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Thomson West Publishes Randell Wallace on Real Estate Leases and Effects of Foreclosure

5/5/2010

The American Casebook Series division of Thomson West has published Debtor-Creditor: Creditor Remedies and Debtor Rights Under State and Non-Bankruptcy Federal Law, and it includes an article previously published in the Journal of the Missouri Bar titled, “real estate leases and the effects of foreclosure” by Lathrop & Gage attorney Randell Wallace (Real Estate - Springfield). Esteemed legal authors Steve Nickles and David Epstein edited the guide just released by West, a division of ThomsonReuters.

“While common law may provide some protection from the affirmative efforts of unscrupulous landlords to terminate unwanted leases, in the absence of such efforts the mortgagee and tenant still run the risk of termination of the lease in the event of foreclosure of a prior existing mortgage,” writes Mr. Wallace, who counsels local, regional and national developers and lenders in real estate acquisition and divestiture, planning and zoning matters, economic development and redevelopment incentives, lending transactions, foreclosure, bankruptcy and workouts, leasing, and condominium formation and operation. “Tenants, in particular those who are investing their own funds in tenant improvements and infill, would be well-advised to negotiate a non-disturbance agreement with the mortgagee, so as to not risk forfeiture of its investment in infill or provide the purchaser with the option of terminating its lease if the current lease rate is below market levels.”

The book is available on West’s online store, and features cutting-edge commentary from leaders in the field. Other chapters cover the full range of both new and traditional means of judicial and private enforcement; modern arrangements for structuring debt and security; definitions of who is liable for the debt and who has what rights in what property; and how debtor-creditor law applies and adapts, by public or private law, to modern transactional forms and circumstances and to contemporary attitudes about the proper balance of debtors' and creditors' interests.

Mr. Wallace also practices in mergers and acquisitions, corporate finance, securities, and economic development incentives. He has represented purchasers and sellers in merger and acquisition transactions in the technology, food and agribusiness, pharmaceutical, and manufacturing industries. He has also represented technology, security and financial companies in private placements of securities.

A 1985 graduate of the Vanderbilt University Law School, Mr. Wallace’s volunteer service has included leadership positions with numerous state and regional economic development agencies. He is an original Board member and officer of the Missouri Partnership, a state-wide public-private partnership formed to promote business attraction and economic development in the State of Missouri. He has also served as Chairman of the Springfield Area Chamber of Commerce, President of the Springfield Business Development Corporation, Chairman of the Greene County Planning & Zoning Board, and President of Leadership Springfield. He also led the Springfield Area Chamber of Commerce’s first trade mission to China. He has written articles and made presentations for the Missouri Bar, has made numerous presentations to community and economic development agencies, and has authored a general audience column on real estate law for a local newspaper and a private news letter on real estate and business topics for real estate and lending professionals.

About Lathrop & Gage:
A full-service law firm, Lathrop & Gage LLP has almost 300 attorneys in 10 offices nationwide – from Los Angeles to New York. In 2009, Chambers USA ranked Lathrop & Gage’s corporate, environmental, intellectual property, litigation, real estate and labor and employment teams among the best in the Midwest. For more information, visit www.lathropgage.com.