Adam Friedman Quoted in Law360 on CMBS Tensions as Special-Servicer Work Increases

Adam Friedman, Partner and Chair of the firm’s Bankruptcy & Financial Restructuring and Distressed Real Estate Practices, was quoted in a Law360 article (subscription required) on the tensions that can occur between different classes of CMBS investors and how a distressed market can exacerbate those tensions. Adam explained that some conflicting interests are unavoidable due to the structure of CMBS: “If the controlling class has hire-and-fire authority, [the special servicer] is beholden.”