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Lauren Newman

Partner

Chicago
312 580 2328 direct

Lauren is a strategic, proactive bankruptcy attorney and litigator who fights for lenders and creditors of all kinds. She has achieved successful outcomes for clients in bankruptcies, creditor's rights litigation, foreclosures, and out-of-court loan workouts.

Drawing on her 30 years of experience representing lenders facing all types of bankruptcy and business insolvency problems, Lauren works collaboratively with workout officers to develop creative solutions that achieve the best possible recovery of a troubled loan. Her practical, problem-solving approach has frequently resulted in the complete recovery of loans — and the payment by the borrower of all attorneys' fees.

Lauren also serves as a strategic partner and counselor to trade creditors, lessors, private equity firms and other entities affected by the bankruptcy of customers, tenants or borrowers. She advocates for creditors in bankruptcies of all types and sizes, including in claim disputes, contested confirmation hearings, automatic stay litigation and the defense of preference actions, and negotiates the use of cash collateral.

By focusing on how to achieve the best possible recovery in a thoughtful, practical and efficient manner, Lauren helps all types of lenders and creditors pursue creditors' rights alternatives involving distressed businesses. She leads out-of-court workouts, negotiates and structures forebearance agreements, and guides clients through all aspects of collateral disposition and public and private sales of assets on behalf of lenders. But, unlike many bankruptcy attorneys, Lauren has significant in-court experience, including mortgage foreclosures and loan enforcement actions. Because she can seamlessly represent clients in any litigation needed to contest or enforce a claim, she negotiates from a position of strength. If litigation is necessary, Lauren looks for the strategy that achieves the client's end goal in the most expedient and cost-effective way possible.

Loan recovery

Secured the payment in full of a $7 million defaulted loan for a major national bank. Forebearance agreements included obtaining additional collateral to secure the loan. As the borrower cycled through multiple attorneys, Lauren worked together with the bank's special assets loan officer to achieve a resolution that forced the borrower to sell certain assets that resulted in the paydown of the large outstanding loan (2015).

Represented a bank in a workout involving a $16.6 million dollar secured debt on an insolvent shipping company, which resulted in the successful sale of the bank's debt.

In litigating a bank client's objection to a tool-and-die cast company's proposed Plan of Reorganization, Lauren obtained payment in full for the bank through the sale of the debtor's assets.

Strategic counsel to trade creditors

Primary counsel to one of the country's largest restaurant supply companies, offering advice on multiple restaurant bankruptcies, including some national chains, and pursuing claims as a trade creditor, including obtaining "critical vendor" status and defending preference actions.

Defended numerous preference actions on behalf of creditors of all types, frequently obtaining low-dollar settlements.

Bankruptcy experience  

Experience in automatic stay litigation, and objections to claims and confirmation litigation on behalf of lenders, equipment lessors, trade creditors and mortgage lenders.

Numerous secured lender representations throughout the Chapter 11 process, including cash collateral and plan negotiations.

Successfully defended an objection to a claim based on a $1 million mechanic's lien. On appeal, a district court agreed that federal law did not preempt state law lien rights on federal construction projects.

Other experience

Representation of lenders in resolving numerous distressed real estate loans, including mortgage foreclosure actions and real estate loan workouts. Extensive experience with forebearance agreements and structured settlements, including receiver sales.

Publications

"How the World Has Changed: Troubled Mortgage Loans Prior to Acceleration";
Practicing Law Institute, Commercial Real Estate Financing 2009, March 2009

"Troubled Loans, Workouts, and Enforcement Strategies";
Practicing Law Institute, Commercial Real Estate Financing 2008, March 2008

"Before You Pull the Trigger: Strategies for Loan Workouts";
Practicing Law Institute, Ninth Annual Commercial Real Estate Institute, March 2007

"Insider and Affiliate Guarantees Under Preference and Fraudulent Transfer Laws";
Minnesota Institute of Legal Education: Financial Institutions Law, 1990

Presentations

"Practical Solutions to Defaults: A Basic Guide to Workouts, Remedies and Enforcement";
Equipment Leasing Financing Association Legal Forum, May 2008

"Litigation Skills-Consumer: Valuation, Evidence, Burden of Proof";
American Bankruptcy Institute, 14th Annual Central States Bankruptcy Workshop, June 2007

"Bankruptcy: A Comprehensive Updated Study of Bankruptcy Materials and Legal Information";
National Association of Credit Managers - Midwest, Three-Part Seminar, March & April 2007

"Dealing with Distressed Companies";
Institute of Management Education, Audio Conference, May 2006