Preliminary Agenda Topics

• What have the majority of your deals looked like in the past 6 months? What is the outlook for 2025? Which asset classes and markets? What are you most worried about ?
• To what degree have you seen real distressed opportunities in the past few months?
• Election effects on CRE market
• How do you expect volume to change in the coming year? Pricing ? Strategies?
• Regulatory changes coming down the pike and impact on business
• Which specific workout remedies are banks currently employing?
• When forbearance does not suffice, what are next steps to achieving a more complex workout?
• By region and sector, what does the outlook for special assets look like?
• How is demand changing for C&I vs. real estate vs. agricultural vs. auto and other loans? How have you adjusted your definition of “distressed” in each of these categories?
• What role does climate risk play in your portfolio management strategy?
• Which new risks will pose the greatest threats to your balance sheet?
• Are you getting personal guarantees?
• When a simple loan extension does not suffice, what are next steps to achieving a more comprehensive resolution? What was the tipping point issue?
• Underwriting the sponsor – has that become more important in the past year?
• What is your company’s experience related to receivership related to different geographies?

• What is deal flow like right now and how are you sourcing deals?
• What asset types are you buying and looking to buy? Which markets are you focused on for hospitality and retail transactions? Florida market ?
• What sectors present the best opportunities for long-term growth, and which are you steering clear of?
• Which risks will have the greatest impact on your buying strategy?
• What kinds of pricing are you seeing for discounted sales?
• How do you negotiate with banks of varying size and reach? What unique challenges and opportunities does each type present?
• Are you partnering with non-bank lenders? Why or why not?
• What is the best deal you have bought into recently? Succes/failure stories?

• Which new risks are facing commercial real estate loans and what impact will this have on special servicing?

• How is the relationship changing between borrowers, lenders and servicers?
• To what extent have lenders shifted from forbearance, deferment, etc., to enforcement of remedies through foreclosure or loan sale?
• What creative workout scenarios are borrowers and lenders discussing? What is actually being agreed upon? What happens once the forbearances/seasonality reserves or other reserves run out?
• How does turnaround and workout activity vary by sector and geography? What do distressed asset owners need to know when considering a workout?
• What are your predictions for distressed deal flow and default rates? How is this informing your risk management strategy?
• What impact do federal income tax considerations have on the structure of a workout?

• Recent Private Credit Trends & Structures
• Fund structure & tax considerations for your portfolio, what to consider?
• Regulatory trends/credit transactions
• How does private credit relate to distressed debt & distressed opportunities?
• Mezzanine, Second Lien Debt and Preferred Equity
• Restructuring situations best practices
• Risk Management
• Acquiring distressed debt & what to do with it
• Traditional bank lending decrease, more private credit in future?

• What are smaller banks and credit unions doing to grow their books of business? Is M&A an appealing alternative in this environment?
• How are they appealing to Millennials/Gen Z? What sort of experience and service do they need to stay competitive?
• Community Banks may have more variety than Credit Unions, but how do they settle on their specialty? Does technology make it easier to remain profitable?
• What legal issues do community banks, regional banks and credit unions face that are not a consideration for larger banks? Recent case studies from bank failures?

• What does the auction market for distressed property notes look like?
• What liability issues do you expect to arise with auctions? Where are the next opportunities?
• How does the opportunity set compare for OREOs?
• What alternatives are there to distressed asset sales aside from auctions? Who are some of the most active players in distressed asset and note sales?
• Which important tax considerations are often overlooked in distressed asset transactions?
• What are keys to success in executing an online auction?
• What have you learned from deals that fell through? What are some recent successful deals you’ve done?

• What are current credit conditions? What is current attitude of regulators toward C&I loans? Do you see things tightening up or relaxing? What does this indicate for the market as a whole? Pricing?
• What are your new strategies towards C&I ?
• What new risks are facing C&I loans in existing bank portfolios as a result of rising interest rates and compression of borrowers’ operating margins?
• What types of workout and exit strategies are being employed by lenders in regard to non-performing C&I loans, and to what extent do lenders seek to involve third party turnaround professionals in C&I loan workout and exit strategies?
• To what extent are lenders shifting from forbearance to enforcement of remedies and active loan workout in regard to non-performing C&I loans?
• Which new risks are facing C&I Loans in the current environment in your existing portfolio?
• What is the current borrower appetite for non-bank sources of capital? What is liquidity like in the non-bank market?

