Our office remains open to serve your important legal needs during these turbulent and challenging times. We are happy to schedule client consultations and client meetings by telephone or video-conference at your request.
Bryan E. Kuhn
Counselor at Law, P.C.
Business & Employment Law Attorney

Foreclosure as part of business plan

In these tough economic times, it is all too common to hear of Colorado businesses facing foreclosure proceedings. However, it’s not always realized that these actions could indicate a positive turn in terms of the businesses’ futures. In some cases, the foreclosure may have even been part of the property owner’s well-thought-out business plan.

This is the case in Pueblo, where New Vision LLC, the owner of a local Clarion Inn intentionally defaulted and then used the foreclosure notice received from its lender to spur a refinancing deal that will hopefully spur growth and prevent the business from going under. Their lender, like many across the nation, was refusing to discuss loan refinancing options when the mortgage was not in default. The inn had seen decreased profits due to the downtrodden economy and several new area hotels, so the owner made the careful decision to stop making payments on the loan.

The strategy worked, with the lender, Beach Business Bank, agreeing to a refinancing deal that is set to be finalized in October. The hotel, which has remained in operation throughout the proceedings, plans to make improvements including upgraded televisions in the guest rooms and a remodeled lobby. As part of the refinancing plan, the bank will finance the hotel’s unpaid property taxes and the owners will save more than $200,000 annually due to their reduced interest rate.

When a business owner is facing foreclosure or taking part in a number of any other business transactions, the advice of a lawyer who handles business and commercial matters can be an invaluable asset. They have intricate knowledge of matters concerning business plans and restructuring and can help the owner navigate these complicated waters and make the best choice for the future of the business.

Source: The Pueblo Chieftain, “Hotel announces refinancing deal,” Dennis Darrow, Sept. 27, 2011

Column Image

“I used the Bryan E. Kuhn, Counselor at Law, P.C. team to help me with a case. They were always professional, upfront, and positive providing guidance while keeping me informed.”
– L.H.

“Everyone at the firm was professional, responsive and courteous. I would definitely recommend this firm if you are in need of superior legal assistance.”
– J.S.

“Bryan and his law firm operate with great professionalism and personal touch. I appreciated the way he and his team offered transparent communication.”
– N.S.

“The team was very professional in helping me to get through an uncomfortable ADA situation at my workplace. This was a very good legal experience. I would recommend Bryan E. Kuhn & team to anyone who needs work related legal help.”
– D.L.

“Bryan, Katie, and all the staff in this office are super fast to respond, expert in their fields, and always helpful. We have been extremely pleased with their services for our small business.”
– T.Z.

Column Image


Bg Subscribe
Contact Our Firm

Office Location

Bryan E. Kuhn, Counselor at Law, P.C.
1660 Lincoln Street Suite 2330
Denver, CO 80264

Local: 303-424-4286
Toll Free: 866-693-5541
Fax: 303-425-4013
Denver Law Office Map
FindLaw Network
Click for the BBB Business Review of this Attorneys & Lawyers - Employment Litigation in Denver CO