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Morrison | Foerster
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Practices and Industries
Financial Transactions
Asset-Based Lending
Cross-Border and Domestic Private Placements
Equipment Leasing and Vendor Financing
Project Finance and Development
Secondary Debt Trading and CLOs
Syndicated and Other Lending Transactions



Industry Expertise:

Related Practices:

Secondary Debt Trading & CLOs

Overview

Contact:   Charles M. Cole or William S. Veatch

Morrison & Foerster’s debt trading practice is among the best known in the industry. The firm’s debt trading specialists represent many of the largest players in the marketplace, including numerous investment banks, commercial banks, hedge funds and asset managers as well as collateralized loan obligation vehicles (CLOs) and collateralized debt obligation vehicles (CDOs).

Morrison & Foerster offers debt-trading clients high quality and comprehensive advice and services that address all facets of secondary market trading of commercial loans and other debt assets.

The firm’s debt trading practice focuses on three general types of trading activities: trading distressed debt; trading par debt; and transfers of portfolios of debt assets ( e.g ., pursuant to auctions or securitization transactions such as CLOs and CDOs).

Morrison & Foerster’s debt trading experience includes:

  • Advising clients regarding credit and transfer documentation, collateral, bankruptcy matters, workouts and restructurings;
  • Resolving disputes arising from failed trades;
  • Advising clients regarding fraudulent conveyance, preferential transfer, lender liability and disgorgement risks; and
  • Providing regulatory advice regarding bank, tax, ERISA, securities and investment adviser issues.

In addition to the firm’s work involving loans owed by U.S.-based corporations, Morrison & Foerster also represents several clients in connection with a large volume of trades of loans and claims owed by European, Latin American, Asian and other non-U.S. entities from its offices in New York, Washington, Los Angeles and London.

The firm’s debt trading practice includes attorneys with expertise in the areas of banking, securities, structured finance and derivatives. As needed, attorneys with insolvency, tax, ERISA, securities, and other expertise assist the firm’s debt trading specialists to resolve issues arising in connection with debt trades and other matters.

The firm’s debt trading attorneys are active members of the Loan Syndications and Trading Association (LSTA). Several of the firm’s attorneys regularly participate in committees established by the LSTA to promote the liquidity and efficiency of the market.