I have more than 18 years experience representing clients in all aspects of... more
I have more than 18 years experience representing clients in all aspects of commercial lending and collection matters. My experience in both documenting and collecting loans and investments allows me to provide my clients with an added insight into deal structure. I favor an out of court approach to collection matters because I believe that a similar, if not better, result can be obtained at lo... view profile
Michael Phillips has a multifaceted practice that includes business litigation, real... more
Michael Phillips has a multifaceted practice that includes business litigation, real estate law, commercial lending and workouts, condominium law, sports law and government relations. He is known for his strategic approach to resolving disputes and for his trusted business advice. Mr. Phillips’ litigation practice consists of a wide array of civil litigation, including business and partnership... view profile
When you buy something on credit, you borrow the money from a lender and put yourself in debt. The paperwork documenting this transaction is a debt/lending agreement. For example, simple debt / lending agreements are used to finance RV or boat purchases. More complicated debt / lending agreements for commercial business operations may include complex credit agreements, promissory notes, security and guarantee agreements, subordination or inter-creditor agreements, patent or trademark collateral security agreements, assignment and assumption agreements, hazardous substance indemnity agreements, mortgage agreements, and accounts receivable letters. When substantial amounts of money are involved, you'll want to use a business attorney with experience in negotiating and drafting debt and lending agreements.