Tomas A. Ortiz - Zuber Lawler & Del Duca LLP
Richard M. Pachulski - Pachulski Stang Ziehl & Jones
Eric V. Rowen - Greenberg Traurig, LLP
COVID-19 is significantly impacting financial and real estate markets. Tenants are unable to pay their rent, owners cannot pay their mortgages, and chapter filings have increased. In light of the COVID-19 pandemic, the bankruptcy landscape is changing and evolving differently. Our panelists will discuss the impact of COVID-19 on bankruptcy proceedings, changes to bankruptcy law, and the evolving judicial response in bankruptcy courts to foreclosures, force majeure clauses and other contractual defenses, as well as special/single purpose entities, non-recourse loans and carve out guarantees, intercreditor agreements, and pre-workout or pre-negotiation letters. The panelists will also discuss the impact of COVID-19 on state court receiverships and alternative remedies to bankruptcy, including lender considerations in workouts, assignment for the benefit of creditors, and other state remedies.