Shearman And Sterling

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Jan 29, 2009

Detective, Liaison, Manager, Psychologist – Acting as the Agent in a Distressed Syndicated Real Estate Loan


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The current liquidity crisis in the credit markets is likely to continue unabated. Declining rents and rising vacancies are adding pressure to an already difficult situation for commercial properties. Increasing numbers of borrowers of syndicated real estate loans will be unable to refinance or repay such loans upon maturity. Administrative agents will be charged with spearheading the workout process and reconciling the differing interests and demands of the parties. The agent’s resourcefulness and fortitude will be thoroughly tested.


Authors and Contributors

Malcolm K. Montgomery


Real Estate

+1 212 848 7587

+1 212 848 7587

New York

Paul Balaam


Real Estate

+44 20 7655 5608

+44 20 7655 5608