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Robert J. Waldner

Counsel

rwaldner@crowell.com
Phone: +1 212.530.1812
590 Madison Avenue, 20th Floor
New York, NY 10022-2544

Robert J. Waldner is a counsel in the New York office of Crowell & Moring. He is a recognized authority on bank loan and claims trading conventions, issues, and documentation in the global debt trading market. Bob has more than 20 years of legal experience, regularly representing banks, broker-dealers, investment funds, and other financial institutions that transact in the primary and secondary bank loan, high-yield debt, and bankruptcy and litigation claims trading markets. His transactional practice concentrates on trade structure and documentation as it relates to the allocation of credit risk in the fixed income trading markets.

Bob regularly advises clients participating in the market for troubled and non-performing loans and financial claims, providing transactional guidance and market insights to clients that originate, restructure, and trade commercial and industrial bank loans, distressed securities, claims arising from bankruptcy, or other litigation proceedings and any related obligations.

He has assisted a wide range of financial clients in the creation of trading solutions for liquid and illiquid assets, the documentation and settlement of purchases,  and sales of various domestic and international distressed and par assets, and the support of secondary loan and claims trading desks generally.

Bob specializes in the preparation and negotiation of primary and secondary market loan and claims trading documentation, including agreements adopted under The Loan Syndications and Trading Association, Inc. (LSTA) and Loan Market Association (LMA) regimes and other bespoke purchase and sale contracts, as well as secondary market private securities trading documentation.

He has been engaged by investors seeking to acquire strategic positions in companies undergoing financial restructuring or in bankruptcy, and often counsels these clients in reviewing and analyzing credit documentation and related reorganization or bankruptcy materials.

He has represented clients in connection with thousands of trading transactions in bank loans, bankruptcy or litigation claims, reorganization equity and credit derivatives relating to both distressed and par borrowers in a variety of industries and geographic areas, including Cengage Learning, iHeart Media, Longview Power, Lyondell, MF Global, McDermott International, Inc., MGM, Pacific Drilling, Pacific Gas & Electric, Paragon Offshore, Parmalat, Samson Investment Co., Seadrill, Tribune, and TXU.

Bob is an active participant in the LSTA and has participated in numerous LSTA working groups.

Prior to joining the firm, he was an attorney with Kibbe & Orbe LLP.

Representative Matters

  • Represented a large investment bank in connection with its purchase and subsequent sale of a portfolio of over 100 loans with principal totaling approximately $1 billion.
  • Represented a major hedge fund in connection with its acquisition in a series of transactions of several hundred customer claims against the liquidating estate of a major SIPA commodities broker.
  • Represented a major hedge fund in connection with its acquisition, in a series of transactions of over $50 million principal amount of loans extended to a borrower in the oil and gas industry, and its participation in the borrower’s equity rights offering.
  • Represented several hedge funds in connection with their acquisition in a series of transactions of insurance subrogation claims against a large utility company.

Education

  • Duke University, B.S.E. (1995)
  • University of Michigan Law School, J.D. (2000) cum laude

Affiliations

Admitted to practice: New York

Professional Activities and Memberships

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

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Crowell & Moring LLP is an international law firm with approximately 550 lawyers representing clients in litigation and arbitration, regulatory and policy, and transactional matters. The firm is internationally recognized for its representation of Fortune 500 companies in high-stakes litigation, as well as its ongoing commitment to pro bono service and diversity, equity and inclusion. The firm has offices in Brussels, Doha, London, Los Angeles, New York, Orange County, San Francisco, Shanghai, and Washington, D.C.

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