The purchase and sale of securities and claims in distressed circumstances, or claims trading, an area pioneered by lawyers at Kramer Levin in the early 1990s, continues to create opportunity for strategic investors.
Kramer Levin provides counsel in more than 2,500 transactions each year involving billions of dollars of distressed debt through its representation of hedge funds and banks engaged in the purchase and sale of securities and claims of companies undergoing financial restructuring or in bankruptcy.
Our unique combination of restructuring, bankruptcy litigation and claims trading experience enables us to help sophisticated investors identify dislocations between the current market prices of securities and claims and their potential value in distressed situations.
We provide valuable and market-timely analysis of indentures and credit documents and help clients understand what alternative restructurings might look like for any given company, as well as calculate the advantages and disadvantages of various types of trades.
Notable recent transactions have involved investments in Alpha Natural Resources, Artec Industries, Commercial Barge Line, Concordia International, iHeart Communications, J. Crew Group, Lehman Brothers, Millennium Health, New Rue 21, Oi SA, Pacific Drilling, Payless Shoes, Velocity and Westinghouse Electric, among many others. Longtime leaders in the field of claims trading, we continue to set the pace for the marketplace today. Indeed, for many investors seeking holistic, high-end distressed investing analysis, Kramer Levin is the first call.