Patrick Maschio leads the Distressed Investing and Claims Trading team in the Global Finance practice group. His practice involves counseling hedge funds, banks, and brokers-dealers involved in the purchase and sale claims against, bank loans to, and securities of foreign and domestic companies.
Claims Trading Experience
Mr. Maschio has extensive experience in representing clients who purchase and sell a variety of priority and non-priority general unsecured claims against bankrupt companies, including, among others, Lehman, American Airlines, Circuit City, Nortel Networks, General Motors, BLMIS (Madoff), Enron, and Delta Air Lines; customer property claims against MF Global; as well as claims against foreign debtors, including Swiss Air (SAIR Group), Pasminco Limited, Pire Silver Company Pty Ltd., and MF Global Australia Limited.
Secondary Market, Loan Trading
Mr. Maschio represents clients involved in the purchase and sale of par and distressed bank loans of domestic and foreign companies. He has extensive experience with the negotiation and drafting of all related transaction documents established by the Loan Syndication and Trading Association (LSTA) and the Loan Market Association (LMA) as well as experience reviewing underlying credit documents and predecessor transfer agreements, and advising clients on issues involving material non-public information. Mr. Maschio is on the LSTA Trade Practices and Forms Committee and is actively involved in current revisions to the LSTA Collateral Annex.
Post-Reorganization and Restricted Securities
Mr. Maschio frequently advises clients in connection with the transfer of post–reorganization equities obtained pursuant to Bankruptcy Rule 1145 and rights offerings made to various classes of creditors, as well as with transfers of restricted stock pursuant to various exemptions from registration under U.S. securities laws.