Akin Gump Launches Distressed Real Estate Asset Services Practice

Sunday, February 1, 2009 - 01:00

Akin Gump Strauss Hauer & Feld LLP has announced the launch of a distressed real estate asset services practice to help clients control the risks and take advantage of the opportunities presented by the unparalleled disruptions in the real estate markets and the rapidly evolving federal regulatory and legislative environment.

Led by Peter Miller in New York and Peter Gurfein and Hushmand Sohaili in Los Angeles, the multidisciplinary practice group helps private equity, opportunity and hedge funds; investment banks; developers; REITs; mortgage and mezzanine lenders; and servicers address issues related to the credit crunch, the subprime mortgage crisis, declining real estate values and the surge in foreclosures. The 15-member group advises on the acquisition and disposition of distressed real estate assets and debt; intercreditor, participation, and pooling and servicing agreements; the restructuring of debt secured by distressed real estate assets; "loan-to-own" opportunities; foreclosure against collateral; and the pursuit of remedies against guarantors.

Alexey L. Kondratchik has rejoined Akin Gump Strauss Hauer & Feld LLP as a partner in Moscow. This announcement follows the recent promotion of Andrei V. Danilov to partner in Moscow. Mr. Danilov is one of 15 attorneys worldwide elected to the firm's partnership and brings to seven the number of partners in Akin Gump's Moscow office.

Mr. Kondratchik represents large corporations and private investors from Russia, the U.S., Western Europe and China in connection with oil, gas and mining projects - including joint ventures, mergers and acquisitions, corporate restructurings and financings - in Russia and other countries of the former Soviet Union.

Mr. Danilov's practice focuses on domestic and cross-border merger, acquisition and disposal transactions, and international capital markets transactions. He has experience across a number of industry sectors, but particularly in energy and telecommunications.