Distressed real estate presents issues common to all commercial defaults, but also requires particularized expertise. We are leaders in the representation of unsecured parties in real estate workouts and insolvencies. Because we do not work for lenders, we are free to represent property owners, guarantors and mechanics lien holders, and we have handled such engagements in cases involving some of the most prominent distressed real estate in Chicago and the suburbs.
In addition, we have handled loan workouts for many corporate clients, including several large real estate developers. In many cases, we have been able to structure resolutions that allow our clients to resolve their liabilities and successfully move forward. In other cases, we have been able to engage in negotiations on multiple fronts until an alternative resolution emerges and the threat of bankruptcy recedes. When necessary, we have defended litigation in state and federal court in order to minimize liability or avoid it entirely.