Phillip Wang practices in the areas of commercial litigation, bankruptcy, creditors' rights, and real estate, in the San Francisco Bay Area and Silicon Valley offices of Rimon.
Mr. Wang’s commercial litigation practice focuses on representing companies and individuals in complex business disputes including prosecuting and defending litigation of commercial contract, intellectual property, real estate and related matters in federal and state courts.
Mr. Wang's bankruptcy and creditors' rights practice includes representing secured and unsecured creditors, commercial lessors, financial institutions, business debtors, trustees, and committees in nearly all facets of corporate bankruptcy reorganization cases. He handles complex litigation, workout, restructuring and insolvency matters for lenders, lessors, and borrowers involving securitized commercial mortgage loans, commercial leases, guarantees, and extension and forbearance agreements. Mr. Wang has extensive experience in multiple jurisdictions with foreclosures and workouts related to troubled loans, distressed assets, the appointment of receivers, and other pre-judgment remedies.
In addition, Mr. Wang represents receivers on a national basis utilized in commercial real estate matters to stabilize distressed assets and manage property. The underlying real property assets are varied and include office towers, multi-family apartment complexes, retail shopping centers, and industrial buildings.
Mr. Wang's real estate practice includes representation of commercial developers, owners, landlords, tenants, lenders and borrowers in all aspects of disputes and litigation concerning commercial properties, such as complex commercial lease defaults, breaches of guaranty, mortgage fraud, real estate secured transaction issues, lender liability, easements, title and boundary disputes, nuisance abatement and other real estate-related controversies.
Honors and Awards
- Northern California, Super Lawyers (Thomson Reuters Corporation), 2009-present
- Corporate Counsel Edition, Super Lawyers (Thomson Reuters Corporation), 2010
- AV® Preeminent™ Peer Review Rated, Martindale-Hubbell (Internet Brands), 2020
- Represented public entity in acquisition of over 2700 acres of park land in seller's chapter 11 bankruptcy proceeding.
- Represented a secured creditor in contested confirmation hearing in Bankruptcy Court regarding $16 million loan for a retail shopping center in Nevada. Negotiated favorable workout to include confirmation of competing chapter 11 plan of reorganization.
- Represented a secured creditor in contested matters in Bankruptcy Court regarding $10 million loan for a retail shopping center in California.
- Represented Santa Clara County in California in the Delaware bankruptcy proceeding of Rural/Metro with regard to a $375 million dollar emergency services agreement.
- Represented a lender in negotiation of forbearance and modification agreements relating to loans of $122 million, and inter-creditor and co-leader agreements for B-Notes and mezzanine debt.
- Represented a lender in an action to recoup a $44-million commercial loan default against the guarantor. Following a hearing on cross-motions for summary judgment, the Los Angeles County Superior Court found for the lender on its claim for breach of guaranty and awarded it damages of $42 million, plus attorneys' fees and costs.
- Represented the court-appointed receiver in the sale of a 61-unit condominium project in San Mateo, Calif., by Beal Bank, which had a 7-percent interest in the loan on the property, to Presidio Development Partners for $20 million.
- Represented a lender in bankruptcy litigation and negotiation of sale of commercial real property collateral for $44 million in the borrowers' bankruptcy proceedings.
- Represented a lender in complex foreclosure proceedings, including the negotiation and documentation of sale of multiple notes secured by commercial real property for $127 million.
- Represented a special servicer for approximately $160 million in commercial loans secured by multiple hospitality assets in Innkeepers USA Trust's bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York.
- Represented a lender in complex foreclosure and receivership proceedings in the receiver's sale of the office buildings' collateral for approximately $211 million.
