Insights

New York – April 1, 2021: Crowell & Moring and Kibbe & Orbe have joined forces effective today to provide expanded service offerings to clients in the financial services industry.  Twenty-four lawyers from the storied financial law firm are now part of Crowell & Moring’s New York, London, and Washington, D.C. offices, including Jennifer Grady, managing partner and chair of the firm’s executive committee, who will co-chair Crowell & Moring’s Corporate practice; three founding partners, Jonathan Kibbe, William Orbe, and Michael D. Mann, and the managing partner of the London office, Andrew M. Martin.

In today’s global secondary loan market, negotiating trade terms is not usually a protracted process, but rather an efficient set of communications, where the parties reach agreement on only the most material trade terms and trust that market documentation frameworks and trading conventions will supply the remaining terms. Whether a trade will be documented as a “par” trade or a “distressed” trade, however, is one of the more important terms that is generally addressed in the earliest communications between the trading parties.