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Lawyers Advise Developers to Talk to Bankers

TAMPA, FL-Holland & Knight real estate attorneys say bankruptcy can be avoided.

By Carl Cronan | Updated on September 25, 2008

(Carl Cronan is editor of Real Estate Florida.)

TAMPA, FL-Banks are willing to work with commercial real estate developers on projects before trouble arises, and bankruptcy should not be part of the equation for either side. That’s the opinion of lawyers with Holland & Knight LLP, which discussed options for a down market with both groups during breakfast Thursday at the firm’s local headquarters.

“Most of the banks are trying to work with people,” says David Singleton, a partner in Holland & Knight’s Tampa office practicing in real estate finance and asset-based lending. Banks are facing increasing pressure from federal regulators, as well as their own boards of directors, to straighten out problematic projects before they reach the need for bankruptcy protection.

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