Foreclosures & Receiverships

Miles & Stockbridge is an effective advocate for traditional and nontraditional commercial lenders in all issues involving real estate and personal property foreclosures.

Our lawyers understand that prompt and efficient receivership and foreclosure proceedings are part of the full-service package that commercial lenders expect from a leading business law firm. We use our extensive experience in bankruptcy and creditors' rights, Uniform Commercial Code (UCC) and commercial real estate to handle commercial foreclosure and receivership issues in ways designed to minimize their negative effects upon our clients’ collateral.

• We counsel our client to negotiate lending documents with provisions designed to reduce many pitfalls that can make receiverships and foreclosures more expensive and lengthy.
• We help lenders pursue viable alternatives to foreclosure — from renegotiating credit terms and securing additional collateral to identifying new loan guarantors and negotiating forbearance terms — to allow for a private sale of the property.
• We pursue creative alternatives to foreclosures when appropriate, and are particularly adept at deed-in-lieu-of-foreclosure transactions, in which the lender agrees to accept the deed back from the borrower and receives the title along with all existing liens and encumbrances, effectively avoiding the time and cost of a foreclosure.
• We carefully craft orders appointing receivers for collateral to enable preservation and maximization of value, while safeguarding against liability for our clients.

We also handle creditor’s sales for all types of personal property, including dispositions of collateral under the UCC.  We are adept at obtaining court-appointed receivers in contested cases, and addressing the issues that can arise for a secured lender throughout the receivership process.