Commercial Real Estate Defaults, Workouts, and Reorganizations - CLE, Continuing Legal Education - ALI
Commercial Real Estate Defaults, Workouts, and Reorganizations
  • Annual Advanced ALI-CLE Course of Study/Live Video Webcast
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Shipped to you: Printed Coursebook | MP3 CD-ROM | DVD Video

Available Online: Online CLE | MP3 Audio Files | Coursebook

Why You Should Attend

Are you prepared for the changed dynamics and outcomes in the brave new world of real estate defaults? 


In just two and a half days, you can learn what you need to know to properly handle troubled commercial real estate loans and leases. In this practical commercial real estate CLE course, comprising more than 16 hours of instruction, including one hour of ethics, preeminent experts present instruction on defaults, workouts, and reorganizations in the context of the national financial systems, the failure of significant financial institutions and securitized financing structures, current bankruptcy practice, and the applicable law as it exists and continues to develop with unprecedented speed.


In a relaxed setting and with proximity to the nation’s capital, Smithsonian museums, and attractions, join fellow practitioners in enhancing your knowledge and skills, while enjoying profitable networking opportunities.

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What You Will Learn

Our experts will guide you through the key issues confronting real estate professionals in today’s troubled market, including:

Negotiation and documentation of a workout: restructuring a defaulted conventional real estate loan and a securitized real estate loan

Dealing with a failing financial institution and minimizing the risk of becoming an institution-affiliated party

Applicable provisions of the bankruptcy code, state statutes, and case law

Tax issues in workouts: how to use them and avoid them

Using bankruptcy to restructure projects

Workouts of public-private deals or those having government participation

Bankruptcy sales of multiple leasehold and fee properties

Negotiation strategies and their impact on the participants

Using receivers in workouts

Strategies for use by mezzanine and other subordinate lenders

Sales of notes secured by real estate


Registrants may participate by submitting questions, problems, and comments, both in advance of, and during, the program. The faculty members integrate their responses to registrants' written questions into the course discussion and provide designated times during the course to address additional questions.

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Who Should Attend

Real estate attorneys, bankruptcy attorneys, in-house legal practitioners, real estate professionals, and accountants who represent lenders, borrowers, and property owners in the negotiation and management of real estate loans and leases should attend this accredited continuing legal education program from ALI CLE. This commercial real estate CLE program is also especially relevant for professionals who must address troubled real estate loans and leases.

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Planning Chairs

Thomas F. Kaufman Goulston & Storrs, P.C., Washington, D.C. (also on faculty)

Margaret A. Mahoney, Judge, U.S. Bankruptcy Court, Mobile, Alabama (also on faculty)

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Robert Feldman, Adjunct Professor, UCLA School of Law, Los Angeles

Cheryl A. Kelly, Thompson Coburn LLP, St. Louis

David R. Kuney, Sidley & Austin LLP, Washington, D.C.

Andrea M. Mattei, Group Vice President, Wyndham Worldwide Corporation, Parsippany, New Jersey

Brian J. O'Connor, Venable LLP, Baltimore

M.J. Pritchett, Orrick, Herrington & Sutcliffe LLP, San Francisco

(Additional faculty to be announced)

ALI CLE Program Attorney: Thomas M. Hennessey (

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Program Schedule


8:00 a.m. Registration and Continental Breakfast

8:55 a.m. Welcome and Announcements - ALI CLE Staff
Video Webcast Segment A

9:00 a.m. Introductory Remarks

9:05 a.m. Analyzing the Default and the Loan Documentation

10:30 a.m. Networking and Refreshment Break

10:45 a.m. Negotiating and Documenting the Restructure

12:30 p.m. Lunch Break
Video Webcast Segment B

1:45 p.m. Construction Loan Defaults

2:15 p.m. Defaults Involving Insolvent Financial Institutions

2:45 p.m. Networking and Refreshment Break

3:00 p.m. Mortgage Enforcement Issues and Loan Sales

3:40 p.m. Lender and Third-Party Liability

4:00 p.m. Conveyances in Lieu of Enforcement

4:30 p.m. Enforcement of Creditors' Remedies under State Laws; Multistate and Multinational Proceedings

