CHICAGO, June 1 /PRNewswire/ -- With a predicted $1.4 trillion in loans due to reach term limits between 2010 and 2014 for significantly undervalued properties, the commercial real estate market crisis promises to become even more challenging and complex. Property values have decreased in excess of 40% since 2007 in some cases and over half the loans due could be considered "underwater." In anticipation of this continuing crisis and the challenges our clients may face Jenner & Block has formed a Real Estate Finance Litigation and Workout Task Force.
"Jenner & Block has a longstanding reputation for helping our clients anticipate and navigate complex business disputes," said Jenner & Block Managing Partner Susan C. Levy. "Consistent with this tradition, we have launched a Task Force comprised of our most experienced partners who are combining forces to meet the challenges of the continued and ever increasing meltdown in the commercial real estate market."
Drawing from decades of cross-disciplinary experience in all legal areas relevant to the commercial real estate crisis, the Task Force unites litigators skilled in resolving complex real estate finance issues with attorneys who have structured deals and workouts, restructured loans and handled bankruptcy matters in connection with signature commercial real estate properties across the country -- creating a unique resource for clients grappling with the recent economic fallout.
Dedicated to achieving the most favorable results for clients at any point fallout may occur during the commercial real estate crisis, from deal making to litigation, members of the Task Force have not only protected clients' interests throughout the first wave of the crisis, but continue to help our clients recover their losses due to this unfolding crisis.
Task Force attorneys have represented numerous developers, realty and holding companies, and financial institutions in loan workouts and restructuring. They have represented clients in bankruptcy proceedings including debtors, lenders, creditors' committees, private and public companies, members of the hospitality industry and REITs. Task Force litigators have represented financial services companies, developer groups, REITs and international hotel chains in real estate finance litigation, arbitrations and mediation across the country. Together, the Task Force has achieved impressive results for clients in the face of the crisis and is well-equipped to provide future guidance and relief as the crisis continues.
The Task Force is anchored by the Co-Chair of Jenner & Block's Litigation Department, David J. Bradford; the Chair of the Bankruptcy, Workout and Corporate Reorganization Practice, Daniel R. Murray; the Chair of the Real Estate Practice, Donald I. Resnick, and the Co-Chair of the Complex Commercial Litigation Practice, Barbara S. Steiner.
Please click here for more details about the scope of the task force, our record of successful resolutions to client matters and task force member experience: http://www.jenner.com/practice/practice_detail.asp?ID=544
SOURCE Jenner & Block