Supervised $1 Billion in Hotels Loans
Representation of special servicer in the administration, servicing and resolving of hotel loans in the aggregate amount of $1 billion. Representation involved work-outs, forbearances, restructurings, sales, assumptions and transfers of beneficial interests, coordination of foreclosures and state and federal court-appointed receiver sales, deeds-in-lieu of foreclosure, transition of hotel franchise/flag, management and liquor licenses, PIP construction issues and equipment leasing.
Handled billions of dollars in distressed debt related to modifications, extensions, forbearances, discounted payoffs, and deeds in lieu of foreclosure.
Oversaw the servicing of over $6 billion worth of hotel loans involving sales and loan assumptions, restructurings, mergers, deeds-in-lieu of foreclosure, forbearances and other workouts, changes in franchises/ flags, operating/ master lease issues, private equity takeovers, changes in management, e...
Debtors' counsel to Fontainebleau Las Vegas Holdings, LLC, and two of its affiliates in their chapter 11 cases in the Southern District of Florida. The debtors had over $2 billion of funded debt, had used $500 million of equity, and were prosecuting claims for $800 million in unpaid additional finan...