Oren Bitan speaks at the 2020 USC Gould School of Law Real Estate Law and Business Forum on the topic of “Real Estate Bankruptcy, Receiverships and Work-Outs: Practical Strategies for the Post-COVID Era,” on Thursday, October 29, 2020.
COVID-19 is significantly impacting financial and real estate markets. Tenants are unable to pay their rent, owners cannot pay their mortgages, and chapter filings have increased. In light of the COVID-19 pandemic, the bankruptcy landscape is changing and evolving differently. Our panelists will discuss the impact of COVID-19 on bankruptcy proceedings, changes to bankruptcy law, and the evolving judicial response in bankruptcy courts to foreclosures, force majeure clauses and other contractual defenses, as well as special/single purpose entities, non-recourse loans and carve out guarantees, intercreditor agreements, and pre-workout or pre-negotiation letters. The panelists will also discuss the impact of COVID-19 on state court receiverships and alternative remedies to bankruptcy, including lender considerations in workouts, assignment for the benefit of creditors, and other state remedies.
