At Edwards Angell Palmer & Dodge LLP, we have extensive experience working with ISDA documentation and derivative products. We have counseled on billions of dollars in notional amount of swap transactions for swap providers and borrowers, including: financial institutions and insurance companies such as Bear Stearns & Co., Goldman Sachs & Co., UBS AG, and governmental entities including, Boston Museum of Fine Arts, Brown University, Lakeland, FL, Massachusetts Development Finance Agency, Massachusetts Housing Financing Agency, Palm Beach County, FL and Shelby County, TN. In addition, we have significant experience in the delicate intersection of derivative products and bankruptcy issues. Our lawyers worked on the development of Feline PRIDES and other hybrid instruments. We regularly counsel on the enforceability of various derivative products in bankruptcy as well as help design them.
Our transactions include: - Represented an insurance and reinsurance company in negotiation of event loss swaps in notional amounts of $50, $20 and $10 billion.
- Represented a US public company in a commodity swap agreement.
- Represented Shelby County, TN in connection with over $2.5 billion in notional amount of interest rate swaps with Goldman Sachs Mitsui Marine Derivative Products, L.P., J.P. Morgan, Morgan Guaranty Trust Company of New York, Morgan Stanley Capital Services and Morgan Keegan & Company, Inc.
- Represented UBS AG on an interest rate lock Agreement with Citizens Property Insurance Corporation of Florida, with a notional amount of approximately $330 million.
- Represented the Solid Waste Authority of Palm Beach County in a $267 million forward interest rate swap with AIG Financial Products.
- Represented The Memphis and Shelby County Sports Authority in a $202 million basis swap with Goldman Sachs.
- Represented UBS AG on an interest rate lock was with South Broward Hospital District, with a notional amount of approximately $100 million.
- Represented UBS AG on an interest rate swap with Broward County, Florida with notional amount of $86.6 million.
- Represented the Chicago Mercantile Exchange in the sale of the futures merchant Refco, LLC, in the Refco bankruptcy case.
Publications/Speaking Engagements:
Our attorneys regularly serve on panels and publish articles concerning various aspects of derivative products, including:
- Panelist, American Bankruptcy Institute14th Annual Northeast Bankruptcy Conference, “Beyond Notes and Security Agreements-Financial Instruments and Financial Industry Transactions: What Do They Look Like and How Do They Work?” (Upcoming, July 2007).
- Panelist, 80th Annual National Conference of Bankruptcy Judges, “Wall St. Comes to Main St.: The Effects of the Code's Capital Markets Protections on Your Cases” (Nov. 2006).
- “Derivatives in Bankruptcy,” 60 Business Lawyer 1507 (2005).
- “Swaps in Bankruptcy,” presentation to Moody’s Investors Service (2005).