One Renaissance Square
Two North Central Avenue
Scott Klundt’s practice focuses primarily on commercial litigation and creditors’ rights. He has extensive experience representing secured and unsecured creditors. Using pre-judgment and post-judgment creditors’ remedies, including replevins, attachments, garnishments and receiverships, he has enabled creditors to move quickly to protect and recover their collateral and to collect indebtednesses owed to them. Mr. Klundt has been involved in numerous judicial and non-judicial foreclosures of real property liens and in enforcing landlord’s rights against their tenants, including eviction actions and lock-outs. Representative cases include:
- Obtaining a receiver over, and handling the trustee’s sale of, a portion of the Westgate City Center, comprising 95 acres of open land and parking lots securing a $202 million loan.
- Obtaining a receiver over, and handling the trustee’s sale of, the InterContinental Montelucia Resort & Spa, a 34-acre resort featuring 253 guest rooms, 40 suites, five pools, 27,000 square feet of meeting space, two signature restaurants, and a 31,000-square-foot spa, along with 12 single-family detached villas, in response to a borrower’s default on a $180 million construction loan.
- Initiating trustee’s sale proceedings on The W Scottsdale Hotel, a 224-room hotel and 18-unit condominium project securing an $83 million construction loan.
- Initiating trustee’s sale proceedings over High Street, the 24-acre first phase of the CityNorth retail project in northeast Phoenix, which includes 175,000 square feet of retail and restaurant space, 330,000 square feet of office space, and 99 condominiums, as a result of the borrower’s default on a $290 million construction loan.
- Obtaining the appointment of a receiver over, and initiating trustee’s sale proceedings on, five apartment projects with a combined total of 2,420 units after the borrower defaulted on its payments on a $160 million loan.
- Obtaining a receiver over a Phoenix-area golf course (which, in 2001, had been ranked as one of the top 10 new public golf courses in the U.S.) and conducting a nonjudicial foreclosure of the lender’s interest in the property.
- Obtaining a receiver over two motels located near the airport in Tucson, Arizona, in connection with a dispute between the owners.
- Filing a lawsuit in Nevada to enforce the obligations of guarantors in connection with a $9.1 million loan to the operator of an assisted living care facility.
- Obtaining a pre-judgment garnishment of a bank account to collect a $1.1 million debt, resulting in the seizure of $1.4 million that was in the account.
- Obtaining a pre-judgment replevin of, and coordinating with the county sheriff to seize, medical diagnostic equipment securing payment of a $1.8 million loan.
- Advising commercial landlords regarding rights and remedies for handling defaulting tenants, including exercise of statutory landlord’s lien.
Education and Honors
- Brigham Young University (J.D., magna cum laude, 1988)
Brigham Young University Law Review (Editor). Order of the Coif.
- Brigham Young University (B.A., magna cum laude, 1985)
U.S. Court of Appeals, 5th Circuit, 2003
U.S. District Court, District of Arizona, 1988
Professional and Civic Activities
- State Bar of Arizona (Member).
- American Bar Association (Member).
- Maricopa County Bar Association (Member).
Presenter, “Exit Strategies: DPOs, Deeds-In-Lieu, Foreclosure & Sales/Borrower Finance,” 4th Annual Bank & Financial Institutions Special Assets Executive Conference on Real Estate Workouts (West), September 9, 2013.