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May 28, 2020Client Alert

Michael Best Presents “Preparing for the Next Stage of our Real Estate Market”

On May 27, five members of our Real Estate, Tax, and Banking & Financial Services teams presented on “Preparing for the Next Stage of our Real Estate Market.” Michael Best attorneys explained the procedures of and strategy behind foreclosures, workouts, Chapter 128 receiverships, and the tax impacts of these agreements to more than 70 virtual attendees, including NAIOP members and Michael Best clients. If our economy does not recover from the pandemic quickly, we are likely to see borrowers and lenders dealing with troubled businesses and real estate assets. The presentation explained the general process for each type of resolution, the timing and outcome differences between them, and several strategy opportunities in each path.

The Panel also discussed how brokers, bankers, title companies, environmental companies, developers, and other due diligence providers in the real estate community can lend value in these processes.

Speakers included Nancy Haggerty on real estate issues, Joe Brydges on forbearance and workout agreements, John Finerty on the foreclosure process, Adam Witkov on Chapter 128 Receiverships, and Daniel LaFrenz on the tax impacts of cancellation of indebtedness.

If you would like to receive a copy of the speech outlines, or set up a more in-depth presentation to your company, please contact Nancy Leary Haggerty.

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