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Commercial Foreclosures and Lender Liability

During the current economic climate, lenders and borrowers require capable legal representation to enforce loan agreements, defend against unfair and deceptive lending practices, and work out suitable solutions to complex lending relationships. The lawyers at Hurwitz, Sagarin, Slossberg & Knuff, LLC have represented national and community lending institutions in pursuing foreclosure actions in sophisticated commercial transactions, as well as businesses and individuals in defending against such actions, and have experience working through primary construction and secondary mezzanine financing, enforcing and defending against claimed recourse obligations, and representing parties to personal guarantees. HSSK is skilled in pursuing a broad range of available remedies, whether they involve pursuing express loan obligations, raising equitable defenses to loan obligations, addressing lender liability theories under the common law and the Connecticut Unfair Trade Practices Act ("CUTPA"), pursuing status quo injunctions, including implementation of lock box arrangements, or applications for appointment of receivers.

Matters in which attorneys at HSSK have represented parties in commercial foreclosure actions include:

  • Represented national lender in enforcement of loan documents and personal guarantees in $180 million foreclosure of primary and mezzanine lending for construction of luxury condominiums in Stamford, Connecticut.
  • Represented national lender in foreclosure on commercial loan involving hotel in Meriden, Connecticut.
  • Represented property management company in obtaining status quo injunction to prevent removal as property manager of foreclosed premises.
  • Represented local developer in successful action against national lender resulting in Judgment of $465,000 for misrepresentation by the lender that it would extend and amend terms of existing construction financing, only to break that promise after the owner had invested another $500,000 in the property in reliance on these misrepresentations.
  • Represented individual concerning claim against him for $345 million arising from personal guarantee of loan obligations involving the Westin Aruba Hotel.
  • Represented property owner in lender liability action involving misleading and inequitable conduct by special servicer of commercial loan.
  • Represented bank in defending substantial lender liability claims.
  • Represented non-profit business misled into entering into SWAP Agreement without proper authority or explanation of its punitive terms.
  • Represented founder of Starter Corporation in lender liability action against Bank Boston for breach of agreement and misrepresentation.

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147 North Broad Street
P.O. Box 112
Milford, Connecticut 06460
203-877-8000
203-878-9800-FAX
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