People: Timothy C. Bennett, Senior Counsel

Photo of Timothy C. Bennett, Senior Counsel

Timothy C. Bennett

Senior Counsel

New York
Direct: (212) 218-3386
Boston
Direct: (617) 946-8326
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Timothy C. Bennett leads Seyfarth Shaw’s Global Distressed, Illiquid and Special Situations Trading practice.  He is responsible for managing all aspects of a broad range of transactions for clients ranging from boutique brokerages and hedge funds to investment managers and Wall Street banks.  His recent representative transactions include the acquisition and sale (including by way of auction) of bankruptcy claims, distressed notes, terminated derivative contracts, loan portfolios, shares of restricted stock, interests in liquidating funds, structured settlements, litigation claims and trades for bank debt of domestic and foreign borrowers under both LSTA and LMA documentation.  He has experience drafting and negotiating bespoke forms of agreement and structuring creative settlement solutions for clients to efficiently close deals and maximize profit while minimizing risk.  He regularly analyzes credit agreements, indentures and related documentation, bankruptcy case filings, ISDA agreements, and corporate filings - all in furtherance of advising clients in the development and implementation of their trading and investment strategies.  Mr. Bennett represents financial institutions active in receivables financing and claim put transactions.   He also represents non-traditional lenders, including institutions which have provided funding to law firms.  Finally, Mr. Bennett has experience in general corporate, finance and bankruptcy law matters.

Timothy C. Bennett leads Seyfarth Shaw’s Global Distressed, Illiquid and Special Situations Trading practice.  He is responsible for managing all aspects of a broad range of transactions for clients ranging from boutique brokerages and hedge funds to investment managers and Wall Street banks.  His recent representative transactions include the acquisition and sale (including by way of auction) of bankruptcy claims, distressed notes, terminated derivative contracts, loan portfolios, shares of restricted stock, interests in liquidating funds, structured settlements, litigation claims and trades for bank debt of domestic and foreign borrowers under both LSTA and LMA documentation.  He has experience drafting and negotiating bespoke forms of agreement and structuring creative settlement solutions for clients to efficiently close deals and maximize profit while minimizing risk.  He regularly analyzes credit agreements, indentures and related documentation, bankruptcy case filings, ISDA agreements, and corporate filings - all in furtherance of advising clients in the development and implementation of their trading and investment strategies.  Mr. Bennett represents financial institutions active in receivables financing and claim put transactions.   He also represents non-traditional lenders, including institutions which have provided funding to law firms.  Finally, Mr. Bennett has experience in general corporate, finance and bankruptcy law matters.

Education

  • J.D., Seton Hall University School of Law, cum laude (2003)
    Order of the Coif
  • M.B.A., (Finance), Seton Hall University Stillman School of Business (2003)
  • B.A., (History), College of the Holy Cross (1998)

Admissions

  • Massachusetts
  • New York

Affiliations

  • Editorial Board Member (restructuring), DailyDAC.com (a part of the Financial Poise family of websites)
  • Loan Syndications and Trading Association (contributor, Trade Claims Working Group)
  • Loan Market Association
  • American Bankruptcy Institute
  • Turnaround Management Association

Representative Engagements

  • Represents creditors in Chapter 11 proceedings of EMAS CHIYODA Subsea Limited et al. and  EZRA Holdings Limited et al.
  • Represents creditors in Chapter 15 proceedings of PT Bumi Resources Tbk
  • Represents numerous U.S. and international financial institutions involved in the proceedings resulting from the bankruptcy filings of Lehman Brothers and its various affiliated entities, including clients active in the purchase and sale of claims against foreign and domestic Lehman entities, guarantee claims and claims based on terminated swap, prime brokerage and margin lending agreements
  • Conducted successful auction on behalf of investment fund client for the sale of its claims against certain Lehman domestic entities to a leading investment bank; responsibilities included contacting and arranging prospective purchasers, and drafting and negotiating bidding procedures, term sheets and a definitive purchase and sale agreement
  • Represents purchasers of notes issued by state-owned oil and natural gas company
  • Represents purchasers of claims against European banking group
  • Represented numerous U.S and international clients in connection with the purchase and sale of interests in and claims against the estate of Bernard L. Madoff Investment Securities LLC and several foreign and domestic Madoff “feeder funds”; ensured settlement notwithstanding transfer restrictions by developing strategies such as intra-custodial transfer, temporary participation and whole entity acquisition 
  • Represented the court-appointed liquidators for Fairfield Sentry Limited in connection with the sale (by way of auction) of claims against the Madoff estate; responsibilities included negotiating and documenting confidentiality agreements, term sheets and purchase and sale agreement
  • Represented Chinese entity in the purchase of a bilateral loan issued to a US borrower as part of a “loan to own” strategy
  • Represents purchasers of payment rights in settlements against defendants in major class action litigations
  • Represented client providing litigation funding to shareholders asserting expropriation claims against foreign governments
  • Represented affiliate of European based banking group in sale of portfolio of approximately 200 performing and non-performing loans with an aggregate principal outstanding amount in excess of $800M
  • Represents purchasers of Greek sovereign debt issued pursuant to a German Schuldscheindarlehen instrument 
  • Represented purchaser of swap termination claim resulting from default by collateralized debt obligation 
  • Represents purchasers of debtor assets pursuant to Section 363 of the Bankruptcy Code
  • Represents numerous purchaser and sellers of debt owed by and/or claims against obligors throughout the Americas (Canada, Mexico, Brazil), Europe (Iceland, Spain, France, England, Germany, Netherlands, Luxembourg, Switzerland), the Middle East (Dubai, Bahrain) and Asia (Singapore, Korea) 
  • Represents clients active in the purchase and sale of claims and debt in numerous foreign and domestic bankruptcy cases, including recently Target Canada Co., GT Advanced Technologies, Energy Future Holdings, Glitnir Bank, Kaupthing Bank, LyondellBasell, Pescanova, Haggen Holdings and Hercules Offshore
  • Represent clients active in the purchase and sale of restricted equity issued by ASG Technologies Group, Colt Holding Company and Dex Media 
  • Represents clients in connection with the purchase and sale of claims against Stanford International Bank Limited, and negotiated preference settlements with court appointed liquidators in Antigua in connection therewith
  • Represents clients in connection with the purchase and sale of claims against Lancelot Investors
  • Represented group of investment funds in the secondary purchase of claims against Asarco LLC, and negotiated subsequent settlement with the debtors resulting in additional post-petition interest 
  • Managed team of internal and external attorneys that drafted digest of comparative insolvency regulations in emerging jurisdictions at the request of a global investment management client 
  • Represented leading European financial institution in structuring a receivables financing program for its US based clients

Presentations

  • Presenter, “Bankruptcy and Litigation Claims: How To Find Opportunities and What To Do When You Do?," The Loan Syndications and Trading Association, Webcast (March 15, 2017)
  • Presenter, “Distressed Debt Investing in the Oil and Gas Industry: Opportunities and Challenges,” The Knowledge Group (November 18, 2016)
  • Panelist, “What’s New with Trade Claims?,” LSTA/LMA Joint Conference: Current Market and Legal Developments from Both Sides of the Pond (May 19, 2015)
  • Presenter, “Liquidating and Trading Bankruptcy Claims,” Baird Group Webinar (July 2014)
  • Presenter, “Navigating Today’s Market: Lessons Learned from Recent Cases – Fisker, Meridian, Lightsquared and Others,” LSTA/LMA Fifth Annual Joint Documents Teach-In (June 2014)

Publications