ROSELAND, N.J./ January 20, 2011 -- Thomas M. Scuderi was featured in the October 2010 issue of New Jersey Lawyer Magazine. The issue focused on Banking and Financial Transactions and included articles written by many of New Jersey’s leading lawyers. The article written by Mr. Scuderi, entitled “Pre-Workout Considerations and Strategies of Borrowers/Lenders,” provides an overview of the pre-workout process and the concerns of the parties.
In the article, Mr. Scuderi focuses on the factors which should be carefully examined and considered when faced with a distressed loan. Included in these considerations are: the due diligence that should be completed by the parties, workout strategies, negotiating and documenting a modification/forbearance, and the available remedies if the workout process breaks down. Mr. Scuderi stresses in the article that only after the parties are armed with adequate information and due diligence, can they “truly appreciate their respective strengths and weaknesses, and be positioned to determine the remedy that will best protect their interests.”
Mr. Scuderi is a member of our Banking Law and Finance practice group, as well as our Corporate and Business Law and Real Estate Law and Land Use practices.
For more information regarding this article or relating to these practice areas, please contact Thomas M. Scuderi at 973-535-0500 or tscuderi@connellfoley.com.