Debtor Payment Demands Can Deliver Without Bankruptcy
By Patrick McCutcheon, Vice President, Umpqua Bank & Tara Schleicher, Principal, Foster Garvey PC
Sometimes events of default occur that motivate a bank to seek an exit of the credit, such as changes in upper management, litigation that distracts the business, assertion of lender liability claims, and material financial reporting issues—not to mention payment defaults. When events like these...
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Patrick McCutcheon is a senior commercial workout officer for Umpqua Bank. He has 25 years of commercial banking experience and 15 years working experience working as a commercial workout officer. McCutcheon specializes in working with medium-sized commercial and agricultural borrower credit workout management. He has expertise evaluating strategic plans of underperforming borrowers to develop and implement workout strategies to mitigate loss potential, restructure debt, or rehabilitate credit performance.
Tara J. Schleicher is a shareholder and chair of the creditors right/bankruptcy group at Foster Garvey PC in Portland, Oregon, and Seattle. She has more than 25 years of experience in representing parties addressing insolvency-related matters in all forums in which debtor-creditor issues arise, whether out of court, bankruptcy court, state and federal court, or appellate court. Schleicher has been recognized by Chambers USA (Oregon) as a Leading Individual in General Commercial Litigation and by both Chambers USA (Oregon) and Chambers USA (Washington) as a Leading Individual in Bankruptcy/Restructuring.