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Sherilyn Olsen

Partner

222 South Main Street, Suite 2200, Salt Lake City, UT 84101

Sherilyn Olsen helps clients resolve problems with loans in default.

Her practice includes advising lenders and borrowers regarding loan workouts and restructuring, collection procedures, and bankruptcy law and procedure. She also assists lenders in seeking the appointment of a receiver to protect assets and/or to operate a business's pending foreclosure.

Sherilyn negotiates and drafts loan modification documents and pursues repayment of loans in default. In bankruptcy court, she prosecutes and defends relief from stay motions, cash collateral motions, claim objections, motions to dismiss, preference and fraudulent transfer actions, lien avoidance actions, and nondischarageability claims.

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Client Results

Bankruptcy Representation
  • Represented lender in opposing chapter 11 plan of reorganization, which proposed to drastically alter loan terms to lender’s detriment.
  • Represented lenders in seeking relief from stay, negotiating cash collateral orders, and moving to dismiss bankruptcy case.
  • Represented bankruptcy trustee in prosecuting claim objections.
  • Defended motion to dismiss chapter 11 bankruptcy case in a three-day bench trial.
  • Prosecuted nondischargeable judgment against debtors in a two-day bench trial.
  • Defended nondischargeability action against debtors before bankruptcy court, Bankruptcy Appellate Panel for the Tenth Circuit, and the Tenth Circuit Court of Appeals.
  • Represented chapter 11 debtor seeking orderly liquidation of regional modular building fleet.

  • Represented chapter 11 debtor seeking to reorganize hotel in southern Utah.
  • Represented chapter 11 debtor seeking to reorganize restaurant in Park City, Utah.
  • Represented chapter 11 debtor in pursuing preference and fraudulent transfer claims against creditors.
  • Represented creditors in filing an involuntary chapter 11 petition and succeeded in confirming a plan of reorganization over the debtor’s objection which allowed clients to take over large real estate development in Soldier Summit, Utah.
  • Representation of court-appointed receiver over aerospace parts treatment company.

  • Representation of court-appointed receiver over company seeking to liquidate substantial patent and trademark portfolio.

Loan Workouts
  • Representation of lender in negotiating and drafting loan modification documents for loan facilities totaling $20,000,000 with Salt Lake City manufacturing company.
  • Representation of lender in negotiating and drafting loan modification document for $21,000,000 mixed use development in Salt Lake City, Utah.
  • Representation of lender in negotiating and drafting loan modification documents for $12,000,000 real estate development in Park City, Utah.
  • Representation of lender in negotiating and drafting loan modification documents for $4,000,000 loan facility with real estate development in Springville, Utah.
  • Representation of lender in negotiating and drafting loan modification documents for $4,000,000 loan on an auto dealership in Salt Lake City, Utah.
  • Representation of lender in negotiating and drafting loan modification documents for $2,000,000 nonprofit organization in Provo, Utah.
Receivership/Foreclosure
  • Representation of lender in seeking the appointment of a receiver pending foreclosure of an unfinished real estate development in Park City, Utah. Representation included negotiating development agreements with Summit County, resolving disputes with neighboring landowners and the homeowners’ association, and coordinating engineering and construction of road.
  • Representation of lender in seeking the appointment of a receiver pending foreclosure of an organic onion farm in Tremonton, Utah.
  • Representation of lender in seeking the appointment of a receiver pending sale of a gas station in Magna, Utah.
  • Representation of lender in seeking the appointment of a receiver pending foreclosure of assisted living centers in Provo and West Jordan, Utah.
  • Representation of lender in seeking the appointment of a receiver of dental practice pending foreclosure in Salt Lake City, Utah.
  • Act as trustee in foreclosure of real estate developments and commercial properties throughout Utah.

News

Speaking Engagements

Education

Bar Admissions

Court Admissions

Recognition

  • Forty Under 40, Utah Business Magazine, 2014
  • Utah Business Magazine, Utah 100 Elite, Utah Legal Elite, 2007-2018
  • Mountain States Super Lawyers® Rising Stars, 2008, 2010-2012

Professional and Civic Affiliations

  • Treehouse Museum, Member
    Board of Trustees, 2012-present
  • Utah State Bar, Member
    Character & Fitness Committee, 2010-present
    Unauthorized Practice of Law Committee, 2006-2010
  • Bankruptcy Lawyers Forum
    Board of Trustees, 2005-2015
    President, 2006-2009
  • Turnaround Management Association, Rocky Mountain Chapter
    Board Member, 2007-2013
    Sponsorship Committee, 2009-2013
  • Oh, The Places You’ll Go: A Career in Law and How to Get Started
    Founding Member, 2004-2007
  • American Bar Association, Member, 2002-present
  • American Bankruptcy Institute, Member, 2002-present
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