Financial Rights, Remedies & Defenses

Financial Rights, Remedies & Defenses

Overview

Cox, Castle & Nicholson has extensive experience with respect to a secured creditor's rights and a debtor's defenses under Article 9 of the Uniform Commercial Code, as well as nonjudicial remedies such as lenders' enforcement under the Assignment of Rents legislation codified in 2938 of the California Civil Code.    

Creditors/Lenders

Often employed in conjunction with or as an alternative to foreclosure, lenders have a wide variety of remedies. We are experienced in assisting lenders in these remedies, such as (i) conducting "commercially reasonable" private foreclosure sales under Uniform Commercial Code, (ii) putting account debtors on notice, (iii) conducting "commercially reasonable" public foreclosure sales under Uniform Commercial Code, and (iv) accepting title to personal property collateral in full or partial satisfaction of the debt. We are also experienced in the real property context with putting tenants on notice with respect to an assignment of rents.

Borrowers

Our extensive lending experience also has enabled the firm to assist borrowers so that they receive the full benefit of the law. We have extensive experience representing borrowers in challenging a lender's actions as either not being in compliance with the requirements of the Uniform Commercial Code or not being "commercially reasonable." We also have extensive experience in representing guarantors to minimize their potential liability.

Representative
Matters

Represented lenders in conducting public and private Uniform Commercial Code foreclosure sales of a debtor's equipment, inventory, accounts receivable membership interests in a limited liability company and a judgment.

Represented borrowers with respect to the commercial reasonableness of a foreclosure sale under the Uniform Commercial Code and the lender's compliance with the notice provisions thereof.

Represented lenders in putting account debtors on notice and in foreclosing on pledged bank accounts.

Represented a receiver in one of the largest receiverships in Los Angeles, involving a high profile commercial property.

Advised clients regarding the non-judicial trustee's sale process and review and revise, if necessary, the notices and related paperwork prepared by the foreclosure trustees.

Represented a bank in defending against a complex unfair business practices action based on loans that the bank unwittingly purchased from a leasing company operating a Ponzi scheme.

Represented numerous banks in actions to obtain the appointment of receivers for real and personal property collateral.

Successfully defended against a borrower trying to stop a foreclosure of a partially completed restaurant by a bank.

Represented a lender in a complex series of consolidated cases involving a real estate investment ponzi scheme.

Handled numerous workouts of failed loans both from the lender and borrower perspectives.

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Defended a homebuilder client and its principal in litigation brought by lender to recover on guaranties and obtain a prejudgment writ of attachment pending trial.

Attorneys &
Paralegals

Name Title City Phone  
Davis, Susan S. Senior Counsel Los Angeles 310.284.2282
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Dreyfus, Caroline W. Partner Los Angeles 310.284.2207
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Galuppo, Lynn T. Senior Counsel Orange County 949.260.4641
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Hamidi, Ali P. Partner San Francisco 415.262.5106
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Kitchen, Jonathan S. Partner San Francisco 415.262.5168
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Kranz, Frederick H. Partner Orange County 949.260.4626
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Mocciaro, Perry D. Partner Los Angeles 310.284.2234
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Orlik, Randy P. Partner Los Angeles 310.284.2229
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Purvis, James M. Associate San Francisco 415.263.5514
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Quigley, Edward F. Partner Los Angeles 310.284.2271
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Sullivan, Mark B. Senior Paralegal Los Angeles 310.284.2296
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Vaz, Alicia N. Partner Los Angeles 310.284.2273
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Waldman, Ira J. Partner Los Angeles 310.284.2244
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Weissburg, Adam B. Partner Los Angeles 310.284.2270
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Spotlight

Three Cox, Castle & Nicholson Attorneys Featured In LABJ

Gary Glick, Adam Weissburg, and Amy Wells were selected to be featured in the Los Angeles Business Journal's 2013 "Who... More»