Real Property and Financial Services Board Meeting to follow at 1:00 p.m. at the HSBA conference room
Update: What is happening with Hotel & Resort Debt in Hawaii?
2008 was supposed to have marked the end of both (i) cheap and readily available credit, and (ii) cash-flows to service such debt. Yet, despite billions in debt on Hawaii resorts and hotels having come due (or now coming due), there have been relatively few lender enforcement actions and ownership transfers. This update will explore the legal, financial and structural issues driving current strategies for deleveraging, restructuring and enforcing non-performing hotel and resort debt in Hawaii. Perspectives of lenders, borrowers and investors will be discussed.
Barry Sullivan’s background
Barry A. Sullivan is the managing partner at Bickerton Lee Dang & Sullivan, LLP, a Honolulu-based firm with practice groups in real estate, business and finance and general litigation. Since 2005, Mr. Sullivan and his team have been lead counsel on over $1 Billion in hotel, resort and commercial transactions in Hawaii. His team currently represents lenders and borrowers on approximately $3 Billion in hotel, resort and commercial debt, the majority of which is securitized. Mr. Sullivan also is foreclosure counsel for hotels and resorts on Maui and the island of Hawaii.
|Fri Oct 15, 2010|
|12 p.m. - 1 p.m.; HSBA Conference Room, 1100 Alakea Street, 10th Floor (map)|