Client Articles - Written by on Thursday, December 2, 2010 16:14

GERSON LAW FIRM APC Charts Coast to Coast Receivership Cases

SAN DIEGO — December 2, 2010 — GERSON LAW FIRM APC obtained a receiver in Palmdale, CA for a multifamily property during the last week of November, according to Gordon L. Gerson, managing principal of GERSON LAW FIRM, a six-lawyer law firm based in San Diego.

GERSON LAW FIRM also coordinated with local counsel in Arizona obtaining orders to have receivers put in place for multifamily properties in Phoenix and Tucson, and also coordinated with local counsel in Nevada to have a receiver put in place on a multifamily property in Las Vegas. GERSON LAW FIRM is also working with local counsel on pending receivership matters in Oregon, Texas, Atlanta and Florida.

“GERSON LAW FIRM has maintained a national practice on loan originations for almost 15 years,” said Gerson. “In this economic cycle, we have continued to represent clients who have trust and confidence in us to manage their receivership litigation and foreclosures not only in California, but other states nationwide, by coordinating with local counsel.”

Gerson said that GERSON LAW FIRM is unique among law firms in that perhaps no other firm of its size in the country has a nationwide practice primarily focused on the needs of financial institutions. GERSON LAW FIRM’s financial institutions practice exceeds that of most national and regional law firms’ offices located on the west coast.

Unique to this economic cycle is the extent to which GERSON LAW FIRM clients are seeking to have their receivers sell mortgaged properties as opposed to attempting to sell at foreclosure sales or as REO post foreclosure. Among reasons, (i) it is faster and more efficient with respect to problem asset disposition, (ii) avoids lenders being in the chain of title and concomitant problems arising, and (iii) avoids the need for lenders to operate the property post foreclosure if there are no buyers at foreclosure sale.

GERSON LAW FIRM APC represents clients on all matters real estate and business related, both transactional and litigation. GERSON LAW FIRM is nationally recognized for its representation of some of the nation’s largest lenders on loan closings, special servicing, and enforcement proceedings throughout the United States. GERSON LAW FIRM’s practice includes representing lenders closing loans under Fannie Mae’s DUS Lending Program and Freddie Mac’s Program Plus for multifamily investments. GERSON LAW FIRM represents major national banks, life insurance companies, and private funds in all matters lending related, including originations and loss mitigation strategies, for hotels, office buildings, shopping centers, multifamily and construction. For more information on GERSON LAW FIRM, call (858) 452-5400 or visit www.gersonlaw.com.

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