Gregory R. Fox
Shareholder
foxg@lanepowell.com
206.223.7129
Areas of Practice
Greg Fox is Chair of Lane Powell’s Bankruptcy and Creditors’ Rights Practice Group. He represents
financial institutions, finance companies, receivers, commercial borrowers, and other constituencies
in all areas of commercial credit, including loan documentation, creditor/debtor and insolvency.
Greg’s transactional work includes the negotiation and documentation of asset-based and cashflow loans, real estate-secured loans, loan restructurings, and general advice on commercial lending
practices and forms. Greg’s creditor/debtor practice involves UCC and real estate foreclosures,
deeds-in-lieu, loan workouts, receiverships, prejudgment remedies, bankruptcy representation,
deficiency lawsuits and the defense of lender liability claims. In the course of his practice, Greg
frequently provides guidance on matters involving the Bankruptcy Code, receivership law, the
UCC, commercial lending practices and Washington real property law. Greg is a past President of
the Turnaround Management Association Northwest Chapter, and Co-chair of the American Bar
Association’s Business Law Section Task Force for Security Interests in LLC’s and Unincorporated
Entities, and Fellow of the American College of Commercial Finance Lawyers.
Admitted to Practice
Washington
U.S. District Court, Western District of Washington
U.S. District Court, Eastern District of Washington
Academics and Accreditations
Willamette University College of Law (J.D., cum laude, 2000)
University of Puget Sound (B.A., Politics and Government, 1997)
Legal Lean Sigma® and Project Management — Yellow Belt Certification
Practice Group and Specialty Team Memberships
Chair, Bankruptcy and Creditors’ Rights Practice Group
Member, Lane Powell Board of Directors
Bankruptcy and Creditors’ Rights — Oil and Gas Industry
Finance and Banking
Financial Institutions
Real Estate Litigation
Representative Loan Documentation Matters
Line of credit to private lender secured by real estate secured loans
Revolving credit facility to consumer products manufacturer
Debtor-in-possession real estate financing
Revolving credit facility to oil and gas service provider secured by domestic assets, including mobile equipment and a vessel. Documentation included a split lien intercreditor agreement with
pre-existing noteholders and complex borrowing base structure
Term loan secured by regional shopping center
Revolving credit facility to clothing retailer. Documentation included intercreditor agreement with factor, and a borrowing base that included in-transit goods and factoring proceeds
Revolving credit facility to online retailer. Documentation included co-borrower structure, foreign collateral and intercreditor agreement
Revolving credit facility to co-borrower wholesaler
Revolving and term loan facilities to food service company
Debtor-in-possession project financing secured by foreign-flagged vessel and deep sea submersibles
Revolving credit facility to online retailer
Revolving and term credit facilities to seafood processor
Revolving credit facility to manufacturer of telecommunications equipment
Ex-Im revolving credit facility
Representative Loan Enforcement, Workout and Commercial Litigation Matters
Washington Federal v. Harvey / Washington Federal v. Gentry, 340 P.3d 335 (Wash. S. Ct. 2015). Represented Washington Federal in a case where the Washington Supreme Court upheld the right of a lender to obtain a deficiency judgment against a commercial guarantor even if the foreclosed deed of trust also secured the guarantors’ guarantees
Washington Federal v. Mark A. McNaughton, et al. 325 P.3d 383 (Wash. Ct. App. 2014). Represented Washington Federal in a case where Division 1 of the Washington Court of Appeals strengthened the ability of a real estate-secured lender to cost-effectively obtain a deficiency judgment against a commercial guarantor
Represented bank group in complex Article 9 private sale of operating technology company
Represented national lender in the nonjudicial foreclosure of 180-unit condo project in Tacoma, Washington
Represented federally chartered bank in various real estate foreclosures, receiverships and deed in lieu transactions involving commercial and residential real estate projects at all stages of completion
Represented lender in restructure of matured residential development loans that were ultimately paid off without a loss
Represented national finance company in the appointment of a receiver and judicial foreclosure of an operating golf course
