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Top-flight lawyers conducted a three-week trial entirely online, in the midst of a pandemic and recession, to resolve issues that dated back over a decade to the last recession. Derivatives, CDOs, credit default swaps, and financial guaranties: the facts in Putnam vs. FGIC were incredibly complex. In this episode, Milbank Global Project Energy & Infrastructure Finance partner Allan Marks sorted it out with Putnam’s lead lawyers – Thomas Arena, Sean Murphy and Robert Hora  of Milbank’s Litigation & Arbitration group – to learn how they managed one of the country’s first virtual trials in complex commercial litigation in federal court, what it means for future virtual trials, and how they won the case on all counts. 

About the speakers:

Thomas Arena represents financial institutions and corporations in federal and state courts in class actions, securities and bankruptcy litigation cases, and has conducted jury and non-jury trials in courts throughout the country. He also has substantial experience representing companies and individuals before the Department of Justice and other regulators, including the Securities and Exchange Commission and the New York Attorney General’s Office.

Sean Murphy’s practice focuses on complex securities matters. He has defended dozens of companies and financial institutions in multi-jurisdictional class action and derivative litigation under state and federal securities laws, including claims under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940. He has extensive experience representing investment advisers and mutual fund boards in litigation and regulatory investigations involving management fees, revenue sharing, conflicts of interest, prospectus disclosure, distribution and trading, ERISA prohibited transactions, portfolio mismanagement, Rule 12b-1, board oversight and fiduciary duty litigation. He represents clients in regulatory and enforcement proceedings before the SEC, CFTC, FINRA and state regulators.

Robert Hora focuses on litigation of complex commercial matters involving mutual funds, securities, commodities, and corporate governance. In recent years, Robert has successfully tried and defended some of the most significant cases in the mutual fund industry, involving close to $1 billion in alleged damages and resulting in precedent-setting decisions. 

Podcast host Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com. 

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ESG Series #2: Executive compensation is a hot-button issue, correlated both to tremendous growth in financial wealth and to rising inequality. In this episode, Milbank Global Project Energy & Infrastructure Finance partner Allan Marks and Executive Compensation and Employee Benefits partner Mike Shah discuss current trends in executive compensation, including:

• How corporate boards address competing pressures when structuring new pay packages
• Impact of market volatility on incentive compensation and performance metrics
• Keys to designing and implementing executive pay packages aligned with a company’s long-term performance 
• ESG considerations, diversity and inclusion, and other goals that matter
• Attracting, retaining and incentivizing top executives to deliver both value and growth
• Emotional aspects of contract negotiations

About the speakers:
Mike Shah's practice focuses on all facets of executive compensation matters. He regularly advises compensation committees and boards of directors on corporate governance and executive compensation matters. In particular, Mr. Shah has extensive experience advising public and private companies on executive compensation and employee benefits issues across a broad range of corporate transactions, including mergers and acquisitions, corporate restructurings and bankruptcies, friendly and hostile tender offers, divestures, and public offerings. 

Podcast host Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.






The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

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How do you pay for planes and cover billions in debt when people stop flying and airlines are going broke? The global pandemic and economic slowdown have radically altered the financial landscape for airlines, aircraft manufacturers and leasing companies around the world. Our story today is about how Nordic Aviation Capital (NAC) – a leading aircraft lessor worth over $8 billion – navigated the sudden collapse in air traffic in 2020 with help from its creditors and an Irish court. Milbank Global Project, Energy & Infrastructure Finance partner Allan Marks, widely experienced in airport development and finance, sat down with partner and co-head of the firm’s London Transportation and Space Group James Cameron and London Financial Restructuring Group partner Karen McMaster, who represented the secured creditors in the NAC restructuring. They discuss how the creditor negotiations unfolded and the legal and commercial issues that led to an innovative Scheme of Arrangement under Irish Law affecting parties in the UK, the European Union, the US, Asia and elsewhere. The issues in this complicated case have broader implications for cross-border restructurings, aircraft finance, and the interplay between domestic and international law, including companies law, insolvency law, treaties for the enforcement of foreign judgments, and the Cape Town Convention. Buckle up, and mind that contents may have shifted in flight.

