Distressed Debt Claims Special Assets Trading Attorneys
Barnes & Thornburg represents buy-side and sell-side participants — investment funds, broker-dealers, banks, CLOs, private equity funds, family offices and other financial institutions — in primary and secondary trading of U.S. and international par and distressed debt, private securities, and bankruptcy claims.
Distressed trading requires more than transaction documents. Before a position is acquired, clients need a clear view of transferability, restrictions and potential issues that could affect execution. We review credit agreements and proofs of claim to evaluate whether a trade can proceed, prepare LSTA, LMA and bespoke documentation, address consent and eligibility requirements, and help clients navigate settlement issues and insolvency developments that affect a position after closing. Where an asset cannot be assigned directly, we help structure alternative arrangements designed to preserve the intended economics.
Trading timelines are compressed, and documentation issues can quickly affect a transaction. Clients rely on our team for practical guidance on claim-related risks, responsive support throughout the settlement process and commercial judgment about which issues require attention.
Trading questions rarely stay trading questions. A claim purchase becomes a plan classification issue; a participation becomes a tax question. As those inquiries evolve, clients draw on our restructuring, finance, tax, regulatory and litigation counsel through the same relationship, with coordinated support across the life of the transaction.
Trading timelines are compressed, and documentation issues can quickly affect a transaction. Clients rely on our team for practical guidance on claim-related risks, responsive support throughout the settlement process and commercial judgment about which issues require attention.
Trading questions rarely stay trading questions. A claim purchase becomes a plan classification issue; a participation becomes a tax question. As those inquiries evolve, clients draw on our restructuring, finance, tax, regulatory and litigation counsel through the same relationship, with coordinated support across the life of the transaction.
Areas of Focus
Insights & Events
The most challenging trades often involve assets, counterparties and circumstances that do not fit a standard playbook. Barnes & Thornburg’s attorneys combine market knowledge, transactional experience and restructuring capabilities to help clients assess risk, address obstacles and pursue opportunities across the life of a position.