Events Archive

The World of Workouts

Tuesday, November 10th, 2010 | Omni Hotel, San Francisco

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The current state of the capital and real estate markets has created tremendous challenges to both borrowers and lenders alike. As property values decline, leverage levels and cash needs have risen quickly putting pressure on the capital structures of even conservatively underwritten assets. In this timely discussion, our panel of experts will discuss practical and legal issues related to commercial workouts that we all face today including:

  • Initial lender business analysis of a problem loan
  • Workout Strategies: To forebear or not to forebear (and enforce)?
  • What is the range of enforcement options available to a lender?
  • The ever present specter of bankruptcy and its impact on workout strategy
  • Special issues in syndicated loans
  • Enforcing recourse obligations and have California’s single action laws really been tested?
  • The borrower’s side of the story: legal and practical responses to the lender

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MODERATOR

Andy Zighelboim, Senior Vice President | Colliers International

Mr. Zighelboim joined the Colliers Investment Services Group July 2002. Since that time, he has been involved in the sale of over $1 Billion of retail, office, R&D and industrial properties throughout Western US. He has recently been working with several lenders to assist in the formation of their workout and disposition strategies. He organizes ULI’s Urban Plan Program at local Bay Area high schools and teaches the MBA 287: Real Estate Valuation course at the UC Berkeley Haas School of Business, from where he holds an MBA with a concentration in real estate. He also has a BS in Economics from the University of Florida.
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PANELISTS

Peter Ziblatt| Vice President,Wells Fargo: Real Estate Managed Assets Group

Mr. Ziblatt has over 20 years of experience in commercial real estate. He joined Wells Fargo in 2008 to manage a team of senior asset managers in the acquisition, asset management and disposition of bank-owned real estate throughout the US and covering all commercial real estate asset types. Prior to joining Wells, Mr. Ziblatt spent six years at Braddock and Logan where he acquired and/or entitled over 1,000 residential units throughout the Bay Area and prior to that was at Sheppard Mullin practicing real estate and land use law. He has a B.A. from UC Santa Barbara, an M.A. in Public Policy & Public Administration from CSU-Sacramento and a J.D. from University of Pacific’s McGeorge School of Law.

Joan Uhler| Senior Vice President, KeyBank: Asset Recovery Group

Ms. Uhler heads the 15-person team responsible for the restructuring or disposition of KeyBank’s portfolio of distressed commercial and homebuilding assets in the Western US. Prior to moving to the Asset Recovery Group in 2007, she was a Regional Credit Officer for Key Commercial Real Estate and immediately prior to that was an originator of senior and mezzanine loans for CapitalSource. From 1992-1998, Ms. Uhler held Asset Manager and Regional Manager positions in the Real Estate Special Assets and OREO groups at Bank of America. During this time, Ms. Uhler managed a team of Vice Presidents responsible for a $500MM portfolio of distressed commercial real estate loans. Ms. Uhler holds an MBA in Real Estate and Finance from Columbia Graduate School of Business and a BS in Landscape Architecture from West Virginia University.

Scott McPhee| Partner, Morrison & Foerster: Real Estate Practice Group

Mr. McPhee is a Partner of the firm’s international Real Estate Practice Group He has represented various lenders, investors, and property owners in connection with the financing, acquisition, disposition, and development of various property types and has developed a particular expertise in connection with the work-out of troubled loans, including restructurings, debt and equity transfers and remedies, including those related to assets in bankruptcy. Mr. McPhee joined the firm in 1998 and briefly left the firm to serve as senior in-house counsel for Countrywide Commercial Real Estate Finance from 2004 to 2006. Mr. McPhee holds a BA from UC Santa Barbara and a JD from Loyola Law School.