Glaser Weil’s Emil Petrossian and Alexander Miller Co-Author ‘Law360’ Article on Updating Commercial Real Estate Lending Agreements
Glaser Weil litigation partner Emil Petrossian and associate Alexander Miller co-authored an article for Law360 titled “Commercial Real Estate Lending Checkup Amid Market Unrest.” In light of today’s economic state of continued inflation, high interest rates and an unstable lending market, the litigators share insights regarding how lending institutions that take a moment to revisit and review their commercial real estate agreements today may benefit from significant litigation advantages tomorrow.
Petrossian and Miller stressed the importance of four key considerations every lending institution should keep in mind when conducting such a review:
- Confirm that your default provisions are enforceable.
- Ensure that your fee provisions are both specific and broad.
- Include a release of liability when entering into loan modifications or new loan agreements.
- Review the sufficiency of your arbitration agreements.
Regarding arbitration agreements, they note that “the rules surrounding the scope and enforceability of arbitration provisions are continuously evolving,” and they highlight various recent examples where courts have interpreted arbitration provisions in unanticipated ways.
Petrossian has extensive first-chair experience litigating high-stakes commercial disputes for major businesses throughout the country. In addition to having significant jury trial experience in both state and federal courts, he has handled numerous arbitrations. Miller’s practice encompasses all aspects of litigation—including complex commercial, trade secret, employment, class action and post-acquisition disputes—in state, federal and arbitral forums.