As one of the few firms to work in this area since its infancy, Brown Rudnick has seen first-hand the unique issues that can arise with respect to particular borrowers, credit agreements and bankruptcies.

Brown Rudnick is an internationally-recognized leader in the distressed debt and claims trading industry. We are frequently consulted by clients as well as the two main trade associations – the Loan Market Association (LMA) and the Loan Syndications and Trading Association, Inc. (LSTA) – regarding developments and legal practices.

We understand the sanctity of executed trades between counterparties and the critical importance of “getting the deal done” once a transaction is agreed. Our buy-side focus arms us with an intimate appreciation of the goals and priorities for investors in this class. Our experience in this area, and understanding of the carefully thought-out risk allocation determinations that the market has made, enables us to distinguish between real-world issues and those “reinventing the wheel” points that inexperienced practitioners raise.

We possess a wealth of relevant experience across multiple practice areas, allowing us to navigate complex and often unchartered distressed debt issues, with seasoned proficiency in corporate lending, bankruptcy, restructuring, litigation and credit derivatives.

We advise clients at all stages of a debt transaction, including:

Stock purchase agreements in connection with equity trades

Confidentiality agreements

Trade confirmations

Due diligence

Par and distressed debt purchase and sale agreements

Par and distressed participation agreements

Claim purchase agreements

Proceeds letters

Netting letters

Strategies for restructurings, reorganization and litigation

Interaction with creditors’ committees

Drafting of policies and procedures

Documentation of physical settlement

Distressed Debt & Claims Trading Group Leaders

Steven F. Wasserman

PARTNER

New York, NY

+1.212.209.4999

Louisa Watt

PARTNER

London, UK

+44.207.851.6141