Expertise DescriptionI have more than 25 years of business and legal experience focused on (1) complex financial products, including swaps, swaptions, options, futures, forwards, foreign exchange, commodities, securitizations, structured notes and municipal bonds, (2) commodities and securities trading, regulation and compliance, (3) ISDA, NAESB, SIFMA, EEI and other trading documentation, and (4) secured commercial loans and trading lines of credit. I have held senior executive and legal positions in a global bank, a global investment bank, a swap/derivatives dealer, a commodity pool operator, and several prominent law firms. I am very adept at simplifying and explaining complex financial products and disputes and translating between a client’s legal team and its executive/financial officers while delivering effective analysis and persuasive testimony. I am a very capable writer and public speaker. I have prior experience offering consultations and deposition as a financial expert witness.
Areas of Expertise
Recent expert witness engagements include:
1. Analysis for defense of transaction documents, opposing expert’s report, and related financial issues (including estimated damages), assistance to counsel during opposing expert’s deposition, and provision of deposition testimony in a New York State Court case concerning a $500 million municipal bond repurchase agreement, municipal bonds (fixed rate, floating rate, and auction rate), interest rate derivatives, and tender option bond programs.
2. Review of transaction documents and opposing expert’s report for defense, preparation of a written rebuttal report on a $17 million aircraft loan, guarantees and related swap documentation and swap sales practices issues, and provision of deposition testimony in a U.S. Federal District Court case concerning industry standards, customs and practices with respect to loan and guarantee documents and swaps.
3. Evaluation for defense counsel of transaction documents, opposing expert’s opinion, and witness statements as to whether certain promissory notes were “securities” under Florida and Federal law and provision of both deposition and trial testimony in a Florida State Court criminal case.
4. Preparation of expert report and expert rebuttal report for plaintiff in complex, multi-expert, multi-billion dollar Federal Court case involving considerations of state insurance law, an analysis of the use of derivatives by a large insurance company over an extended period, and the treatment of such derivatives as “securities” for various purposes.
5. Review of loan and swap documents involving an entity and its counterparty and development with bankruptcy counsel of arguments on objection to loan claim, asserting that the related interest rate swap was illegal and void under the Commodity Exchange Act and applicable state law.
Consultant to banks, hedge funds and energy merchants on derivatives (including swaps, swaptions, futures, options and forwards), commodities and securities trading documentation, and U.S. CFTC and SEC regulations impacting their trading and hedging activity and related compliance.
Consultant to several family offices concerning derivative, collateral, repurchase, securities lending, and prime brokerage agreements, related structuring, collateralization and compliance issues (including under the commodities and securities laws and the UCC), and general corporate and financial matters.
In recent years, I have been a private consultant to banks, hedge funds, energy merchants and family offices concerning derivatives, commodities and securities trading and related documentation, commodities and securities compliance matters, secured lending and borrowing transactions and general financial and corporate issues (including 2 small business mergers). I have been a Managing Director in charge of an $8+ billion dollar portfolio of structured investment products, and a CFO for a substantial CFTC licensed commodity pool that borrowed extensively through complex secured lending arrangements and traded actively in the futures and cash commodity markets. I have been a senior attorney and officer for a global investment bank and, for a time, the general counsel of its U.S. based swap/derivatives dealer. I have practiced law as a senior attorney at several well-known law firms focusing on derivatives, other capital markets products, municipal bonds, secured lending, and banking, securities and commodities regulation.
|J.D.||University of Virginia School of Law|
|M.B.A.||Finance Concentration||University of Pittsburgh|
|B.B.A.||Finance Concentration||University of Miami|
Licensed to Practice Law in New York, 1st Dept.
Licensed to Practice Law in Florida
Licensed to Practice Law in North Carolina
Series 3 Licensed with Commodity Futures Trading Commission
Series 7 and 63 Licensed (now inactive) with Securities Exchange Commission
Awards & Affiliation
Order of the Coif (top 10% of academic class), University of Virginia School of Law
H.R. Young Fellowship (full academic fellowship), University of Pittsburgh
Financial Executives’ Institute Award (outstanding M.B.A. finance student), University of Pittsburgh
Isaac Bashevis Singer Scholarship (full academic scholarship), University of Miami
Member, American Mensa