• What strategies are investors and lenders employing to find value in the current environment related to office & hotels?
• What is the outlook for distressed activity in the office & hotel sector for the next 6-12 months?
• Which capital sources are most attractive right now for owners?
• How are terms changing for preferred equity, senior and mezzanine debt?
• What has the recovery looked like for different hotel property types in the past year? Independents, brands, luxury, motels, resorts etc.
  Identifying and evaluating value-add opportunities in the hospitality sector
• How will short-term rentals(Airbnb etc.) impact the hotel industry moving forward?
• What strategies are investors and lenders employing to find value in this environment?
• Which capital sources are most attractive right now for owners?
• Which office markets have rebounded, and which are struggling? Florida market ?
• What is occupancy like in primary and secondary markets? Older vs. newer Class A buildings and suburban vs. urban assets?
• What can we expect to see in distressed opportunities in the near future?
• Identifying and evaluating value-add opportunities
• What strategies are investors and lenders employing related to office and hotels?
• What kinds of hotel receivership deals are you encountering now?
• Which hotel asset classes and markets have been most significantly impacted in the past year?

• How has the volume of litigation changed in the past year? Where are you targeting cases of distress? What deals are closing, what are the obstacles?
• Understanding the costs and time associated with litigation. How much is this going to cost? How long is this going to take? How do I prepare for this? Lessons learned?
• What non-litigious alternatives are available in various situations?
• When might litigation be necessary? What are the best and worst possible outcomes? How do you evaluate your potential litigator? How do you devise a strategy?
• What strategies are lenders using successfully to work creatively with borrowers and avoid foreclosure or notes sales?
• How do in-house counsel work with the Special Assets department to decide which outside counsel to retain?
• What happens when collection litigation or workouts transform into other disputes, counterclaims or lender liability cases?
• What are the legal requirements for filing an involuntary bankruptcy and pre-filing considerations that need be vetted to properly assess the risks and rewards of this seldom-used strategy?
• What are the lesser-known tactics debtors may use to thwart an involuntary bankruptcy? What reputational issues could arise from a failed attempt, including potential sanctions?
• What are some of the lesser-known challenges and keys to success in executing receiverships/general litigation?
• What questions should you be asking your receiver?

• How has recent retirements in the workout groups changed the future landscape of the workout industry? Or will it?
• How are the workout groups structured in your institution? Are they specialized specific like C&I and CRE? Are they structured by small business, middle market and large corporate segments?
• How is your institution preparing for succession planning?
• How long does it take to train a young workout officer?
• Why should having workout experience matter to any Bank?
  • What are some of the down sides to not having a “deep bench”?
• How do Banks realize the benefits of spending the money to attract, retain and train experienced workout professionals?

What does it mean to a consultant or attorney when dealing with a seasoned workout officer vs. someone green

• Has the volume of distressed picked up since last year?
• Are you in workout mode or sales mode?
• How are you finding pricing from buyers?
• Have you been selling notes?
• What internal dynamics or challenges are you facing within the bank that frustrate your ability to do workouts or sell notes?
• What do you see around the corner?

• How has SBA loan volume been trending in the past year?
• What are the unique challenges associated with SBA loan workouts?
• How are you evaluating loan applicants in today’s market?
• What impact will SBA rules have on your loan portfolios and risk management strategy?
• How may regulatory changes impact the outlook for SBA lending? What new risks are on the horizon?
• In what ways are you integrating and utilizing technology to better serve your borrowers?

• What are the legal requirements for filing an involuntary bankruptcy and pre-filing considerations that need be vetted to properly assess the risks and rewards of this seldom-used strategy?
• What are the lesser-known tactics debtors may use to thwart an involuntary bankruptcy? What reputational issues could arise from a failed attempt, including potential sanctions?
• How can you best manage the creditor process? What methods are most effective at identifying and avoiding unintended consequences while the bankruptcy proceeding is pending?
• How has the outlook changed for receiverships as a workout remedy?
• Which asset classes and markets have been most significantly impacted in the past year?
• What are some of the lesser-known challenges and keys to success in executing receiverships?
• What questions should you be asking your receiver?
• What do all parties need to know about the initial receivership order, powers and authorities and reporting requirements to the court?
• Lessons learned from more complex or less successful receiverships?

• What does issuance look like in 2025? CMBS Market Update?
• What percentage of CMBS debt across asset classes and urban markets is in delinquency or special servicing?
• How is forbearance, default and discounted loan sales activity changing?
• In what ways have workout/modification strategies changed in the past year as the pandemic recovery has progressed? Which asset classes have seen most tolerance from lenders to working with borrowers?
• What impact is the remote/hybrid work trend having upon CMBS given office comprises a significant portion of the underlying collateral?
• How are properties with shorter leases being handled, in comparison?
• Which property types are best positioned for future CMBS originations?