Represented state-chartered bank in the appointment of a receiver over lumber company borrower
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Obtained Rule 12(b)(6) dismissal in favor of national bank in a lender liability lawsuit
Obtained deficiency judgments against guarantors following nonjudicial foreclosures
Defended finance company in multi-state lender liability lawsuits
Represented Foreign Representative in one of the first Chapter 15 Bankruptcy Cases filed in the U.S. (In re Thow)
Represented purchaser of partially completed commercial vessel in the case of (In re Nichols Bros. Boat Builders)
Represented lenders and finance companies in cash collateral, relief from stay, objection to discharge, adequate protection, plan confirmation and related issues arising in various bankruptcy cases
Publications
“Washington Supreme Court Affirms Washington Federal v. Gentry and Confirms Lenders’ Right to Obtain Deficiency Judgments Against Guarantors Following Nonjudicial Foreclosure,” Lane Powell Legal Update, Co-author (January 8, 2015)
“Lean Six Sigma: Are You and Your Vendors Sufficiently Focused on Process Improvement?” Issues and Answers magazine, Washington Bankers Association (July/August 2014)
“Washington Court of Appeals Confirms Lenders’ Right to Obtain Deficiency Judgments Against Guarantors Following Nonjudicial Foreclosure of Commonly Used Form of Deed of Trust,” Community Banker magazine, Co-author (Summer 2014)
“Lessons From the Wake of Economic Collapse: Avoiding Personal Liability in Loan Origination and Restructuring,” Issues and Answers magazine, Washington Bankers Association
(May/June 2013)
“The Importance of Ancillary Collateral in Real Estate Financing: When the Dirt Alone Will Not Suffice,” Issues and Answers magazine, Washington Bankers Association (March/April 2012)
“Protecting Written Loan Terms in an Evolving Environment,” Issues and Answers magazine, Washington Bankers Association (November/December 2011)
“The Cost of Credit — How to Improve Your Chances of Collecting Accounts Receivable in a Down Economy,” Seattle Business magazine (December 2010)
“Judgment Enforcement in Washington: Third-Party Collection Matters,” Lorman Educ. Services (2009)
“Priorities Between Competing Security Interests and Liens,” Lorman Educ. Services (2007)
“Default, Repossession, and Disposition of Collateral,” Lorman Educ. Services (2007)
“Default and Enforcement of Security Interests,” UCC Revised Article 9 Deskbook, Washington State Bar Association, Co-author
“Lease vs. Secured Transaction: What’s the Difference,”Business Law Section Newsletter, Washington State Bar Association, Co-author
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Speaking Engagements
“When Obscure Laws Attack! A Discussion of Traps for the Unwary Commercial Lender,” The Risk Management Association Puget Sound Chapter Dinner Meeting, Co-presenter (May 3, 2016)
“Blurred Lines: Individual Debtors and Their Nondebtor Limited Liability Companies,” Oregon State Bar’s 27th Annual Northwest Bankruptcy Institute, Co-presenter (April 25, 2014)
“FDIC Insight — Loss Share Decision Making and Workout Issues and Other Regulatory Matters Impacting the Lending Environment,” TMA Cross-Border Conference (September 9, 2011)
“Maximizing Lender Recovery and Minimizing Risk on Condominium and Residential Projects Held as Collateral or REO,” Lane Powell Seminar (June 17, 2010)
“Third-Party Collection Matters,” Lorman Educ. Services (2009)
“Priorities Between Competing Security Interests and Liens,” Lorman Educ. Services (2007)
Awards and Honors
Recommended by Chambers USA: America’s Leading Lawyers for Business, Bankruptcy/Restructuring (2016)
Selected “Future Star” by Benchmark Litigation (2016)
Named as a “Washington Rising Star,” Super Lawyers® magazine, Bankruptcy & Creditor/Debtor Rights: Business (2005-2015)
AV Preeminent® in Martindale-Hubbell® Peer Review Ratings™
Professional and Community Activities
Fellow, American College of Commercial Finance Lawyers
Member, American Bar Association, Business Law Section
Co-chair, Task Force for Security Interests in LLC and Unincorporated Entities
Commercial Finance Committee
Uniform Commercial Code Committee
Member, Association of Commercial Finance Attorneys
Member, Washington State Bar Association, Business Law Section, UCC Committee
Member, King County Bar Associations
Member, Pierce County Bar Associations
Member, Equipment Leasing Association
Board Member and Past President, Turnaround Management Association Northwest Chapter
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