Long before a loan is transferred to a lender's Special Loans group, bankers are asked to help their customers navigate impending financial downturns. A banker whose focus may have once been sales and market management and then maintenance and observation, may now need to handle events of default and, often, gaps in reporting – all with a mind to helping the borrower out of a troubled situation that might otherwise see its risk rating downgraded.
When a loan is moved to a Special Accounts group, the approach toward administration and collection will vary from institution to institution. Some banks may be aggressive and seek to immediately collect as much as possible, whereas others may look to promote a turnaround.
No matter the approach, bankers must frequently contend with events of default, reservations of rights, waivers, forbearances and restructurings with a mind to not aggravating the borrower's troubled situation. With a view to helping bankers prepare for the tough conversations that surround such events, this instructive on-demand webinar will cover a number of relevant topics, including:
- The key legal considerations lenders must keep top of mind
- When it is important to involve the Special Loans team
- Important aspects of notice of events of default, waivers and reservations of rights
Speakers
- Matthijs van Gaalen, Partner, Gowling WLG
- David Cohen, Partner, Gowling WLG
- Scott Sinclair, President, Sinclair Range Inc.
Read the original article on GowlingWLG.com
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
