Distressed Assets
Instability in the financial markets combined with the global economic downturn have presented parties involved in today's real estate market with the challenges of dealing with the gauntlet of limited financing options, stricter lending standards, and substantially depressed real estate valuations. With this backdrop, it is essential to have legal counsel possessing the breadth and depth of knowledge and experience necessary to address the fallout issues that are sure to follow.
At Jackson Walker, real estate, finance, bankruptcy, litigation and tax attorneys partner with clients to develop a thorough consideration of all options and strategies available to reach efficient and cost-effective solutions to a wide range of problems that may arise as a result of the financial crisis and economic downturn. With offices in six locations located throughout Texas, Jackson Walker is well known to the courts and financial and real estate market participants in the region. We can provide the local presence that is so often essential in addressing clients' issues. The breadth and depth of our experience, combined with our "partnering" approach to providing legal services, give us the unique ability to (a) analyze the possible risks and rewards before investments are made or loans are closed and then (b) offer comprehensive representation to financial institutions, hedge, opportunity and private equity and other investment funds, and developers in real estate transactions, loans, workouts, foreclosures and bankruptcies on a global scale.
Areas in which Jackson Walker attorneys can provide counsel in the distressed asset context include:
Real Estate
With a traditionally strong real estate practice that has previously led clients through the savings and loan crisis of the 1980s as well as other recessions and real estate slumps, Jackson Walker is uniquely qualified to counsel clients during the current economic turmoil. Our real estate attorneys work closely with bankruptcy, financial services and other experts in the firm to provide comprehensive and creative solutions for the most difficult situations.
Bankruptcy
Our attorneys work with clients involved in restructurings, bankruptcy, workouts or creditors' rights remedies. By developing unique working relationships with clients to truly understand their businesses, Jackson Walker attorneys can act quickly to achieve effective business solutions while minimizing risk and navigating the often complex processes that accompany foreclosures, Section 363 sales, reorganization plans, receiverships, UCC sales, and other scenarios invoked by the disposition of distressed assets.
Financial Services
Our financial services practice group has significant experience working with banks, insurance companies, and other financial institutions to acquire and/or sell portfolios of distressed assets, including loan portfolios. Experienced in interpreting the myriad laws affecting lending transactions and the issues that arise during troubled economic times, Jackson Walker attorneys effectively and efficiently guide clients through potential pitfalls that may otherwise delay or derail transactions.
Tax
Jackson Walker's tax practice group has acted as an integral link in scores of distressed asset transactions. Starting with the real estate "bust" of the late 1980s, our tax attorneys have worked alongside Jackson Walker's other practice groups to create tax-efficient workout strategies, provide advice on preservation of net operating losses, structure transactions to minimize income resulting from cancellation of indebtedness, and to otherwise minimize the thorny tax problems that bankruptcy and distressed assets present.
International
In addition to our Texas presence, Jackson Walker also can assist in cross-border distressed asset transactions. Our international team has experience with transactions in more than sixty countries. With experience in corporate transactions, foreign investment laws, international treaties and currency controls, the Jackson Walker team can assist in navigating the world of foreign investments. We also have expertise in additional related international matters such as investment visas and the myriad of controls for inbound and outbound monetary transactions. Such expertise guides our clients in the transfer of money, goods, people and information across borders and is particularly useful in international distressed markets.
