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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 4 – Assignment of Rents Under Section 697.07, Florida Statutes

Jimerson Firm

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. This article explores Section 697.07, Florida Statutes, which governs the assignment of rents. Losing the Right to Collect Rents: Junior Foreclosure Sales.

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Burr & Forman Names Eight New Partners Across Five Offices

Burr Forman

From Burr & Forman’s Jacksonville office: Armando Nozzolillo is a member of the firm’s CreditorsRights and Bankruptcy practice group. For more than a century, Burr & Forman LLP’s experienced legal team has served clients at the intersection of business and government. About Burr & Forman LLP.

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Lenders Beware: Make Sure Your Borrower’s Organizational Documents’ Blocking Director Provisions Comply With State Law

The Creditors Rights

Many lenders attempt to render their borrower bankruptcy remote by requiring the borrower to have on its board a director, known as a “blocking director,” whose consent is required for any bankruptcy filing. If they don’t, a lack of the blocking director’s consent may not prevent the borrower from filing bankruptcy. 899 (Bankr.

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