Although located in the Los Angeles and Phoenix offices, Craig's practice spans throughout the United States and its territories. Craig serves as Co-Leader of the Non-Bank Lending Team in the firm's Banking and Financial Services Industry Group. Craig is focused primarily in the areas of real property, retail/restaurant/hospitality, and finance/banking law. His experience also encompasses significant bankruptcy restructuring matters, and trial work on both the state and federal levels. Craig has focused his efforts on assisting clients with distressed asset workouts on the banking and real estate side.
As it relates to Craig's real estate and finance practice, he frequently counsels clients on strategies ranging from asset acquisition and dispositions, to leveraged transactions on both the buy and sell side. Craig assists dealmakers navigate both the distressed and organic markets to source and engineer creative solutions – resulting in accretive transactions for the client. Craig often consults with private equity groups, REITs, hotel operators, and family offices, to establish internal and external strategies in order to implement a formal protocol to manage the transactional-side acquisition and disposition processes. Craig also handles pre-litigation workouts for financial institutions and various real estate entities as it relates to distressed asset scenarios.
Services
- Litigation
- Commercial Litigation and Dispute Resolution
- Bankruptcy and Restructuring
- Securities Enforcement and Corporate Governance Litigation
- REITs
- Real Estate and Construction Litigation
- Distressed Real Estate
- Distressed Office Buildings
- Distressed Assets and Opportunities
- Banking and Financial Services
- Western Real Estate Finance
- Real Estate Private Credit and High-Yield
Experience
Representative Matters
- In 2022, Craig and his team again assisted on the closing of over $2B in various real estate and finance related transactions for numerous REIT and lending clients.
- In 2022, Craig represented a publicly traded REIT accused of multiple wrongdoings, including an allegation of fraud on the closing of a real estate transaction. Craig and his team reduced the causes of action through a motion to dismiss, and succeeded on several motions for summary judgment resulting in a complete dismissal of the case and an award of fees and costs. Craig and his team then prevailed in the appellate phase, along with an award of fees and costs.
- In 2022, Craig represented a lender group in multiple lawsuits arising out of several credit-tenant leases involving a large municipality. The lender group’s exposure was in excess of $130M, and the tenant and taxpayers lawsuits included remedies that could have resulted in the lender being forced to completely release its security interest in the collateral. Craig and his team prevailed on summary judgment in one of the lawsuits, and resolved another lawsuit resulting in 100% of the principal loan balance ($130M+) being returned to the lender group which included default interest, and a 100% recoupment of fees and costs.
Professional Highlights
Professional Activities
American Bankruptcy Institute
Maricopa County Bar Association
International Council of Shopping Centers (ICSC)
Recognition & Accomplishments
The Legal 500 US, Real Estate–Real estate investment trusts (REITs), 2018-2023
The Best Lawyers in America, Real Estate Law, (Phoenix) 2017-2024
Named by IFLR 1000, "Rising Star—Arizona" 2018, 2019; "Highly Regarded— Arizona," 2020-2023 for restructuring and insolvency
Speaking Engagements
"Ethical Issues in Bankruptcy," Arizona State University, Sandra Day O'Connor College of Law, March 5, 2020
Guest, "Retail Market Update, Trends, and Strategies," America's Commercial Real Estate Show podcast, May 1, 2019
"Cutting-Edge Issues in Avoidance Actions," American Bankruptcy Institute's Southwest Bankruptcy Conference, Las Vegas, NV, September 7, 2018
Board Memberships & Community Service
Arizona Foundation for Legal Services, Governmental Relations Committee, past Board Member (2005-2007)
Publications
Co-author, "Ninth Circuit Finds that 1111(b) Deemed-Recourse Rights Do Not Survive Foreclosure of Underlying Property," The Bankruptcy Strategist, July 2017
Co-author, "Landlords, Beware! When Does the § 502(b)(6) Calculation Start?" American Bankruptcy Institute Journal, August 2016
Co-author, "Beware of Fed. R. Bankr. P. 7008: Seeking Attorneys’ Fees in Adversary Proceedings," American Bankruptcy Institute Journal, March 2013
Credentials
Education
Southwestern Law School (J.D. 2001)
Trial Advocacy Honors Program
University of Arizona (B.A. 1997)
Admissions
Arizona
California
Texas