., with particular expertise in the financial services, investment management, banking, and shipping industries. The firm is well known for its representation of investment advisers and related investment funds, broker-dealers, major commercial banks, institutional investors, and transportation companies (particularly in the shipping area). Its practices primarily focus on corporate, M&A, securities, litigation (including white collar), restructuring/bankruptcy, real estate, regulatory, tax, employment, and ERISA for clients seeking legal expertise in these areas.