Year End Grab Bag: 2010 Events Calendar; and Another Ticking Sound - Taking Control of Building Operating Systems
Just as they did for 2009 [link], our friends at Armstrong & Associates [website] have prepared a 2010 calendar events and meetings for industry associations, legal education events, governmental meetings, etc. -- all focused on bankruptcy and insolvency.
It is a very good list [PDF]
If your focus is on distressed commercial mortgages, then you’ll note that this event is missing from the list: the MBA’s Commercial/Multifamily Servicing and Technology Conference. It is May 23-26, 2010 in New York City [Link to MBA conference website]
I attended the 2009 MBA Loan Servicing and Technology Conference, and as I typically do at conferences, I posted several blogs covering topics addressed at the conference [day two link]. (Bonus information included several restaurant reviews - how could I be in New Orleans and not mention the food? Work. Eat. Work. Eat.)
From my perspective, the topics covered by the 2010 conference will sound a lot like the topics at the 2009 conference – unless we have truly significant changes in the regulatory environment and\or in the financial markets, which from my perspective would include changes in the Federal Bankruptcy Code AND Treasury Regulations in support of a covered (mortgage) bond product. (If you're a regular reader, you know that we're following this topic.)
Here's a "new" topic, however; and it is one that we're suggesting the MBA include in the 2010 Conference: Taking Control of Building Operating Systems Upon Foreclosure or Receivership.
- how does that topic strike you?
- is this a "hot" topic for you?
- for example, how are you dealing with technology issues at building takeover? Is the server on site? Is removal of the server a non-recourse carve-out event? Oops - "how" do we "control" the HVAC or the building electrical grid or telephone and data services? (Yes, this is something "new" from the late 80s - technology has impacted building operations; did you make corresponding changes to your loan documents? Is it on your takeover list? How are you dealing with it at takeover?)
My bet is that the MBA will want us to present this topic, and that as commercial office buildings "enter" the workout mix, this topic will jump up and bite us. (And yes, in 2010 we'll do a few blog entries on this subject as part of our "Ticking Sound" series.)
Also, Kevin Sullivan [web bio] and I will be attending the CMSA's Investor Conference next month [conference flier]. I'll update you on a daily basis while we're in DC at the conference. It promises to be very, very interesting - given all of the regulatory reform in the winds.
Finally, please comment on any of this.
We hope that you're having a good holiday season.
