News & Events

News & Events

8.31.2010

Leaverton Quoted in PSBJ Article on Loan Workouts

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In the August 20 issue of Puget Sound Business Journal (“PSBJ”), Lane Powell Shareholder Bruce Leaverton was quoted in an article titled “Workouts on the Rise.”  The article — which details the popularity of “working out” bad debts instead of resorting to bankruptcies and foreclosures — emphasizes the complexity of such deals.

“It’s like a conductor looking for a flute player,” remarked Leaverton, likening the deals to putting together an orchestra.  “Everyone should have a Rolodex replete with these people,” he continued, referring to property managers.  “The challenge in most cases is there is not a lot of cash flow to support a lot of restructuring.”