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919 Third Avenue (at 55th St.)
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CLE


Debevoise & Plimpton LLP has been accredited by the New York State and California State Continuing Legal Education Boards as a provider of continuing legal education. The program is being planned with the intention that its attendees qualify for 1.5 General CLE credit hours for their participation.

 

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www.debevoise.com

Distressed 
Real Estate Subordinated Debt


Wednesday, May 21, 2008

8:30–9:45 a.m.

Breakfast will be served at 8:00 a.m.

Rising delinquency rates on commercial mortgages are beginning to test the complex intercreditor arrangements at the heart of mezzanine and AB note financings. Against this backdrop, our program focuses on the key factors affecting the leverage and recovery prospects of mezzanine lenders and B note holders in distressed real estate assets. In particular, we will explore:

  • Extent of subordination of mezzanine lenders 
    vs. B note holders

  • Typical rights and remedies of junior lenders in a default situation—consent rights, cure rights, purchase rights, UCC foreclosure—and their practical impact on restructuring dynamics

  • Effectiveness of bankruptcy-remoteness features

  • Specific bankruptcy-related risks for junior lenders

Speakers

 

 

Nicole Mesard

Counsel, Debevoise & Plimpton LLP

 

My Chi To

Partner, Debevoise & Plimpton LLP