Commercial Transactions

BHBC has had substantial experience in commercial transactions through its representation of a number of Alaska banks, public agencies, and private Native and non-Native business corporations.  BHBC is preeminent among Alaska firms in its representation of financial institutions.  The firm has represented lenders in both good and bad economic times, thereby developing a complete and thorough understanding of commercial and financial issues.  BHBC is knowledgeable on complex and commercial issues and the newest statutes, regulations, and court decisions which substantially affect the firm's clients.

BHBC's attorneys have negotiated, drafted, and interpreted all types of agreements associated with commercial loans, from the loan commitment through the preparation of the loan agreement, security agreements, deeds of trust, promissory notes, deed of trust notes, assignments of deeds of trust, assignments of leases, and escrow instructions.  Several financial institutions entering the Alaska market sought the BHBC's expertise for guidance in establishing operations that conform to Alaska law concerning lending practices, consumer protection, and creditor remedies.

BHBC also has substantial experience with inter-creditor relationships, including the negotiation, preparation, and review of servicing and participation agreements.  Representative experience includes:

• KeyBank National Association.  The firm has represented KeyBank and other qualified banks in the State of Alaska, including the multi-million dollar Mt. Roberts tramway financing in Juneau, Alaska, which involved many unique issues including security interests in air rights and other assets specific to the tramway operation.
• Alaska Communications Systems.  The firm represented ACS in its acquisition of ATU (the Anchorage Telephone Utility).  This was a substantial project which included conducting the due diligence review of the ATU assets.
• Petro Star Valdez Refinery.  The firm represented Petro Star Refinery in construction and financing of an oil refinery, including the negotiation and drafting of the documents for numerous lines of credit.
• KeyBank National Association.  The firm has represented KeyBank in long-term loans and multi million dollar lines of credit to Alaska Native Corporations including Arctic Slope Region, Inc., which loans involved the analysis of special issues relative to the Alaska Native Claims Settlement Act ("ANCSA") and the Alaska National Interest Lands Conservation Act ("ANILCA"), particularly as those acts impact real estate lending.
• Municipality of Anchorage.  The firm represented the Municipality of Anchorage in the due diligence analysis of oil and gas leases to be purchased by Municipal Light and Power in the Beluga Field, and the preparation of the title opinion for that purchase.
• Cornell Corrections, Inc.  The firm represented Cornell Corrections in the due diligence review on all real property to be purchased or leased in Alaska by this operator of private prisons, including advice on title exceptions, zoning compliance, survey issues and encroachment.
• Seward Association for the Advancement of Marine Science.  The firm represents SAAMS, the developer and operator of the Alaska SeaLife Center, including negotiations of the Agreement for Financing, Lease, Construction, Operation and Maintenance of the Alaska SeaLife Center by and between City of Seward and SAAMS.
• The firm represented the lender in connection with three housing projects located on military reservations; these projects were developed by private developers under Section 801 of the Federal Procurement regulations and involve long-term leases with the U.S. Government.  Each of the loans on these projects was in excess of $30 million.  The representation involved all aspects of construction financing and documentation, including negotiation with the Government on the terms of the long-term leases, and perfection of the lender's interests through deeds of trust, assignments of the leases, and assignments under the 1940 Assignment of Claims Acts.
• The firm represented the purchasers in purchase and financing of four mobile home parks and two medical buildings in Anchorage, Alaska.

As previously stated, BHBC has represented lenders and developers both in prosperous times and in recessions.  Therefore, in addition to commercial and real estate loan documentation, the firm's attorneys have negotiated, drafted, and interpreted documents related to loan restructurings, loan modifications, workouts, deeds in lieu of foreclosure, and have analyzed legal issues associated with those documents. BHBC has assisted lenders in establishing a strategy with regard to dealing with defaulting borrowers and dealing with loan participants.

Attorneys

• Suzanne Cherot
• Kathryn A. Black
• Thomas F. Klinkner