Mitchell L Berg

May 08, 2013 | New York Law Journal

In their Transactional Real Estate column, Mitchell L. Berg and Peter E. Fisch, partners at Paul, Weiss, Rifkind, Wharton & Garrison, write that most courts apply a "business judgment" test to a debtor's decision to reject an executory contract whereby, in order to obtain court approval, a debtor must demonstrate that in the "best 'business judgment'" of the debtor, it would be "beneficial . . . to the estate" to reject the contract.

By Mitchell L. Berg and Peter E. Fisch

12 minute read

July 10, 2013 | New York Law Journal

In his Transactional Real Estate column, Paul, Weiss, Rifkind, Wharton & Garrison partners Mitchell L. Berg and Peter E. Fisch write that control in a real estate joint venture can range from total control by one member to an even split where all decisions must be agreed on by the venturers. Even at the extreme ends of this continuum, however, without a detailed definition of control, there can be uncertainty as to who controls an entity for purposes of a provision restricting assignment.

By Mitchell L. Berg and Peter E. Fisch

10 minute read

October 16, 2013 | New York Law Journal

In their Transactional Real Estate column, Mitchell L. Berg, Peter E. Fisch and Manuel E. Lauredo of Paul, Weiss, Rifkind, Wharton & Garrison discuss non-recourse carveout guaranties in commercial real estate loans, advising that special attention be paid to the drafting of net worth and liquidity provisions in non-recourse carveout guaranties to ensure that each party's objectives are achieved.

By Mitchell L. Berg, Peter E. Fisch, Manuel E. Lauredo

11 minute read

February 15, 2012 | New York Law Journal

In their Transactional Real Estate column, Mitchell L. Berg and Peter E. Fisch, partners at Paul, Weiss, Rifkind, Wharton & Garrison, write that recent court decisions should serve as a caution to borrowers and guarantors to carefully scrutinize the exceptions to the non-recourse nature of their loans.

By Mitchell L. Berg and Peter E. Fisch

14 minute read

May 31, 2006 | New York Law Journal

Mitchell L. Berg and Peter E. Fisch, partners at Paul, Weiss, Rifkind, Wharton & Garrison, analyze issues including the ability of fund sponsors to make investments outside the fund or to form competing funds, the co-investment rights of limited partners, "key person" remedies which apply if key investment professionals are no longer involved in the management of the fund, and removal rights with respect to the general partner.

By Mitchell L. Berg and Peter E. Fisch

11 minute read

January 14, 2009 | New York Law Journal

Mitchell L. Berg and Harris B. Freidus, partners at Paul, Weiss, Rifkind, Wharton & Garrison, write that while Article 9 provides many benefits to a mezzanine lender foreclosing upon its collateral, Article 9 also offers the mezzanine borrower significant protections against a mezzanine lender's noncompliance with the requirements of Article 9. By understanding the various rights and remedies afforded to it under Article 9, they say, a mezzanine borrower will be better prepared to protect itself in the event its mezzanine lender declares a default under the mezzanine loan and proceeds with a disposition of its equity interests under Article 9.

By Mitchell L. Berg and Harris B. Freidus

13 minute read

January 08, 2002 | New York Law Journal

N IMPORTANT consideration in forming any real estate joint venture is the ability of the joint venture partners 1 to exit their respective investments. The identity of the joint venture participants and what each contributes to the joint venture are critical to its success. As a result, many joint venture agreements limit or prohibit transfers of interests by partners, and where transfers are permitted, a non-exiting partner will often seek to control the identity of any new co-venturer, particularly in a s

By Mitchell L. Berg And Peter E. Fisch

14 minute read

April 29, 2009 | New York Law Journal

Mitchell L. Berg and Peter E. Fisch, partners at Paul, Weiss, Rifkind, Wharton & Garrison, untangle the latest serving of governmental alphabet soup and outline the principal terms of Term Asset-Backed Securities Loan Facility ("TALF"), as it will ultimately relate to certain residential mortgage-backed securities ("RMBS") and commercial mortgage-backed securities ("CMBS"), and the Public-Private Investment Program ("PPIP").

By Mitchell L. Berg and Peter E. Fisch

13 minute read

May 14, 2008 | New York Law Journal

Mitchell L. Berg, a partner at Paul, Weiss, Rifkind, Wharton & Garrison, and Jesse L. Meshkov, an associate at the firm, write that with the reduced availability of credit, the tightening of lending standards and the downturn in the financial industry and the economy generally, the stage is set for an increased number of real estate loan defaults, foreclosures and workouts. It is thus an opportune time, they say, to reexamine the state of the law on lender liability . . .

By Mitchell L. Berg and Jesse L. Meshkov

16 minute read

June 29, 2011 | New York Law Journal

In their Commercial Loans column, Mitchell L. Berg and Peter E. Fisch, partners at Paul, Weiss, Rifkind, Wharton & Garrison, write that recent activity in the real estate markets has consisted in large part of the sale and acquisition of commercial mortgages and mezzanine loans. They offer practitioners guidance on performing due diligence in such transactions, where circumstances often require that deals close in just days.

By Mitchell L. Berg and Peter E. Fisch

11 minute read