Patrick Maschio leads the Distressed Investing and Claims Trading team in the Banking & Finance practice group. His practice involves counseling hedge funds, banks, and brokers-dealers who are involved in the purchase and sale of general unsecured claims, bank loans and restricted securities of foreign and domestic companies.
What do you focus on?
Claims Trading Experience
I have extensive experience 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., MF Global Australia Limited and MF Global UK.
Secondary Market, Loan Trading
I represent clients involved in the purchase and sale of par and distressed bank loans of domestic and foreign companies under the standards established by the Loan Syndication and Trading Association (LSTA) and the Loan Market Association (LMA) as well as experience reviewing underlying credit documents, bankruptcy dockets, predecessor transfer agreements and advising clients on issues involving material non-public information. I am currently on the LSTA Trade Practices and Forms Committee.
Post-Reorganization and Restricted Securities
I frequently advise 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.
What do you see on the horizon?
In the secondary market, there will always be demand for attorneys who respond to clients’ time-sensitive demand for document review and deadline-driven results. I intend to do whatever I can to make sure my clients receive the counsel they need, when they need it.