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Recent Changes To Anti-Deficiency Statutes

Recent Changes To Anti-Deficiency Statutes

In July 2013, Governor Jerry Brown signed into law Senate Bill 426, which amends and broadens anti-deficiency protections of California Code Of Civil Procedure § 580b and 580d. In its existing form, CCP 580b prohibits a deficiency judgment following any nonjudicial foreclosure under a deed of trust securing either (1) a purchase money loan, (2) the refinancing of a purchase money loan with no advances of principal, or (3) a seller-financed loan. While prohibiting entry of a deficiency judgment, CCP 580b in its current form does not Continue reading →

Preservation Of Real Property

We had the privilege of representing an LLC and several of its members in a civil action filed by other LLC members who sought to dissolve the LLC and force the sale of over ten pieces of commercial and residential real property located in the Bay Area. In this heavily litigated matter involving numerous depositions and several motions and court hearings, we were able to reach a favorable settlement following mediation wherein we were able to preserve the existence of the LLC for our clients and preserve the majority of the real property for the LLC.

Appointment Of Receiver

Our firm represented a large financial institution in a multi-million dollar commercial foreclosure action involving a senior assisted-living facility in Alameda County, which was occupied by over sixty (60) residents. We successfully obtained an ex parte order for appointment of a receiver to analyze the financial condition of the business, ascertain the welfare of the residents and investigate code violations which facilitated the continued operation of the facility and successful negotiation of a short sale of the property on favorable terms for our client.

Mechanics Lien Litigation

Our firm successfully represented a major Northern California construction equipment dealer in a complex mechanic’s lien priority dispute following the failure of a multi-million dollar golf course project in Central California. With over fifty competing mechanic’s lien claims and with litigation spanning the course of several years and complicated by the bankruptcy of a major financial institution involved in the project, our firm successfully negotiated a highly favorable monetary settlement for our client.