Secured lenders in central Illinois need sophisticated bank attorneys to maximize their recovery while limiting the cost it takes to liquidate the collateral. Our financial services attorneys have years of experience in assisting secured lenders in numerous such transactions successfully.
Secured lenders often require commercial workouts for their substandard loans to prepare for litigation that may arise in the enforcement of the loan documents. Our commercial banking lawyers have the experience in such transactions to reduce the cost of litigation before it even arises.
Take action and protect your rights in your financial institution’s collateral. Contact us at 309-699-4691 or toll free at 877-699-4691.
Commercial Mortgage Foreclosure
The most valuable collateral on most commercial loans is the real estate that the business pledges to secure its loans. Our bank attorneys have successfully prosecuted hundreds of commercial mortgage foreclosures at all levels of complexity from standard note and mortgage foreclosures, to complicated land trust foreclosures with competing priorities between creditors, and even mechanic’s liens.
Often debtors do not give the bank its collateral back without a fight, which our bank attorneys have routinely won. Replevin actions quickly enable creditors to obtain possession of their collateral before the debtor can dissipate it. Occasionally, notice is not required to obtain an order of replevin if the right facts are present.
Creditor’s Rights in Bankruptcy
Our bank attorneys have represented many creditors in commercial and consumer bankruptcies, including agricultural filings. We have obtained stay relief in contested matters, defended against preference actions brought by Bankruptcy Trustees, and brought adversary actions pursuant to the Uniform Fraudulent Transfer Act against debtors that converted the lender’s collateral.
Our bank attorneys have represented financial institutions in contested guaranty actions to make a complete recovery on all available collateral securing the payment of the commercial loan. Further, our attorneys are experienced in all facets of litigation to obtain judgment as quickly and cost efficiently as possible.
Uniform Commercial Code
Banks must comply with the Uniform Commercial Code in perfecting its security interest in collateral and its subsequent liquidation. Our Bank attorneys have years of experience in security agreements, issues related to perfection and creation of security interests and the enforcement of such security interests against competing creditors.
Enforcement of Judgments
Our bank attorneys not only get judgments, but they get them paid. A judgment is only one step in obtaining a complete recovery on a commercial loan, that judgment must then be enforced through supplemental procedures. Our bank attorneys have performed many enforcement procedures from citations to discover assets to wage garnishments, and even foreclosure of judgments.
Peoria Bank Attorneys
At Hall, Rustom & Fritz LLC, we represent banks in complex commercial loans that require workouts and litigation for recovery. Our bank attorneys have years of experience, routinely publish articles and books in the space, and sit on the Illinois State Bar Association’s section council on Commercial Banking, Collections and Bankruptcy.
For more information or to schedule an appointment with an experienced lawyer, please contact us at 309-699-4691 or toll free at 877-699-4691.