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Representative Cases and Matters for Joseph P. Harrington

Commercial Finance – Secured Lending - Multi-State Financing

Representation of Private Banking Client, as Lender, in a $18.8 Million Multi-State Secured Financing

Our commercial finance lawyers sometimes represent banks in transactions involving multiple parcels in multiple states. In one such transaction, Joe Harrington and Michelle Santoro represented one of the firm’s private lending clients on a multi-loan transaction, totaling $18.8 million, secured by four parcels in 3 states.


Commercial Finance - Corporate & General Business - Successful Restructure of Corporate Debt

Representation of Banking Client in Successful Restructure of Corporate Debt

Our Commercial Finance & Corporate lawyers often work together to assist our banking and other clients. Here, Joseph P. Harrington and Milton R. Gleit represented one of our banking clients in restructuring a defaulted corporate loan. As part of their work, Joe and Milt negotiated and documented the bifurcation and restructure of a series of defaulted term loans. The creative outcome was that fifty percent of the total debt was consolidated into a single new term loan; and the remaining fifty percent was converted into a preferred equity position in the restructured borrower.


Commercial Finance – Real Estate Transactions - Construction Loan for Mixed Use Shopping Center

Commercial Finance – Real Estate Transactions - $21 Million Construction Loan for Development of Mixed Use Shopping Center

McCarthy Fingar’s Commercial Finance lawyers often represent our lending clients in commercial Real Estate Transactions. Here, Joseph P. Harrington represented the lender on a $21 million dollar construction loan for the development of a mixed use shopping center with a national supermarket as the anchor tenant under a long term lease. 


Commercial FinanceReal Estate Transactions - Successful Work-Out/Restructure of Defaulted Mortgage Loan

Negotiation & Documentation of Work-Out/Restructure of Defaulted Mortgage Loan for Banking Client

In addition to closing commercial loan transactions for our banking clients, our Commercial Finance & Real Estate Transactions lawyers sometimes assist clients on the work-out and/or restructuring of a problem loan. On behalf of one of the firm’s banking clients, Joe Harrington successfully negotiated and documented the restructure of a defaulted loan secured by a first mortgage on an office building, thereby enabling the client to convert the defaulted loan into a performing asset.


Commercial Finance – Commercial Foreclosure 

Representation of a Private Lending Client, as Lender on a Defaulted loan

Our commercial finance lawyers sometimes represent private lenders in foreclosure actions. Here, Michelle L. Santoro represented one of the firm’s private lending clients on a defaulted commercial mortgage, successfully obtaining a final judgment of foreclosure and sale. The property was later acquired by the lender and a private sale took place.


Commercial Finance – Successful Work-Out/Modification of Defaulted Mortgage Loans

Commercial foreclosure, then Negotiation & Documentation of Work-Out/Modification of a Defaulted Mortgage Loans for private lender

 

In addition to closing commercial loan transactions for its banking clients, the firm from time to time assists those clients and private lenders with commercial foreclosures, which sometimes leads to the work-out and/or modification of a problem loan. On behalf of one of the private lending clients, Michelle L. Santoro, with the assistance of Joseph P. Harrington, successfully obtained a final judgment of foreclosure and sale; however, on the eve of the scheduled sale, negotiated and documented a settlement and modification of the defaulted loans, to be secured by a first mortgage on a community center, thereby enabling the client to convert the defaulted loans into a performing asset.

 


Commercial Finance – Syndicated Secured Lending Transaction

Representation of Banking Client, as Lender & Administrative Agent, in $90 Million Multi-Bank Secured Financing

Our commercial finance lawyers often represent banks in transactions involving multiple banks. In one such transaction, Joseph P. Harrington represented one of the firm’s banking clients on a $90 million secured financing in which the firm’s client was the lead lender and acted as Administrative Agent for the transaction.