Gorman speaks on forbearance agreements
“Creditors often agree to workouts or loan modifications without getting anything in return from their borrowers. I wanted to remind lenders that a forbearance agreement is their chance to do just that,” Gorman said.
Gorman’s Forbearance Agreement presentation focused on releases, additional collateral controls, Missouri Credit Agreement Statute of Frauds and ECOA Defenses, and bankruptcy-related provisions, among other issues. Attendees received a form forbearance agreement and a slide show covering the main points of Gorman’s presentation.