Herrick helps its clients succeed in highly leveraged asset-based lending transactions involving multiple lenders or borrowers, multiple jurisdictions or countries, sophisticated inter-creditor issues, and specialized or unique collateral. Our sub-specialties include purchase order and trade finance as well as loans to law firms.
For Lenders and Financiers:
Herrick advises institutional lenders and commercial finance companies on secured transactions, structured finance, and factoring, including:
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analysis and structuring of transactions
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documentation
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restructuring and reorganization
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work-outs (in and out of court)
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collateral liquidation
For Corporations:
We advise companies in their asset-based and corporate lending activities, including senior secured credit, mezzanine debt and debtor-in-possession facilities. In the area of structured finance, we represent originators, providers of credit enhancement and liquidity facilities, servicers, and purchasers.
Highlights:
Our experience covers a remarkable range of creative asset securitization. Here are a few examples:
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A senior secured loan, secured by, among other things, a blood bank and its assets, including its tissue samples.
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The securitization of lottery winnings.
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A loan secured by pools of state funds for medical training and for indigent care.
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Loans secured by medical and drug patents and licenses in various countries.
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A credit line secured by an international fleet of limousines.
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A senior secured credit facility secured by rough diamonds located throughout the world.
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Loans to finance the purchase of minor league sports franchises.
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A term loan to a business where the value of its art collection exceeded the value of its other business assets.
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A credit facility secured by musical instruments located in every state in the U.S. and in three foreign countries.
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