![lihtc-valuation---mark-bossi_16077174588_o](https://www.thompsoncoburn.com/images/default-source/blogs/lihtc-valuation---mark-bossi_16077174588_o.jpg?sfvrsn=53f471ea_4)
In any workout or bankruptcy, it is important to understand the value of a lender’s collateral, because the value of the collateral will largely determine the amount of the lender’s recovery. This is particularly true in a workout or bankruptcy involving an LIHTC project because under the federal LIHTC program, once a project is placed into service, all senior debt of the project owner must be non-recourse to the partnership and its partners. READ MORE