Thacher Proffitt announced the formation of a distressed asset practice group. The group, which is co-chaired by bankruptcy partner Hugh McDonald and structured finance partner Christopher Lewis, will focus on all aspects of distressed assets, including structuring and negotiating rescue and exit financing — DIP lending and pre-bankruptcy forbearance arrangements –debt restructurings, foreclosures, asset dispositions, the formation of hedge funds, private equity vehicles and other investment structures for the acquisition of distressed assets as well as the acquisition and disposition of distressed debt including corporate debt and structured finance securities –CDOs, SIVs, RMBS, CMBS and ABS — trade claims, lease products, equipment certificates and litigation claims. The group will be made up of attorneys from Thacher’s structured finance, bankruptcy, litigation and tax practice groups.
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