SFGH partner Jonathan Friedland will speak at webinar titled "A Distressed Company and its Secured Lender"
SFGH is pleased to announce that Jonathan P. Friedland will speak at an upcoming West LegalEdcenter / Financial Poise webinar titled "A Distressed Company and its Secured Lender" on September 6, 2018 at 2:00 p.m. Most businesses of any meaningful size in the United States have a line of credit or term loan with a bank or other lender that is supported by a lien on substantially all of the assets of that business. And a secured lender’s agreement with its borrower commonly provides the lender with very strong legal remedies in the event the borrower defaults on the loan (whether the default is a “payment default” or a “covenant default”). What can a secured lender do upon a borrower’s default? What will a lender actually do upon a borrower’s default? What factors can and should a secured lender consider when deciding what action to take? What can and should a borrower do in this situation? This webinar discusses the industry norms and practices that secured lenders and advisers to distressed companies tend to follow when dealing with a defaulting borrower. It paints a picture of the path a “workout” may follow, discusses the leverage points that both the secured lender and the borrower may have, and explains the various possible outcomes.