ABF Journal
November/December 2009 Issue

Vol. 7, No. 8
Sign of the Times…

Retailers & Developers Face An Uncertain Future


A Look Back: 2009 Retail Real Estate… And a Glimpse At What May Be in Store for 2010
By Spence Mehl, RCS Real Estate Advisors

For retailers, landlords and developers, the punch line to the old joke about the light at the end of the tunnel being a train is hitting a bit too close to home these days. As tough as 2009 has been on retailers, a strong recovery might not be quite as close at hand as some predicted. (Ref #CFR001)

Equipment Leasing & Finance: A Look at the Top 50 Providers Domiciled in the U.S.

Equipment leasing and finance has long enjoyed a unique position in the world of commercial finance. ABF Journal’s sister publication, the Monitor, delivers an annual report that dimensions the size of this industry and includes a ranking of the top 100 equipment leasing and finance companies in the U.S. (Ref #CFR002)

The American Furniture Industry: What Will It Take to Survive?
An Anderson Bauman Tourtellot Vos Watch Report

The purpose of this white paper, presented by Anderson Bauman Tourtellot Vos in an amended format, is to get a “good fix” on the current state of the U.S. furniture industry and to project some semblance of what might be expected in the future. The industry is obviously going through a transformation, but the emerging form is not so easy to envisage. (Ref #TM099)



Profile of Success

Keltic Financial Sticks to What It Knows & Continues to Thrive
By Amanda L. Gutshall, Associate Editor

Jack Reilly, president & CEO of Keltic Financial Services, believes you need a strong foundation to support growth and manage a company through volatile economic cycles. In fact, when he co-founded Keltic Financial in 1999, he ensured his company hired professionals who not only understood that it’s important to close deals, but that it’s also critical to build strong back office capabilities to manage risk and meet customer needs. (Ref #EXEC071)

Turnaround Corner

Staging a Successful Restructuring in Today’s Economy
By Richard A. Heller, Carl Marks Advisory Group

Throughout this recession, emotions have played a critical role in many aspects of the economy, such as consumer confidence and stock market swings. Leading a successful restructuring can be no different today in many regards.
(Ref #TM100)

Factoring Focus

Real Estate Construction Factoring Pitfalls You Can Avoid
By Michael W. Ullman, Esq.

Real estate construction factoring is not only possible, it can be rewarding as well. The following article is a concise outline of the major differences between the real estate construction business niche and other areas of factoring. (Ref #FAC091)

Bankruptcy Update

Part II of II: The World of Loan-to-Own & Credit Bidding
By Jean R. Robertson and Jeffrey T. Cicarella, Calfee, Halter & Griswald, LLP

In this installment, we look at the courts’ treatment of arguments in opposition to the loan-to-own strategy. Part I, which was featured in our Annual Conference Issue discussed the often controversial strategy of loan-to-own investments as well as the credit bidding process. Here Jean Robertson and Jeffrey Cicarella focus on four court decisions and how they oppose this strategy. (Ref #BANK029)

Legal Eyes

Will the Real Holder of this Mortgage Please Stand Up?
By Jessie Kempf, Freelance Writer

In the morass of loan agreements, mortgages, notes and TIC trustee agreements created by increasingly complex loan transactions, it can be nearly impossible to figure out who owns what when things go wrong. While the problem is far too complex to tackle in a single article, Jesse Kempf provides an overview of why banks are having a hard time foreclosing on delinquent loans, particularly when MERS and securitized mortgages are involved. (Ref #LGL103)