- "Observations from the Front Lines: Potential Conflicts of Interest Between Senior and Subordinate Investors May Result in Significant Litigation, "Structured Finance and Securitization in Context of Bankruptcy, Duane Morris - Risk & Recovery 2011 – Developments in Business Bankruptcy and Commercial Finance Law
- "Commercial Lease Termination Damages - Calculation and Application of the Bankruptcy Cap," California Real Property Journal, Vol. 26, No. 2, 2008
- "Recent Bankruptcy Law Amendments Affecting Commercial Real Estate - A Historical Perspective," California Real Property Journal, Silver Anniversary Edition, Vol. 24, No. 3, 2006
- "Bad Faith Filings and Solvent Tenant Bankruptcies," Business Law News of State Bar of California, Spring 2005
- "Finally, a Limit on a Solvent Tenant's Ability to Use Bankruptcy to Shortchange a Landlord," Real Estate Finance Journal, Spring 2005
- Webinar, "Leases and Loans, Feeling the COVID 19 Effects", NAIOP San Francisco Bay Area chapter, April 9, 2020
- Speaker, "Real Estate 101: When Real Estate Goes South," Real Property Law Section Webinar, The State Bar of California, February 26, 2014
- Moderator, "CRE Market Trends and Opportunities in 2013, 2014, 2015," Distressed Debt Summit, CRE Finance Council, Santa Monica, CA, May 13, 2013
- Moderator, "Options and Strategies for Loan Workouts," San Francisco After-Work Seminar, CRE Finance Council, September 13, 2012
- Moderator, "Options and Latest Strategies for Workouts," High Yield Debt Investment Conference, CRE Finance Council, May 8, 2012
- Moderator, "Sunnyvale Town Center: Use of Receivers in Partially Completed Projects," TEAM A (The Equity Asset Managers Association), February 28, 2012
- Speaker, "Purchasing Debt in Today's Market," Duane Morris Real Estate Roundtable, May 18, 2011
- Speaker, "What Real Estate Lawyers Should Know About Bankruptcy: Overview of Bankruptcy, Treatment of Leases in Bankruptcy, Restructuring Secured Debt in Bankruptcy,"
- Bar Association of San Francisco, Real Estate and Insolvency Sections, November 9, 2010
- Speaker, "The Rise After the Fall in the CMBS World: Restructuring Securitized Debt," The State Bar of California Real Property Law Section 29th Annual Retreat, April 30-May 2, 2010
- Faculty Member, "Real Property Law Boot Camp 2010," State Bar of California Real Property Law Section, February 26-28, 2010
- Speaker, "Interaction of Real Property Law and Bankruptcy in Litigation," 82nd Annual Meeting of the State Bar of California, San Diego, September 12, 2009
- Speaker, "Bankruptcy and Creditors' Rights Issues in Construction Law," DRI Construction Law Seminar, September 10, 2009
- Speaker, "Trouble in Commercial Leases - Default and Bankruptcy Issues," 27th Annual Retreat for Real Property Law Section of State Bar of California, May 2008
- Instructor, 2008-2009, "Real Property Lawyer Boot Camp - Real Property Law Section of State Bar of California," an intensive 48-hour program to train attorneys on real estate transactions, real estate litigation and bankruptcy issues
- Speaker, "What Commercial Real Estate Owners & Tenants Should Know About the 2005 Bankruptcy Reform Act," Bar Association of San Francisco, Barristers' Club, Bankruptcy Section, September 2005
- Speaker, "Bankruptcy Issues in the Real Estate Market After the Boom," Bar Association of San Francisco, Barristers' Club, Bankruptcy Section, July 2002
News, Events, & Insights
12 Rimon attorneys across six offices named Super Lawyers, again
News April 08, 2020
The CARES Act
Insights March 30, 2020
- Leases and loans feeling the COVID-19 pain
- Rimon’s Complimentary CLE Webinar Series 2020
Legal Insight: Coronavirus and Its Effect on the Supply Chain
Insights February 26, 2020
Rimon’s Expansion to Shenzhen Covered by The American Lawyer, The Global Legal Post, Asian Legal Business and Lawfuel
News January 29, 2019