Representative Experience

Sample derivatives transactions and matters handled by David include representing:

• A broad range of national and international end-users and providers on compliance matters relating to the Dodd-Frank Act, related CFTC and SEC regulations, and EMIR, together with related documentation matters.
• One of the nation’s largest public pension funds in renegotiating swaps and derivatives master agreements with its trading partners and in negotiating agreements with futures commission merchants in connection with clearing activities resulting from the Dodd-Frank Act.
• Derivatives counterparties to Lehman Brothers entities in connection with the Lehman bankruptcies.
• The State of Wisconsin in the negotiation and execution of multiple interest rate swaps relating to its US$1.8bn general fund annual appropriation bonds.
• Numerous health care systems in the negotiation, termination or novation of interest rate derivatives and in the renegotiation, novation or termination of derivatives portfolios in connection with system reorganizations and mergers.
• A university foundation in its first index-based credit derivatives transaction.

In addition to David’s extensive experience in a broad range of student loan asset-backed securities transactions and in representing education finance clients in matters before various federal agencies, sample transactions and matters handled by David include representing:

• The State of Wisconsin in connection with the sale and US$1.6bn securitization of its tobacco settlement receipts.
• Tax-exempt organizations and affiliated for-profit entities in IRS audits involving related party transactions and tax-exempt student loan asset-backed securities.
• Federal Family Education Loan Program lenders in connection with U.S. Department of Education 2008-2010 liquidity programs under the Ensuring Continued Access to Student Loans Act of 2008.
• Potential purchasers and targets active in higher education finance.
• Lenders and loan servicers in the negotiation of loan servicing agreements and the sale and purchase of loan portfolios.
• The underwriters and acting as special corporate counsel in the country’s first taxable conversion of an Internal Revenue Code section 150(d) student loan issuer and the issuance of over US$923m of student loan asset-backed notes in connection therewith. The transaction involved the transfer by the issuer of its student loan assets, business and operations (including its own servicing system) to a taxable subsidiary, and an SEC registered financing involving a senior/subordinated debt structure with 12 series of asset-backed notes, including tax-exempt auction rate notes, tax-exempt fixed rate notes, taxable auction rate notes and taxable LIBOR rate notes. The financing provided funds for loan purchases and originations and refunded eight outstanding issues of tax-exempt and taxable debt.
• Lenders in litigation against third-party servicers arising from deficiencies in loan servicing.