Banking & Financial Services
Lindabury provides a wide array of legal services to banks, credit unions, and other financial service institutions companies and their customers. We represent lenders and borrowers in transactions that range from the routine to the highly specialized, actively engaging in the structuring, negotiation, documentation, closing, restructuring and, if necessary, "work-out" of a wide variety of credit facilities. In all transactions, we emphasize active participation with the client in structuring the credit in order to minimize potential legal risk.
The firm also provides litigation services arising out of secured credit transactions. Such matters include collections, foreclosure actions, bankruptcy and litigation involving estates in which a financial institution serves as a corporate fiduciary.
Our clients include large and small banks, insurance companies, and other commercial lenders, such as equipment lessors and credit unions, including the largest credit union in New Jersey, for which we are general counsel. We also provide the full scope of transactional legal services to clients as borrowers, notably in the manufacturing, transportation, real estate and health care industries.
Types of Lending Transactions The following are some of the types of lending transactions in which we represent lenders or borrowers:
- commercial loans
- mortgage loans
- asset-based facilities
- floor-plan loans
- letters of credit
- maritime loans
- leveraged leases
- leveraged buy-outs
- U.S. Small Business Administration loans
- New Jersey Economic Development Authority and other "Conduit" loans
- New Jersey Health Care Facilities Financing Authority bond issues
- church bonds and other tax-exempt financings
Representative Matters- Represented a hospital system in $755 million FHA/GNMA insured mortgage loan - the largest single transaction in the history of the Federal Housing Administration.
- Provide attorney review and document preparation services for a major mortgage company.
- Represented a bank in its largest residential construction loan - to finance over 400 units.
- Represented a bank in structuring a line of credit facility to enable a charitable organization to purchase "group homes" throughout northern New Jersey. Advances under this facility required compliance with loan-to-value ratio covenants both for individual properties and for all properties owned by the borrower.
- Represented a bank in structuring a line of credit facility for the construction of a fleet of barges.
- Represented a major health care provider in a $68 million senior credit facility.
- Represented a major healthcare provider in financing development of an ambulatory care facility in subleased space in a multi-tenanted office building.
- Represented banks in issuance of letters of credit in connection with numerous New Jersey Health Care Facilities Financing Authority bond issues.
- Represented banks in transactions secured by various types of movable collateral, including motor vehicle fleets, tractor trailers, railroad cars, airplanes, fishing vessels and barges.
- Represented bank in construction loan for mixed use project, where a significant portion of the real estate was subject to a foreclosure proceeding. The transaction was structured using an escrow arrangement, which allowed borrower to close financing and preserve counterclaims, while providing bank and title company with adequate protection.