Phillip Wang

Phillip Wang practices in the areas of complex commercial litigation, bankruptcy, creditors’ rights restructuring, and real estate, in the California offices of Rimon.

Mr. Wang’s commercial litigation practice focuses on representing companies and individuals in complex business disputes including prosecuting and defending litigation of commercial contract, intellectual property, real estate and related matters in federal and state courts.

Mr. Wang’s bankruptcy and creditors’ rights practice includes representing secured and unsecured creditors, commercial lessors, financial institutions, business debtors, trustees, and committees in nearly all facets of corporate bankruptcy reorganization cases. He handles complex litigation, workout, restructuring and insolvency matters for lenders, lessors, and borrowers involving securitized commercial mortgage loans, commercial leases, guarantees, and extension and forbearance agreements. Mr. Wang has extensive experience in multiple jurisdictions with foreclosures and workouts related to troubled loans, distressed assets, the appointment of receivers, and other pre-judgment remedies.

In addition, Mr. Wang represents receivers on a national basis utilized in commercial real estate matters to stabilize distressed assets and manage property. The underlying real property assets are varied and include office towers, multi-family apartment complexes, retail shopping centers, and industrial buildings.

Mr. Wang’s real estate practice includes representation of commercial developers, owners, landlords, tenants, lenders and borrowers in all aspects of disputes and litigation concerning commercial properties, such as complex commercial lease defaults, breaches of guaranty, mortgage fraud, real estate secured transaction issues, lender liability, easements, title and boundary disputes, nuisance abatement and other real estate-related controversies.

HONORS AND AWARDS

• Northern California, Super Lawyers (Thomson Reuters Corporation), 2009-2022
• Corporate Counsel Edition, Super Lawyers (Thomson Reuters Corporation), 2010
• AV® Preeminent™ Peer Review Rated, Martindale-Hubbell (Internet Brands), 2007-2022

REPRESENTATIVE MATTERS

• Represented public entity in acquisition of over 2700 acres of park land in seller’s chapter 11 bankruptcy proceeding.
• Represented a secured creditor in contested confirmation hearing in Bankruptcy Court regarding $16 million loan for a retail shopping center in Nevada. Negotiated favorable workout to include confirmation of competing chapter 11 plan of reorganization.
• Represented a secured creditor in contested matters in Bankruptcy Court regarding $10 million loan for a retail shopping center in California.
• Represented Santa Clara County in California in the Delaware bankruptcy proceeding of Rural/Metro with regard to a $375 million dollar emergency services agreement.
• Represented a lender in negotiation of forbearance and modification agreements relating to loans of $122 million, and inter-creditor and co-leader agreements for B-Notes and mezzanine debt.
• Represented a lender in an action to recoup a $44-million commercial loan default against the guarantor. Following a hearing on cross-motions for summary judgment, the Los Angeles County Superior Court found for the lender on its claim for breach of guaranty and awarded it damages of $42 million, plus attorneys’ fees and costs.
• Represented the court-appointed receiver in the sale of a 61-unit condominium project in San Mateo, Calif., by Beal Bank, which had a 7-percent interest in the loan on the property, to Presidio Development Partners for $20 million.
• Represented a lender in bankruptcy litigation and negotiation of sale of commercial real property collateral for $44 million in the borrowers’ bankruptcy proceedings.
• Represented a lender in complex foreclosure proceedings, including the negotiation and documentation of sale of multiple notes secured by commercial real property for $127 million.
• Represented a special servicer for approximately $160 million in commercial loans secured by multiple hospitality assets in Innkeepers USA Trust’s bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York.
• Represented a lender in complex foreclosure and receivership proceedings in the receiver’s sale of the office buildings’ collateral for approximately $211 million.