PRACTICE AREA - Bank Debt and Claims Trading


Bank Debt and Claims Trading

Kleinberg Kaplan’s Bank Debt and Claims Trading Practice has many years of experience representing hedge funds, investment banks and other financial services firms in connection with the purchase and sale of par and distressed bank loans as well as the purchase and sale of other monetary claims against companies in bankruptcy or subject to insolvency proceedings. As a member of both the Loan Syndication and Trading Association (LSTA) and the Loan Market Association (LMA), our Bank Debt and Claims Trading Practice is proficient with the secondary market trading documentation published by both organizations.

We assist clients in all aspects of bank debt and claims trading including organizing new vehicles to purchase the loans (which may be desirable for tax or other reasons), negotiating confidentiality agreements and analyzing credit agreements. Additionally, we advise on bankruptcy, income tax, withholding tax, ERISA and securities law issues pertaining to the possession of material non-public information. For derivatives and other financial products, we assist clients in the analysis and due diligence in connection with the purchase or sale of financial claims arising under ISDA Master Agreements.

In addition to our experience in transactional matters, our Litigation and Bankruptcy / Workout attorneys represent investors in various types of bank debt litigation. We represent secondary holders of bank debt and other claims with respect to the assertion of causes of action that were transferred with such claims. In particular, Kleinberg Kaplan has been lead or co-counsel in some seminal cases including:

  • Enron Transferee Litigation (whether equitable subordination and disallowance “travels” with the debt)
  • Owens Corning (recusal of Judge Wolin and appeal of equitable subordination)
  • Lehman Brothers Holdings (representation of member of official committee of unsecured creditors)
  • Delphi (strategic role advising one of the largest claimholders with respect to transaction consummating the exit from bankruptcy)

With its cross-disciplinary approach, Kleinberg Kaplan is able to advise clients with respect to all strategic and tactical aspects relating to secondary debt transactions and to do so in an efficient, effective and prompt manner that is responsive to clients’ objectives.

 

 


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