4:50 p.m. Tax Impacts of Default and Foreclosure

5:30 p.m. Adjournment for the Day ; Networking Reception for Registrants and Faculty

FRIDAY, JUNE 7, 2013

8:30 a.m. Networking Session and Continental Breakfast
Video Webcast Segment C

9:00 a.m. Overview of the Bankruptcy Court System

9:45 a.m. Adequate Protection in the Real Estate Context

10:45 a.m. Networking and Refreshment Break

11:00 a.m. Chapter 11 Reorganization Plans

12:30 p.m. Lunch Break
Video Webcast Segment D

2:00 p.m. Preferences and Fraudulent Transfers

2:30 p.m. Leases and Other Executory Agreements in Bankruptcy

3:30 p.m. Networking and Refreshment Break

3:45 p.m. Sales of Real Estate in a Bankruptcy Context

4:45 p.m. Bankruptcy Filings by Solvent Debtors

5:15 p.m. Questions and Answers

5:30 p.m. Adjournment for the Day


8:30 a.m. Networking Session and Continental Breakfast
Video Webcast Segment E

9:00 a.m. Ethical Concerns Incident to Representing Debtors and Creditors

10:00 a.m. Recent Developments

10:45 a.m. Networking and Refreshment Break

11:00 a.m. Recent Developments (continued)

11:30 a.m. Questions and Answers

12:30 p.m. Adjournment
Total 60 minute hours of instruction : 16.50, including on e hour of ethics

Total 60-minute hours of instruction: 16.50 hours, including one hour of ethics

Suggested Prerequisite: Limited experience in legal practice in subject matter or completion of Basic CLE Course in subject matter

Educational Objective: Acquisition of knowledge and skills to develop proficiency as a practitioner; maintenance of professional competence as a practitioner; provision of information on recent legal developments

Level of Instruction: Advanced

Click Here for MCLE Credit Information

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Here's what registrants have said about this course:
Excellent faculty-astute and timely commentary on current legal and practical issues faced in workouts, bankruptcy, and reorganizations.
This was a great course! It is especially relevant in today’s real estate market. The faculty was a very good mix of practitioners, law professors, regulatory counsel and a sitting bankruptcy judge. They geared the presentation to make sure they covered all of the pertinent material. At breaks, the faculty mingled with the attendees to make sure all questions were addressed. I highly recommend this course to real estate practitioners and anyone else interested in this area of law. It is well organized and well presented. The course materials are clear and informative, as well.
This course was generally very strong. The bankruptcy program was especially good. The panel did a good job of remaining objective as between debtor and creditor points of view.
The panel was absolutely excellent; extremely knowledgeable and with much experience. Plus, the manner in which the seminar was conducted was very conducive to learning the material and to learning from the experiences of the panel members. I found it beneficial for each of the members to be able to insert their questions and comments during the presentations of the other members, that way providing us with the knowledge of all the members with respect to each of the subject matters. Finally, I found all of the panel members to be very approachable and willing to answer questions. Tom Kaufman was correct when he stated that this was one of the best panels that have been brought together for this course.
The panel’s experience, knowledge base and ability to effectively communicate the content were outstanding. The informal presentation style allowed panel members to add valuable insights into their own practical experiences. The seminar was well organized and I recommend it for both real estate and workout attorneys alike.
I have attended many of the ALI CLE presentations over the years. They are first rate sessions for anyone seeking familiarity with the topics. The presenters are invariably highly skilled, competent attorneys and judges. I have never been disappointed.
The panel-style presentation was both effective and more interesting that a single-presenter format. It provided a setting that promoted a more complete presentation of materials and legal concepts because each attorney on the panel provided varying perspectives and insights on the specified topics. The expansive quality and experience of each of the panelist also contributed to the effectiveness of this program.
I thought the class was excellent. I attended the course last year as well, and I actually got more out if it this year. The faculty interacted well, shared information and remained engaged in all the topics. I thought the continuity of the program was very good. I came to this class because I am responsible for distress mortgage loans at my company. As an in-house lawyer it is somewhat difficult to keep up with the latest developments and get info on what other lenders may be doing on certain issues. I like this class because it fulfills my need to keep up with the latest and greatest. The bankruptcy section was very helpful to me. Great class. Thank you.
Excellent Program

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All times are Eastern

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