Greg Yates Featured in Dow Jones DBR Small Cap Newsletter
"Mover of the Week: Real Estate Knowledge Pays Off For New Seyfarth Shaw"

Greg Yates was featured in the Dow Jones DBR Small Cap Newsletter article, "Mover of the Week: Real Estate Knowledge Pays Off For New Seyfarth Shaw,” published February 19, 2010. The article profiled Greg Yates, the newest member of Seyfarth Shaw's Bankruptcy Practice Group in New York. The article reported on Greg's expansive past experience working on property transactions, consulting, and teaching finance and real-estate economics classes. Greg also completed a clerkship with Judge Burton Lifland, then the chief bankruptcy judge for the Southern District of New York. According to the article, Greg remains drawn to jobs that tap both his knowledge of real estate and bankruptcy, which he's found again at Seyfarth, which is seeing an uptick in distressed-property restructurings. Greg commented, "In the next six months, there will be a whole lot more activity in this sector."

Greg further explained that the improving economy is another reason for more real estate restructurings. When land values crashed, banks were more willing to extend loans, forgive defaults and work with borrowers rather than take back property they knew would be difficult to sell. The article pointed out that as those accommodation agreements run out and prices stabilize, lenders are more likely to foreclose, which in turn could cause property owners to file for bankruptcy. Greg added, "You will see more bankruptcies, especially when the borrower has no other options."