Photograph of Jon Kibbe

Jon Kibbe

Senior Counsel


Jon Kibbe is a recognized authority on evolving legal issues in the global credit markets, including the loan market. He represents banks, investment banks, hedge funds, broker dealers and other financial institutions that buy and sell loans, claims and other credit products in the high-yield debt, and credit derivatives markets. Jon advises his clients on the transactional and regulatory aspects of those markets and develops practical solutions to novel trading and regulatory issues arising from transactions involving complex credit products. He is a senior counsel in the New York office of Crowell & Moring.

He regularly advises clients participating in the market for troubled and non-performing loans and financial claims, providing transactional, compliance and regulatory guidance to clients that originate, restructure and trade commercial and industrial bank loans, distressed bonds, portfolios of real estate loans, claims arising from terminated derivative transactions, and other related obligations. He has helped clients create trading solutions and new markets for illiquid credit assets, establish trading desks to support those markets, implement strategic trading programs, and develop firm-wide compliance and best-practice initiatives.

Jon counsels clients engaged in event-driven acquisitions, debt restructurings, and innovative financing transactions. He has helped develop and engineer new financial instruments, including the loan credit default swap, and new applications of securitization structures, including vehicles formed to purchase and restructure distressed bank loans. 

He is a frequent speaker on legal, regulatory, and compliance issues arising in the fixed income markets. Jon regularly writes on topics of interest to active participants in the evolving markets for bank loans, claims, and related credit derivatives products.

Jon has been recognized by New York Super Lawyers Magazine in the areas of securities and corporate finance (2008-2020).

Prior to joining the firm, he was a founding partner of Richards Kibbe & Orbe LLP, a boutique law firm that focused on financial markets.

Representative Matters

  • Represented an investment bank modifying a protocol for trading loans by incorporating trade custom and best practices evolving in response to recent case law developments.
  • Advised a hedge fund collateralizing an emergency financing with illiquid financial assets, including par and distressed loans and future commitments to buy and sell loan products.
  • Counseled an investment adviser seeking to harmonize loan trading activities and regulatory and compliance policies across a platform of CLO's, credit opportunity funds, and private equity funds.
  • Represented a consortium of investment banks and trade associations in collaborative efforts to design and document the standard North American and European loan credit default swap products, and the related framework used for loan settlement into credit default swaps in connection with the ISDA “Big Bang” protocol.
  • Counseled a trade association in developing trading initiatives and best practices designed to increase transparency and liquidity in the U.S. secondary bank loan market in response to Dodd-Frank.
  • Advised an investment bank seeking to resolve a series of complex trading disputes and contentious matters through the novel use of structured distributions derived from a portfolio total return swap.
  • Represented buy-side and sell-side clients in the trading and investing of tens of billions of dollars of insolvency, litigation, and other claims in North America, Europe and Asia (debtors included Visa/MasterCard, CDS antitrust litigation defendants, Lehman Brothers, TXU, American Airlines, McDermott, General Motors, Icelandic banks).

Education

  • Harvard University, A.B. (1976) magna cum laude
  • New York University School of Law, J.D. (1980)

Affiliations

Admitted to practice: New York

Professional Activities and Memberships

  • Member, The Loan Syndications and Trading Association (LSTA)

View More

ESG, SOFR Loans To Take Off In 2022 Loan Connector (November 23, 2021)
Press Coverage
"How the Emerging Environmental Justice Paradigm Will Shape Risk Profiles and Investment Opportunities," An Overview of the New Investment Landscape (October 27, 2021). Speakers: Jon Kibbe, Kirsten L. Nathanson, and Paul Freeman.
Speech/Presentation
"How the Emerging Environmental Justice Paradigm Will Shape Risk Profiles and Investment Opportunities," LSTA Webinar (October 5, 2021). Speakers: Paul Freeman, Jennifer K. Grady, Jon Kibbe, Elliott P. Laws, Kirsten L. Nathanson.
Speech/Presentation
Crowell & Moring and Kibbe & Orbe Join Forces (April 1, 2021)
Firm News / Announcement
"SDNY Finds that Syndicated Bank Loans are not Securities, but Questions of Arranger Liability Remain," (June 5, 2020). Contact: Jon Kibbe
Client Alert / Newsletter
"Loan Market Trends," Corporate Alert (May 20, 2020). Contact: Jon Kibbe
Client Alert / Newsletter
"Arranger Liability in the Loan Market," (May 13, 2020). Contact: Jon Kibbe
Client Alert / Newsletter
"Finding More Certainty - Are Your Counterparty’s Oral Promises Enforceable?," (March 27, 2020). Contact: Jon Kibbe
Client Alert / Newsletter
"Lending, Investing, and Trading After the Market Break: Opportunities to Seize and Risks to Manage," Corporate Alert (October 22, 2008). Contacts: Paul B. Haskel, William Q. Orbe, Jon Kibbe
Client Alert / Newsletter

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Crowell & Moring LLP is an international law firm with offices in the United States, Europe, MENA, and Asia that represents clients in litigation and arbitration, regulatory and policy, and transactional and corporate matters. The firm is internationally recognized for its representation of Fortune 500 companies in high-stakes litigation and government-facing matters, as well as its ongoing commitment to pro bono service and diversity, equity, and inclusion.

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