Frank M. Correll, Jr.

Frank is the co-chair of the bankruptcy and restructuring department. His practice encompasses both commercial and real estate workouts and bankruptcy proceedings as well as a wide range of commercial litigation in both federal and state courts. His clients include financial institutions, debtors, financial guaranty companies, private equity funds and special receivers. Frank has represented both plaintiffs and defendants in complex litigation in various courts.

Significant representative matters include:

• Represented healthcare lender in the bankruptcy of a health system. Litigated the validity and extent of various parties’ claims. Represented lender in lender’s debtor-in-possession loan to the debtor. Client received full payment of its claim.
• Represented a private equity mezzanine fund in the workout of a $35 million real estate loan in Florida.
• Represented financial insurer in litigation and multi-faceted restructure of power facility bonds. Initiated litigation, which resulted in reaffirmation by members of power authority of their power purchase contracts and the stabilization of power facility finances which allowed power facility to refinance its bond debt, thereby terminating client’s exposure under the financial guaranty.
• Counsel to borrower and guarantor to replace existing counsel and to defend summary judgment motion of lender. Successfully defended motion and subsequently represented borrower and guarantor in the loan workout and related litigation, which ultimately resulted in sale of the loan to a friendly third party and a release of the guarantors.
• Represented a regional developer in acquisitions of office buildings, apartment buildings and retail malls, as well as the development of a 250 thousand sq. ft. outlet center in Gettysburg, Pennsylvania.

Presenter, “Part Two: Loan Sales and Distressed Loan Recovery Strategies,” accredited CLE program, April 7, 2021

Presenter, “Loan Sales and Distressed Loan Recovery Strategies,” accredited CLE program, March 3, 2021

Presenter, “Commercial Mortgage Loan Purchases and Sales Revisited,” accredited CLE program, November 18, 2020

Presenter, “Commercial Mortgage Loan Purchase and Sale Revisited,” accredited CLE, February 15, 2012

Presenter, “Guaranties: Enforcement and Defenses in Trying Times,” accredited CLE, October 17, 2012

Presenter, “Grabbing the Collateral: Dispossession, Repossession and Disposition of Mortgaged Property,” 16th Annual Philadelphia Bar Association Real Estate Institute, December 6, 2010

Debtor/Creditor

• Represented a national healthcare lender in the bankruptcy of a 300 thousand sq. ft. hospital site in Indianapolis
• Represents the purchaser of a securitized loan portfolio in the workout and restructure of the loans purchased. Performed due diligence relating to the underlying bankruptcy of the original lender, the securitization and the collateral for the loans
• Successfully defended a large regional bank in a lender liability action with damages claimed in excess of $10 million resulting in summary judgment and dismissal of the claim
• Provide counsel services to many regional and local banking institutions with respect to financing transactions, litigation representation and bankruptcy representation.

Litigation

• Represented a real estate fund after fund had eight-figure judgment entered against it under a guaranty. Successfully challenged judgment resulting in judgment being stricken in its entirety.
• Representation of pharmaceutical company in suit against other pharmaceutical companies for breach of a supply agreement. After multi-day arbitration, arbitrator awarded client a multi-million judgment against defendants.
• Represented a national retailer in a breach of contract action.
• Successfully represented a corporation in enforcing a restrictive covenant against a former employee.
• Successfully defended a regional real estate company in an action brought by the purchaser of a 300 plus unit residential hi-rise alleging fraud, breach of contract, and negligence wherein the purchaser sought recission of the purchase.
• Successfully obtained an injunction against a major regional rail line for its violation of the mandated procedures in awarding construction contracts on public construction projects.
• Successfully defended a local real estate developer in a racial discrimination action.
• Currently represents numerous developers and construction companies in construction related litigation.
• Currently represents numerous corporate clients in collection related litigation.

Real Estate

• Represented a South Jersey developer in the acquisition of a 200 acre real estate parcel from the bankrupt owner and the development of a 27 hole golf course outside of Avalon, New Jersey.
• Represented a local builder in the acquisition, financing and development of numerous residential building sites in the tri-county area.