Phillip Wang practices in the areas of bankruptcy, creditors' rights and real estate law in the San Francisco and Silicon Valley offices of Duane Morris.
Mr. Wang's bankruptcy and creditors' rights practice includes representing secured and unsecured creditors, financial institutions, business debtors, trustees, and committees in nearly all facets of corporate bankruptcy reorganization cases, such as bankruptcy litigation matters and the purchase or sale of distressed assets in bankruptcy transactions. He handles complex litigation, workout, restructuring and insolvency matters for lenders, loan servicers and borrowers involving securitized commercial mortgage loans, commercial mortgage-backed securities, conventional real property loans, guarantees, and extension and forbearance agreements. Mr. Wang also counsels clients in Silicon Valley on the protection or enforcement of intellectual property rights in bankruptcy proceedings.
Mr. Wang has extensive experience in multiple jurisdictions with foreclosures and workouts related to troubled loans, distressed assets and prejudgment remedies, such as the appointment of receivers. In particular, he represents special servicers of Commercial Mortgage Backed Securities (CMBS) loans, which service numerous pools of CMBS loans relating to real property interests in multiple states. His work in this area includes complex foreclosure, receivership and bankruptcy matters, workouts, restructurings, forbearances, modifications, deeds in lieu of foreclosure, and property sales.
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 major office towers, multi-family apartment complexes, retail shopping centers, industrial buildings, and hospitality facilities, typically valued between $10 and $300 million.
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. He also focuses on negotiating and preparing commercial leases and property management agreements; acquisition and disposition of commercial office, retail shopping centers, and multifamily properties; and the financing of such sales together with coordination and oversight of all associated due diligence matters.
Honors & Awards
•Super Lawyer for Northern California, 2009-present
•Super Lawyers, Corporate Counsel Edition, 2010
• AV Preeminent Peer Review Rated by Martindale-Hubbell
• Observations from the Front Lines: Potential Conflicts of Interest Between Senior and Subordinate Investors May Result in Significant Litigation, Structured Finance and Securitization in Context of Bankruptcy, Duane Morris - Risk & Recovery 2011 - Developments in Business Bankruptcy and Commercial Finance Law
• Commercial Lease Termination Damages - Calculation and Application of the Bankruptcy Cap, California Real Property Journal, Vol. 26, No. 2, 2008
• Recent Bankruptcy Law Amendments Affecting Commercial Real Estate - A Historical Perspective, California Real Property Journal, Silver Anniversary Edition, Vol. 24, No. 3, 2006
• Bad Faith Filings and Solvent Tenant Bankruptcies, Business Law News of State Bar of California, Spring 2005
• Finally, a Limit on a Solvent Tenant's Ability to Use Bankruptcy to Shortchange a Landlord, Real Estate Finance Journal, Spring 2005
Selected Speaking Engagements
•Speaker, Real Estate 101: When Real Estate Goes South, Real Property Law Section Webinar, The State Bar of California, February 26, 2014
•Moderator, CRE Market Trends and Opportunities in 2013, 2014, 2015, Distressed Debt Summit, CRE Finance Council, Santa Monica, CA, May 13, 2013
•Moderator, Options and Strategies for Loan Workouts, San Francisco After-Work Seminar, CRE Finance Council, September 13, 2012
•Moderator, Options and Latest Strategies for Workouts, High Yield Debt Investment Conference, CRE Finance Council, May 8, 2012
•Moderator, Sunnyvale Town Center: Use of Receivers in Partially Completed Projects, TEAM A (The Equity Asset Managers Association), February 28, 2012
•Speaker, Purchasing Debt in Today's Market, Duane Morris Real Estate Roundtable, May 18, 2011
•Speaker, What Real Estate Lawyers Should Know About Bankruptcy: Overview of Bankruptcy, Treatment of Leases in Bankruptcy, Restructuring Secured Debt in Bankruptcy, Bar Association of San Francisco, Real Estate and Insolvency Sections, November 9, 2010
•Speaker, The Rise After the Fall in the CMBS World: Restructuring Securitized Debt, The State Bar of California Real Property Law Section 29th Annual Retreat, April 30-May 2, 2010
•Faculty Member, Real Property Law Boot Camp 2010, State Bar of California Real Property Law Section, February 26-28, 2010
•Speaker, Interaction of Real Property Law and Bankruptcy in Litigation, 82nd Annual Meeting of the State Bar of California, San Diego, September 12, 2009
•Speaker, Bankruptcy and Creditors' Rights Issues in Construction Law, DRI Construction Law Seminar, September 10, 2009
•Speaker, Trouble in Commercial Leases - Default and Bankruptcy Issues, 27th Annual Retreat for Real Property Law Section of State Bar of California, May 2008
•Instructor, 2008-2009, Real Property Lawyer Boot Camp - Real Property Law Section of State Bar of California, an intensive 48-hour program to train attorneys on real estate transactions, real estate litigation and bankruptcy issues
•Speaker, What Commercial Real Estate Owners & Tenants Should Know About the 2005 Bankruptcy Reform Act, Bar Association of San Francisco, Barristers' Club, Bankruptcy Section, September 2005
•Speaker, Bankruptcy Issues in the Real Estate Market After the Boom, Bar Association of San Francisco, Barristers' Club, Bankruptcy Section, July 2002 (Also at Palo Alto Office)