Banking and Finance

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Transactional Matters

• $47 million refinance and cross‐collateralization of various borrower obligations, including participation agreement.
• $41 million construction and bridge finance to rehabilitate 180,000 sq. ft. mixed use building. Funding includes city bond issues and historical tax credits from the State.

Regulatory Matters

• Advised client on recent changes under the Dodd‐Frank Act to the Real Estate Settlement Procedures Act (“RESPA”) and implemented by the Consumer Financial Protection Bureau (“CFPB”) in 2014. Developed recommended procedures to minimize liability risk under RESPA and the Truth‐in‐Lending Act.
• Review of an agreement with bank’s central routing unit (CRU) which would govern all transactions for its automated teller machines (“ATM”) and point‐of‐sale (“POS”) transactions conducted by the bank at an estimated amount of $337 million annually. The review identified key changes to the agreements in order to limit the bank’s exposure under the agreements and to protect the bank’s interests in its ongoing relationship with the CRU. Further assisted the bank in negotiating many of the above changes to the agreements with CRU’s counsel.

Litigation Matters

•  Suit on promissory notes, guarantee and foreclosure of personal property of multiple restaurant franchise locations in Iowa. Matter involved franchise, leasehold and indemnification issues. Negotiated and obtained forbearance agreements with three limited guarantors, thereby reducing the overall obligation by approximately $250k. Successfully litigated matter and garnered an approximate $335,000 judgment for client.
• Foreclosure and receiver action for 42‐acre multi‐building shopping mall complex. Matter involved the review of numerous bank documents, lease agreements and complex easement and joint tenant real estate documents. Successfully negotiated a settlement wherein the borrower surrendered possession of the real estate through a deed‐in‐lieu foreclosure.