Jeffrey B. Steiner

May 20, 2009 | New York Law Journal

Jeffrey B. Steiner, a member of DLA Piper, and Zachary Samton, counsel to the firm, examine the use of a friendly-foreclosure alternative that some lenders are employing to take control of defaulted properties during the pendency of a foreclosure. The friendly-foreclosure route combines elements of both standard foreclosure and deed-in-lieu of foreclosure transactions and thereby offers lenders a good option for taking ownership of real property collateral burdened with subordinate mechanic's liens, subordinate mortgages or other impediments to title.

By Jeffrey B. Steiner and Zachary Samton

11 minute read

January 21, 2009 | New York Law Journal

Jeffrey B. Steiner, a member of DLA Piper, and Zachary Samton, counsel to the firm, write that as the process and results of mezzanine foreclosure in sophisticated and highly-tranched debt structures differ significantly from standard mortgage remedies, a mezzanine lender and its counsel must recognize the potential pitfalls thereof before exercising its remedies.

By Jeffrey B. Steiner and Zachary Samton

12 minute read

March 27, 2006 | The Recorder

Recent court cases address loan prepayment fees.

By Kenneth M. Block and Jeffrey B. Steiner

8 minute read

September 19, 2007 | New York Law Journal

Jeffrey B. Steiner and Gerard S. Catalanello, members of Thelen Reid Brown Raysman & Steiner, write that certain amendments to the Bankruptcy Code implemented by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 received little notice, but one such change made to Section 365(f)(1), a section commonly utilized by debtor/tenants to invalidate anti-assignment provisions contained in commercial leases, could have wide ranging impact in retail bankruptcy cases.

By Jeffrey B. Steiner and Gerard S. Catalanello

9 minute read

November 21, 2007 | New York Law Journal

Jeffrey B. Steiner and Gerard S. Catalanello, members of Thelen Reid Brown Raysman & Steiner, write that provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 were drafted to resolve a judicial split regarding a debtor's obligation to cure nonmonetary defaults prior to assumption and assignment of unexpired leases and other executory contracts in a bankruptcy case.

By Jeffrey B. Steiner and Gerard S. Catalanello

11 minute read

September 16, 2009 | New York Law Journal

Jeffrey B. Steiner, a member of DLA Piper LLP (US), and Zachary Samton, counsel to the firm, write that given the increased complexity of financing arrangements in recent years, lenders who participate in multiparty lending agreements are well advised to carefully consider the potential impact of a bankruptcy of a co-lender. As the caselaw shows, they warn, there are risks for both senior and junior lenders should another co-lender file for bankruptcy.

By Jeffrey B. Steiner and Zachary Samton

13 minute read

March 17, 2010 | New York Law Journal

Jeffrey B. Steiner, a member of DLA Piper LLP (US), and Zachary Samton, counsel at the firm, write: As the frozen credit environment slowly begins to thaw, thoughts in the real estate finance world turn to newly issued loan commitments and term sheets. Since many potentially active mortgage lenders have not issued a commitment letter or term sheet for several years or are newly formed companies founded since the inception of the credit crisis, counsel representing such lenders should be mindful of certain pitfalls associated with such preliminary documentation, including the potentially binding nature thereof.

By Jeffrey B. Steiner and Zachary Samton

11 minute read

January 19, 2011 | New York Law Journal

Jeffrey B. Steiner and Zachary Samton of DLA Piper write that with judges throughout the country making it clear they have little patience for sloppy paperwork forming the basis for a lender's action, attorneys must pay closer attention than ever to even small details in their agreements, such as the date of a document.

By Jeffrey B. Steiner and Zachary Samton

12 minute read

March 19, 2008 | New York Law Journal

Jeffrey B. Steiner, a member of Thelen Reid Brown Raysman & Steiner, and Zachary Samton, counsel to the firm, write that from the perspective of either a borrower or lender, non-recourse carve-out guarantees should be carefully reviewed and analyzed when a commercial mortgage loan goes bad.

By Jeffrey B. Steiner and Zachary Samton

11 minute read

July 20, 2011 | New York Law Journal

Jeffrey B. Steiner, a member of DLA Piper, and Zachary Samton, counsel to the firm, write: Although the enforceability of intercreditor agreements in both bankruptcy and non-bankruptcy proceedings has generally been affirmed by the courts and state legislatures, there is no body of well developed case law governing conflicts between mezzanine and mortgage lenders, rather it is a developing area trying to find a reliable direction.

By Jeffrey B. Steiner and Zachary Samton

11 minute read