Distressed Debt and Non-Performing Loan Portfolio Purchases 
                                                                     

The distressed debt and non-performing loan markets have grown significantly in the last several years, and have sky-rocketed since the fall of 2008, as sellers across the world are forced to address the issue of how to deal with their under-performing assets for a variety of reasons ranging from the introduction of BASEL II, to the removal of state guarantees from the Landesbanks in Germany to the current financial crisis.  These factors have brought an ever increasing number of sellers to the non-performing loan market. Maalouf Ashford & Talbot has advised both sellers and buyers on the sale and purchase of non-performing loans in a wide variety of jurisdictions in Latin America, Europe and Asia. Our firm is experienced in structuring, negotiating and documenting all aspects of the sale and purchase of non-performing loan portfolios from the debt and/or equity financing of any special purpose vehicles being used to acquire the assets through to negotiation of any third party servicing arrangements. We understand the complexities involved in investing in non-performing assets in emerging market jurisdictions and are sensitive to the regulatory issues that may be involved in a foreign investor purchasing and restructuring non-performing loans and repatriating returns. We pride ourselves on our ability not only to spot the issues but to provide our clients with a variety of possible solutions. We are well versed in working with local counsel and managing the delivery of legal services to ensure that our clients receive a seamless, integrated service.

      Representative Transactions 

Represented the buyer in its purchase of revolving indebtedness and ancillary letter of credit indebtedness in aggregate principal amount of CHF 56,000,000 under a multi-tranche multi-currency syndicated facility provided to a Swiss company and its foreign subsidiaries.

      Represented the seller in its sale by participation of revolving indebtedness and ancillary letter of credit indebtedness in aggregate principal amount of CHF 42,000,000 under a multi-tranche multi-currency syndicated facility provided to a Swiss company and its foreign subsidiaries.

      Advised the seller in its sale by assignment of term loan indebtedness in the principal amount of $18,000,000 under a multi-tranche syndicated credit facility provided to a Venezuelan company and its subsidiary. 

      Represented the seller in its sale by participation of revolving, term and letter of credit indebtedness in the aggregate principal amount of $10,000,000 under a multi-tranche, syndicated credit facility.

      Represented an investment bank in the purchase of an NPL Portfolio in Hong Kong.  Avised an investment bank on the structuring and incorporation of a securitization fund in Russia.

      Represented an investment bank on the bid and subsequent purchase of a NPL Portfolio in Dubai. Advised investment banks on bids for various NPL Portfolios in China.