Overview
The unprecedented disruption in the credit and capital markets which led to the passage of the Emergency Economic Stabilization Act of 2008 (the "EESA"), or as it is commonly known, the "Bailout Bill," created new opportunities and issues for a broad spectrum of commercial enterprises. The impact of EESA and the new regulations created in response to the upheaval will, without a doubt, be felt for years to come by financial institutions, insurance companies, broker dealers, public and private companies, developers, equity investors and others, creating a "new frontier" in the commercial and financial marketplace.
In response to these fast-moving developments, Locke Lord's Troubled Asset Relief Practice Group, or TARP Group, advises and assists our clients by harnessing the experience of a team of attorneys and public affairs professionals across a broad spectrum of practice areas, including banking, insurance, securities, corporate, finance, government affairs, FDIC matters, workouts, bankruptcy, tax, ERISA, litigation, distressed assets and government procurement.
In February 2009, the U.S. Treasury Department retained Locke Lord to help design and close subordinated debt purchases from Subchapter S Corporation banks as part of the continuation of TARP I.
Members of the TARP Group have decades of experience in restructuring, work-outs, distressed asset management and disposition, bank regulatory, litigation, tax and bankruptcy counseling and look forward to assisting clients in maximizing opportunities and minimizing risks in both good and bad economic times. With members of the TARP Group in every Lccke Lord office and with numerous contacts in the legislative and executive branches of the Government, the Firm is able to provide the most sophisticated advice and guidance to clients in all areas of the country.
The TARP Group represents the intersection of Locke Lord's many years of practice on Main Street, Wall Street and Pennsylvania Avenue. The challenges we face in this new environment may be unprecedented, but the members of Locke Lord's TARP Group offer unparalleled experience and practical knowledge in navigating the rapidly changing markets and emerging opportunities.