James Cameron is a top-ranked practitioner with extensive experience acting on a variety of asset leasing and financing transactions involving aircraft, ships, oil rigs, rolling stock and other movable equipment. Read More

As a partner in the firm’s Financial Restructuring Group, Karen McMaster assists buy side and distressed investors structure, negotiate and implement investments in distressed, stressed or special situation credits. Read More

Milbank Conversations host Allan Marks is a Milbank partner and one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors and lenders around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks serves as an Adjunct Lecturer at the University of California, Berkeley at the Law School and the Haas School of Business. Read More

More details at Milbank.com. The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

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How are companies, financial institutions and governments confronting increasingly sophisticated threats of fraud and other financial crimes? Milbank partner Allan Marks and Litigation & Arbitration partners Mona Vaswani and Adam Fee delve into a range of timely and substantive topics:

• Financial and accounting fraud, embezzlement, market manipulation, bank and wire fraud, money laundering, sanctions stripping, bribery, corruption, insider trading, intellectual property theft, cyber hacks, social media and e-commerce data breaches 
• Psychology of victims and fraudsters
• Criminal vs. civil remedies
• Multi-jurisdictional and international legal issues, asset-tracing investigations, offshore trusts and asset freezes
• Domestic and foreign law enforcement
• Insurance for cybersecurity and financial fraud 

About the speakers:
Mona Vaswani is a partner in the London office of Milbank and a member of the firm’s Litigation & Arbitration Group. She advises on complex, cross-border disputes and investigations, with an emphasis on banking litigation, fraud and asset tracing claims as well as trust litigation. She has acted for leading international and investment banks on a range of large, high-stakes and complex banking and regulatory disputes and investigations. She also has substantial experience advising banks and trustees and offshore trustees in the conduct of trust litigation in several jurisdictions.

Adam Fee is a partner at Milbank and a member of the firm’s Litigation & Arbitration Group. Adam advises companies, individuals and boards facing government investigations and conducting sensitive internal investigations.  A former federal prosecutor, he has deep experience in a variety of white-collar and regulatory enforcement matters, including corruption, corporate espionage, securities and accounting fraud, and data protection and cybersecurity. During his time with the United States Attorney’s Office for the Southern District of New York, he led many of the government’s highest profile prosecutions in these areas.

Host Allan Marks, a partner at Milbank and one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.

The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

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ESG Series #1: There are two perspectives from which to examine cybersecurity. Big picture: Are we safe as a nation? Up close: What should my company or institution be doing now to manage cyber risks? In this special, extended episode, Allan Marks joins Former NSA General Counsel Glenn Gerstell and Milbank partner Dara Panahy to explore in depth the needed tools and current trends in cybersecurity, national security, governance and technology. Can we become more resilient while becoming ever more interconnected?
 

About the Speakers:

Glenn S. Gerstell served as the general counsel of the National Security Agency (NSA) and Central Security Service (CSS) from 2015 to 2020. He has written and spoken widely about the intersections of technology and national security and privacy. Prior to joining the NSA, Mr. Gerstell practiced law for almost 40 years at the international law firm of Milbank LLP, where he focused on the global telecommunications industry and served as the managing partner of the firm's Washington, DC, Singapore, and Hong Kong offices. Mr. Gerstell served on the President's National Infrastructure Advisory Council, which reports to the president and the secretary of homeland security on security threats to the nation's infrastructure, as well as on the District of Columbia Homeland Security Commission.  Earlier in his career, he was an adjunct law professor at the Georgetown University Law Center and New York Law School. He is a recipient of the National Intelligence Distinguished Service Medal, the Secretary of Defense Medal for Exceptional Civilian Service and the NSA Distinguished Civilian Service Medal.

As leader of Milbank’s Transportation and Space Group in Washington, DC and head of the firm’s Global Risk & National Security practice, Dara Panahy represents satellite operators, aerospace manufacturers, launch services providers, communications companies, banks, private equity firms and hedge funds in debt and equity offerings, project, structured and vendor financings, mergers & acquisitions, financial restructurings and in negotiating commercial contracts.  He also advises on regulatory, sanctions, anti-corruption, national security and export control matters.

Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. He has provided strategic guidance to corporate boards and senior executives with respect to risk management and cybersecurity compliance in the energy and digital infrastructure areas. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.
 













