Commercial Law
May 27, 2010
Thoughts On The Psychology Of a Workout
The psychological interplay between debtor and creditor in a workout frequently involves many issues that go beyond the "law" and the language of the documents, writes Barry Freeman of Jeffer Mangels.
The psychological interplay between debtor and creditor in a workout of a classified or defaulting loan frequently involves many issues that go beyond the "law" and the language of loan documents. There may well be significantly conflicting emotional pressures inherent in this situation, which needs to be recognized, understood and dealt with.
The bank generally will have well-documented loan agreements that prov...
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