Claims Trading

puzzle pieces
Our business restructuring lawyers have represented numerous investors in all aspects of buying and selling claims against entities in U.S. reorganization and liquidation cases  as well as in  international insolvency proceedings.

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Our business restructuring lawyers have represented numerous original and secondary investors in all aspects of the acquisition, sale and resolution of claims against entities in insolvency proceedings across jurisdictions worldwide, including Enron Corp, Lehman Brothers, Madoff, and MF Global.  These transactions have included:

  • Extensive diligence and market analysis of complex financial assets within a short time frame.
  • Analysis of various transaction related documentation, including credit agreements, prime brokerage, securities lending and derivative contracts, settlement agreements, leases, employment and supply contracts.
  • Advice on interaction with the relevant bankruptcy regimes and strategies to maximize economic recoveries while minimizing legal and tax risk resulting from transfers of and participations in the target assets.
  • Negotiation and documentation of trade confirmations, confidentiality agreements, sale and purchase agreements, participation agreements, and credit support documents. 
  • Monitoring distributions and claims administration and management, including enforcement actions.

The amount of transactions closed to date exceeds several tens of billions, and the claims purchased are diverse in nature, including derivative claims, guarantee claims, litigation claims, general unsecured claims, customer property claims, bonds and structured security claims, net equity claims, lease claims and other claim types.  These transactions are the most complex in the marketplace and the documents prepared often establish market standards.