Severson & Werson in San Francisco and Irvine has been handling commercial workouts for a variety of financial institutions for over 50 years. Our clients have included national banks and their subsidiaries; community and regional banks; commercial finance companies; warehouse mortgage lenders; government sponsored entities; and automobile finance companies and their inventory and real estate secured lending to dealerships.
When defaults arise, we have the experience to quickly size-up the strategies for commercial workouts and negotiate agreements with terms that mitigate risk and loss to the client. We conduct a loan document legal audit to assure proper creation and perfection of security interests and enforceability of contracts. With our broad experience enforcing creditors’ rights, we are facile at sculpting forbearance and workout agreements to support appropriate foreclosure and collection remedies and litigation against borrowers and guarantors. We have developed a particularly substantial breadth of expertise representing automobile finance companies in connection with workouts and defaults arising out of inventory “floor plan” financing and real estate secured lending to automobile dealerships.
Our commercial workout attorneys also have extensive litigation experience. As a result, they are particularly adept at identifying potential claims and threats and managing these exposures and risks during the workout process. Skills and experience of this level enable our clients to nip budding litigation before it can take root and be difficult to extinguish. Our ongoing goal in all commercial workouts is to maximize recovery and minimize risk for our clients.