Press Release
01/10/07 -
Commercial Lending Shareholder Joins New York Office
Authors: Michael Ralston
[New York, January 10] - The law firm of Vedder Price announces that Michael C. Nissim, formerly a partner with the New York office of McDermott, Will & Emery, joins its New York office as a Shareholder—effective today. As a member of the Vedder Price Finance and Transactions Group, Mr. Nissim will focus on the representation of commercial lenders, Employee Stock Ownership Plan (ESOP) sponsors, private equity investors and international banks.
A graduate of New York University (B.A., cum laude, 1982) and Temple University School of Law (J.D., 1985), he has extensive commercial credit experience—including acquisition financing, asset-based lending, equity bridge financing, leveraged ESOP financing and a wide variety of credit enhancement arrangements.
“We are thrilled to have Michael Nissim join our firm’s largest practice area,” commented Michael A. Nemeroff, President of Vedder Price and the Chair of the firm’s Finance and Transactions Practice. “He is a highly-skilled transactional attorney and there is great synergy between the services that he provides his clients and those offered by the 60+ members of our group.”
Mr. Nissim has actively represented private banks throughout his career. He has advised private banks in a variety of secured and unsecured facilities, in transactions ranging from $5 to $250 million. Examples of his ESOP expertise include advising an ESOP-owned company in its $300 million revolving credit facility and accounts receivable securitization. In addition, he has substantial experience in distressed, high-yield and sovereign debt assignments and participations as well as debt and loan restructurings and workouts. He represented creditors in the Enron and Budget Rent-a-Car bankruptcy transactions.
His representation of international banks is also quite significant. For example, he advised the U.S. branch of a German bank in the issuance of over $2 billion in credit enhancement letters of credit. He represented a U.S. money-center bank in a $100 million revolving credit facility for a hedge fund borrower and he assisted an international corporate group in establishing a $750 million integrated cash management system for its U.S. subsidiaries.
Mr. Nissim is a member of the ESOP Association, the American Bar Association (Uniform Commercial Code and Letter of Credit subcommittees) and the Association of the Bar of the City of New York. He is licensed to practice in the State of New York.
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