Partner Cliff Risman was quoted in a Skift article, “What Happens When a Massive Wave of Hotels Default?” about the large number of U.S. hotel owners at risk of defaulting on their mortgages due to the coronavirus pandemic.
Risman questioned how many hotel foreclosures will actually materialize because of the high volume that would occur if banks or commercial loan servicers played hardball. “I think a lot of the lenders learned some very good lessons in the last downturn,” he said. “If the lender could foreclose and change a flag or management company and operate better or differently, yeah they would. But this is a problem that changing a flag and management company isn’t going to fix.”
People
Related News
20 September 2024
In the News
David Rosen Featured for Insight on Looming FDA Final Rule for Cosmetic Manufacturing
Foley & Lardner LLP partner David Rosen is featured by CosmeticsDesign for his insights on the U.S. Food and Drug Administration's final rule establishing Good Manufacturing Practices for the cosmetics industry in the article, "Preparing for MoCRA’s 2025 cGMP deadline: What cosmetic manufacturers and suppliers need to know."
19 September 2024
In the News
Patrick Daugherty on UChicago's Desk Reference for Crypto, Web3 – 'This is very much for lawyers'
Foley & Lardner LLP partner Patrick Daugherty commented on the University of Chicago Law School's recently released open-access legal desk reference on crypto and Web3 matters in the Law.com article, "UChicago Law Professors Release Desk Reference Breaking Down Crypto, Web 3 for Attorneys."
18 September 2024
In the News
Eli Mazour Talks Patents on IPWatchdog Unleashed Podcast
Foley & Lardner of counsel Eli Mazour appeared on the IPWatchdog Unleashed podcast episode, "Problems, Solutions and the Case for Patents," to discuss patents and innovation, the Federal Circuit, the value of patents to clients, and patent strategy.