Lehman Brothers Holdings Inc.’s September 15, 2008 bankruptcy was an event of default under thousands of derivatives contracts to which a Lehman entity was a party and for which Lehman Brothers Holdings was the guarantor. This default entitled the vast majority of Lehman’s counterparties to terminate these contracts, and almost all were terminated.
USA, Derivatives, Insolvency & Restructuring, Hunton Andrews Kurth LLP, Bankruptcy, Surety, Debtor, Swap (finance), Credit risk, Liquidation, Default (finance), Collateralized debt obligation, Subsidiary, Credit default swap, Lehman Brothers, Title 11 of the US Code, United States bankruptcy court
There are hundreds of hotel properties in special servicing or foreclosure and even more that are on the brink. When dealing with a distressed hotel property, there are several issues and opportunities to consider.
Receivership
USA, Banking, Insolvency & Restructuring, Leisure & Tourism, Hunton Andrews Kurth LLP, Bankruptcy, Debtor, Security (finance), Brand, Debt, Mortgage loan, Foreclosure, Deed, Franchise agreement, Default (finance), Commercial mortgage-backed security