The Commercial and Banking Law Group provides services to its banking, investing and lending clients designed to increase productivity and minimize unnecessary expense and delay. We recognize the importance of prompt response to requests for assistance in transactions and the need for aggressive representation when accounts become delinquent. In particular, we provide specialized and individualized representation for financial clients who don't maintain in-house legal representation, but still desire the type of advice and representation by attorneys who know their business and personnel.
Nordman Cormany Hair & Compton LLP specializes in "front end" lender representation on credit transactions which do not lend themselves to form documentation. Mixed collateral loans, multi-party transactions, guaranteed obligations, shared appreciation loans, multi-bank loan participations are a few of the credit situations which require specially tailored loan documentation. Because of the constantly changing law in these areas, legal representation at the initiation of a credit will avoid defects in documentation, loan losses, and delays due to errors. In many cases, the expense of this representation is properly borne by the borrower rather than the lender. Often, lenders are reluctant to bring in outside counsel because of the perception that lawyers "kill deals"! Nordman Cormany Hair & Compton LLP is committed to the philosophy of using its expertise to make transactions work while protecting the reasonable expectations of its clients. With the aid of our extensive computer and word processing capability, we can, and do, produce complete loan documentation very quickly when required to close a credit transaction.
One of the most extensive areas of our banking law practice involves structuring and implementing loan work outs. Working closely with bank personnel, we combine tenacity and creativity to restructure troubled credits utilizing revised payment terms, personal guarantees and collateral reevaluation to effect payment and avoid or reduce loan losses.
California's anti-deficiency laws and real estate "one action" requirements make legal representation extremely important in all loan defaults involving real or personal property security. This is even more important when the delinquent loan is secured by a combination of real and personal property, or is guaranteed. Improper foreclosure or offset decisions, or even foreclosing in the wrong order can have disastrous consequences. We have successfully advised lender clients in this area for many years, and have been successful in recovering loan balances through judicial foreclosures and the use of court appointed receivers.
The firm is experienced in all available debt collection procedures and resources. Attachment, claim and delivery, receivership, charging orders and assignment orders are examples of procedures and remedies which are often effective. Specialized paralegal support and access to asset investigation resources help reduce collection costs and allow early evaluation of collectibility.
Lender liability claims have increased significantly in recent years. Nordman Cormany Hair & Compton LLP is experienced in all facets of these disputes, including claims involving loan commitments, management and control of the debtor, and allegations of breach of lender's fiduciary duty. In addition, our specialty group advises lenders on internal procedures which can minimize or entirely avoid these claims.
Efficient bank operations have become more important than ever before as a significant factor in bank profitability. Nordman Cormany Hair & Compton LLP not only continuously maintains its level of expertise in this field, but also periodically advises its lender clients with newsletters discussing recent cases, regulations and clearing house rules. Check disputes, presentment warranties, stop payments, forgery and unauthorized negotiation and ATM disputes are only some of the areas in which the firm has extensive experience.
Nordman Cormany Hair & Compton LLP advises its clients on service of process, writs and levies, subpenas for bank documents, customer privacy questions and IRS levies. These problems often can be resolved over the telephone on a same-day basis.
Nordman Cormany Hair & Compton LLP advises its lender clients regarding bank, securities and lending regulations. Truth-in-lending, Equal Credit and Funds Availability are only a small sampling of the areas in which up-to- date expertise is required to avoid the serious pitfalls of regulation non- compliance.
Lenders are potentially liable for cleanup of property which is contaminated by hazardous waste, either through purchase of the property at a foreclosure sale or by participating in the management or operation of the property. There are several steps which lenders can take to reduce uncertainty regarding potential liability, including a pre-transaction environmental assessment to determine the level of risk posed by a property. Nordman Cormany Hair & Compton LLP has considerable expertise in advising its lender clients in environmental assessments and in taking steps to minimize lender liability.
Our attorneys work closely with clients in complying with both state and federal securities and reporting requirements. The firm has successfully handled mergers, branch acquisitions and sales, SEC initial registration and annual reporting (proxies, annual reports and Form 10, 10-K, 10-Q, 8-K). In addition, the firm is general counsel to a public company reported on the New York Stock Exchange and has acted as general counsel in its initial public offering.