At a Glance
John K. McAndrew is a Partner in the firm's Secured Lending and Financial Recovery Department, who concentrates his practice in workouts, foreclosures, bankruptcy, and commercial litigation. Mr. McAndrew has over 25 years of experience with New York State’s complex laws governing commercial and consumer foreclosure actions and related matters. He represents traditional banks, special servicers for CMBS Trusts, private equity lenders and others with regard to commercial foreclosure actions, workouts and loan modifications throughout New York State. Mr. McAndrew also represents clients in loan sales, commercial litigation, bankruptcy litigation, receiverships, Article 9 sales, replevin actions, mechanics lien litigation and workout negotiations.
- Mr. McAndrew has lectured extensively on foreclosures, bankruptcy proceedings and workout strategies for the New York State and Monroe County Bar Associations, the local banking community and national lending institutions.
- Contributing author to Real Estate Titles, the New York State Bar Association's preeminent publication on the practice of Real Estate Law in New York State.
- Mr. McAndrew has provided commentary and advice to the New York State Bar Association on proposed legislation affecting foreclosure practice.
Cornell University Law School, J.D., Concentration in Business Law and Regulation
State University of New York, University Center at Binghamton, B.A.
State of New York
United States District Courts for the Western and Northern Districts of New York
United States Bankruptcy Courts for the Western and Northern Districts of New York
Key Representative Matters
- Representative clients include: ACRES Capital Corp.; C-III Asset Management, LLC; Five Star Bank; Genesee Regional Bank; KeyBank Real Estate Capital; Manufacturers and Traders Trust Company; S&T Bank; T2 Capital Management; and Wells Fargo Bank, N.A.
- Foreclosure of CMBS Trust loan portfolio secured by 13 parcels, including apartments, industrial, office and mixed use properties, resulting in Judgment of Foreclosure in excess of $100 million and interim distributions from Receiver of $1.5 million prior to sale and $3 million post sale.
- Foreclosure of private equity lender’s $38 million construction loan secured by student housing project.
- Dismissal of debtor’s Chapter 11 bankruptcy case on grounds of bad faith filing.
- Defeat of Chapter 11 bankruptcy plan confirmation and dismissal of case through control of secured and unsecured classes of creditors.
- Successful resolution of creditor’s title claim stemming from borrower claim of fraud.
- Resolution of $4 million loan portfolio by deed in lieu of foreclosure, voluntary surrender of collateral and subsequent property and equipment auctions.
- Multiple foreclosures of CMBS Trust loans secured by hotel properties, involving receiverships and preservation of flag affiliations for hotels.
- Foreclosure of $14 million construction loan secured by senior housing facility involving mechanics’ lien litigation and receivership.
- Foreclosure of private equity lender’s $1.8 million construction loan secured by apartment complex.
- Foreclosure and receivership of $5.2 million CMBS Trust loan secured by commercial shopping plaza.
- Representation of client on purchase of commercial loan secured by two hotels and subsequent litigation related to foreclosure, receivership, bankruptcy and insurance loss claim.
- $4 million matured loan obligation successfully resolved by loan sale and non-recourse assignment.
- Turnaround Management Agency
- Monroe County Bar Association, Bankruptcy Committee
- Central New York Bankruptcy Bar Association
- American Bankruptcy Institute
- 7-1-20 As seen in The Daily Record - Court reverses its own ruling in foreclosure case involving Masaschi
- 5-4-19 As Seen in the Buffalo News - Court: Former Monarch 716 onwers individually owe $26 million to lender.
- 4-8-19 As Seen in the Buffalo News - Monarch 716 sold at foreclosure auction for $14 million. John K. McAndrew, Esq. and William F. Savino, Esq. Are Co-Counsel for the Foreclosing Lender
- 4-8-19 As seen in Buffalo Business First - Monarch 716 has new owners, but for how long?
- 11-8-2016 Woods Oviatt's Fall 2016 Newsletter