Commercial Litigation

Commercial Litigation

We represent banks, asset based lenders, and finance companies to enforce their defaulted commercial contracts and secured lending agreements.   When a commercial loan defaults, we understand that time is of the essence for the lender.  Our initial consultation focuses on the current status of the business relationship at issue, including serving the requisite default and accelerations notices, conducting pre-litigation investigation including real property and asset searches to determine creditor priorities and liens, the likelihood of enforceability of a judgment against the borrower. 

To the extent feasible, we represent lenders in resolving defaults by available optional legal alternatives such as work-out agreements requiring additional security deposit agreements, irrevocable lines of credit and personal guarantees which can improve the lenders financial and legal position and reduce non-performing loans to make payment to the lender the borrower’s priority and minimize disruption to the lender’s operations and improve its balance sheet.  Where available, an agreement with the Debtor to “stipulate to judgment” may provide a means to obtain installment payments at a negotiated rate.  In the event of a default in payment under the Stipulation, the creditor is entitled to apply directly to Court to have a Judgment entered against the Debtor.  The benefit to the Creditor in this situation is they have a readily obtainable judgment to enforce.  The benefit to the Debtor is they are able to avoid the costs of litigation.  

If after such initial evaluation, litigation is deemed appropriate, we timely initiate a legal action using all available remedies as necessary under the Commercial Code including foreclosure, claim and delivery, pre-judgment writs of possession or writs of attachment to promptly recover or attach the equipment, assets or other collateral to obtain payment of deficiency balances and costs incurred.  We incorporate a fixed fee or contingent fee option for these legal services to maintain client costs and to permit a more flexible approach to enforcing its financial obligations.