Attorney(s) Referenced

Creditors’ Rights

The Chartwell Law Offices, LLP’s Creditors’ Rights Department handles commercial loan documentation, distressed loan workouts, asset recovery and liquidation, for an assortment of bank and non-bank secured lenders, including lenders participating in the U.S. Small Business Administration’s guaranteed loan programs. Our members’ representative clients have included Wachovia Small Business Capital, Business Loan Express, Citizens Bank, CIT, Penn Business Credit, Medallion Business Credit, Wilmington Trust, Washington Mutual, PNC Mortgage, The Money Store Investment Corporation, Norwest Financial, M&T Bank, OnBank & Trust Company, Wilshire Credit Corp., GE Capital Mortgage, State Street Bank, Keycorp (NationsBank), Cenlar Federal, Wells Fargo Home Mortgage, Security National Servicing Corp., Interbay Funding, Susquehanna Patriot Bank and Vanguard Leasing.

The loans we handle are typically secured by a mixture of real estate and personal property (such as securities, machinery, equipment, chattel paper, aircraft, motor vehicles and accounts receivable), and may be structured as simple mortgage loans, more complex asset-based transactions, or financing leases. Thus, we are familiar with a broad range of foreclosure, tax, title, lien priority, environmental, and Uniform Commercial Code-related issues. We have also successfully defended against a variety of lender-liability claims, and handled a broad variety of the land use, title and environmental issues which typically arise.

Such skills are invaluable in properly documenting new loans, as well as in recovering defaulted ones. Our commercial litigation and bankruptcy experience rounds out the group’s skills, so as to protect lenders’ interests and maximize their recovery through a single law firm, without the need to change firms mid-stream on the filing of a bankruptcy petition. The Department is a far-reaching practice group, with Attorneys in the Department admitted to practice in all federal and state courts in Pennsylvania and New Jersey, and covering the entirety of both states.

Whether booking new loans, or liquidating existing ones, the management of information is of vital importance. Our professionals are technologically advanced, and able to work in the field as well and as quickly as they can in the office. Our inventory of documents, research, forms, and diverse experience work together, to seamlessly facilitate transactions, avert or minimize litigation, and enhance our clients’ bottom lines. Accordingly, we believe that we can provide the same services as a much larger law firm, at a more reasonable price, than our competitors.

Our Department boasts over 30 years of experience representing commercial real estate and asset based lenders in loan documentation, workout and collection of non-performing loans. This vast experience in documenting secured transactions and collecting the balances owed on defaulted loans allows us to uniquely represent our clients in a cradle to grave approach which is both cost effective and mindful of the client’s need for results. Our experience also includes documentation of portfolio purchase transactions in excess of $15 million of small ticket leases.

The Creditors’ Rights Department is also qualified to handle all types of loans guaranteed by the U.S. Small Business Administration as many of our clients are SBA approved for SBA Express, Low Doc and Export Working Capital Loans. We are cognizant of the need for specific and efficient litigation plans which will provide a maximum recovery from the SBA.

Our diverse experiences include:

  • Representing large national and regional lenders in documenting commercial loans and collecting the accelerated balances
  • Preparation of workout and forbearance agreements providing an opportunity for turnaround of insolvent entities
  • Preparing documentation for large portfolio purchase transactions
  • Successful defense of large institutional lenders in lender liability and predatory lending lawsuits
  • Commercial and residential foreclosure actions culminating in documentation and closing of REO sales to third parties
  • Documenting secured transactions in accordance with Article 9 of the Uniform Commercial Code
  • Liquidating liquor licenses to third parties

If you desire an aggressive, results-oriented law firm to document or collect your secured and unsecured loans or leasing transactions in Pennsylvania and New Jersey, then the Creditors’ Rights Department at The Chartwell Law Offices, LLP can offer you large law firm experience in the most cost-effective manner. Finally, because we believe that our best clients are educated consumers of legal services, we can bring our professionals and technology to your offices, to better inform you as to who we are, provide in-house training, and to provide answers to complicated questions. For more information, please contact us at any time.