We counseled a high-profile architect, and her architecture firm, as defendants in a complex commercial real estate foreclosure action. The lawsuit involves a loan secured by multiple properties and includes claims against several individuals and entities, including our client, which provided both a corporate guaranty through the architecture firm and personal guaranties through its individual principals. The plaintiff alleged various defaults and sought substantial monetary damages, as well as foreclosure and sale of the properties and related assets. As part of a strategic effort to facilitate a comprehensive and cost-effective resolution for all parties involved, we counseled our client not just regarding asserting its own claims for unpaid design fees, and defenses to the claims asserted against it, but also regarding the prospects of and logistics for achieving a negotiated refinancing to avoid protracted litigation. This approach aimed to achieve an early, amicable settlement to around the need for a mortgage foreclosure trial and potential judgment of foreclosure.