 
The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, pleas

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How are governments and financial markets in Latin America responding to the global pandemic and recession? Milbank partner Allan Marks discusses cross-border investment, asset valuations, and legal initiatives across Latin America with Milbank Capital Markets partners Fabiana Sakai in São Paulo and Carlos T. Albarracín in New York. As economies struggle in Brazil, Argentina, Mexico, Colombia and throughout the region, the economic effects may be similar but politics vary markedly. Discover how LatAm markets are coping with the challenges of liquidity, widening inequality, falling commodity prices and interest rates, and currency volatility, and what it all means for debt and equity investors, restructuring opportunities, and public and private sources of new capital.

About the speakers:

Fabiana Sakai, a partner in the São Paulo office of Milbank and a member of the firm’s Capital Markets Group, has over seven years of experience in Brazil. Her focus is on New York law-based consulting to Brazilian and US companies and financial institutions in the areas of capital markets, M&A and financing.

Carlos T. Albarracín, a partner in the New York office of Milbank and a member of the firm’s Capital Markets Group, has extensive experience on cross-border capital raising and financing transactions throughout Latin America, with a focus on the energy and infrastructure sectors.

Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.







The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

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Featuring Milbank partners Allan Marks and Drew Fine, one of the world's leading aircraft finance lawyers, this episode explores the future of the global aviation industry. How will airlines both keep passengers safe and make them feel safe? The financial implications for the airlines, airports, lessors, and manufacturers are complex and wide ranging.       

About the speakers:

Drew Fine has extensive experience in a wide variety of international financial and corporate transactions, including public offerings and private placement of securities (equipment notes, enhanced equipment trust certificates (EETCs), ABS), acquisitions, leveraged leasing, secured and unsecured lending, cross-border financings, structured financings, workouts and credit enhancements. He has particular expertise in financings and corporate transactions involving aircraft, rolling stock and vessels. Mr. Fine has worked on several of the most significant ABS and financings involving aircraft and railcars, including many transactions that have won “Deal of the Year” awards from industry publications. He has also participated in the evolution of the EETC over the years, including working on the first pre-funded EETC. Another area of specialization for Mr. Fine is representing clients in connection with the acquisition or disposition of leasing companies and large portfolios of aircraft and rolling stock.

Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.




The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

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Featuring Milbank partners Allan Marks and Apostolos Gkoutzinis, this episode explores the pandemic’s impact on global capital markets, the efficacy of government responses, and some longer term implications of these changes.

About the speakers:

Focusing on US securities laws and international debt and equity offerings, Apostolos Gkoutzinis covers an exceptionally broad practice across international corporate, capital markets and finance transactions. His experience includes advising on IPOs, international rights offerings and other equity offerings, high-yield and investment-grade bond offerings and private placements, large acquisition financings, tender offers and other liability management exercises, M&A transactions, NPL portfolio sales, restructurings, recapitalizations and privatizations. In addition to advising on a spectrum of headline transactions globally, he is one of the most prominent international lawyers in relation to Greece.

Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.





The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

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Featuring Milbank partners Allan Marks and Fiona Schaeffer, this episode explores how the legal landscape of antitrust work is shifting and whether the pandemic-induced economic crisis impedes or encourages long term enforcement trends.

About the speakers:

Fiona Schaeffer represents clients in the defense of “bet-the-company” criminal and civil cases as well as their most complex transactions. She counsels clients in a variety of industries, with a particular depth of experience in healthcare, financial services, energy, media and communications. Ms. Schaeffer is the Committee Officer of the American Bar Association’s Section of Antitrust Law, former Chair of the Antitrust & Trade Regulation Committee of the New York City Bar Association and member of the Executive Committee of the New York State Bar Association Antitrust Section.

Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.






The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

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In this episode, Milbank partners Allan Marks and Erwin Dweck survey economic trends and financing opportunities for distressed real estate in different asset classes. Then, they take a deeper dive into current pricing, valuations and structuring implications for commercial real estate finance. Find out what it all may mean over the next 12 months for the CMBS market, which saw almost $100 billion in new issuances last year alone.

About the Speakers:

Erwin Dweck has experience in all areas of the real estate industry with an emphasis on representing investors in complex domestic and international commercial real estate acquisitions, developments, dispositions, joint ventures, financing, intercreditor issues and mezzanine loan foreclosures. His practice has focused on representing investors in secondary market transactions, restructurings and workouts of complex equity and debt structures.

Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

More details at Milbank.com.







The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact [email protected].

For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, iHeart, Google and Audible.

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