Dearth of Restructurings Baffles Area Attorneys

During this time of high unemployment, increased vacancies in office and retail space, and as commercial property values continue to fall,  it comes as a surprise to many area attorneys that more lenders and developers are not restructuring their existing loan agreements.

“Everyone that I talk to is scratching their heads,” said Craig M. Tateronis, partner and chair of the Real Estate Practice Group at Prince Lobel Glovsky & Tye. “They don’t know what to anticipate in terms of what the banks are doing.”

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