Letters of Credit Subcommittee Meeting. Our meeting will focus primarily on reoccurring issues and disputes that arise in letter of credit transactions. Speakers will present on jurisdictional issues in letter of credit disputes, fraud in letter of credit transactions, and the UCC Article 5 statute of limitations. In addition, an update will be provided in respect of sanctions issues applicable to letter of credit transactions and recent cases of interest.
Chairs
Paul M. Roder
Partner and Co-Chair of the Banking & Finance Group
Moses & Singer LLP
New York, NY
+ Show Bio
Paul M. Roder is Co-Chair of Moses & Singer’s Banking & Finance practice group and a member of the Firm’s Management Committee. For over two decades, Paul has represented money center banks and other financial institutions in sophisticated financing arrangements. He has extensive experience in syndicated and bilateral lending, secured lending, and letter of credit transactions. He actively represents lenders in fund finance, trade finance, and private banking/high-net-worth finance, as well as other financings. Paul’s clients include foreign and domestic lenders who often serve as agents and letter of credit issuers in credit extensions to a wide range of borrowers.
Mary B. Rosen
Senior Lead Counsel
Wells Fargo Bank
Minneapolis, MN
+ Show Bio
Mary Rosen is a Senior Vice President and Senior Lead Counsel at Wells Fargo Bank. Beyond handling international trade finance matters for her bank at the enterprise level, Mary currently co-chairs the ABA’s Letters of Credit Subcommittee (UCC), is a member of the Legal Committee of the International Chamber of Commerce’s Banking Commission, a member of the Legal Advisory Group for BAFT (Bankers Association for Finance and Trade) and provides training for in house attorneys and speaks regularly on letter of credit related topics.
Speakers
Michael Evan Avidon
Partner
Moses & Singer LLP
New York, NY
+ Show Bio
Mike Avidon is a partner in Moses & Singer LLP and Co-Chair of its Banking & Finance Practice. He is widely recognized for his knowledge of letters of credit (LCs), lending, and secured transactions. He was named “2022 Letter of Credit Lawyer of the Year” by the IIBLP. Mike’s practice emphasizes lending transactions, LC transactions, trade & supply chain finance, receivables purchases, draft discounting, subscription finance, and LC litigation. His LC work involves standby, direct pay, and commercial LCs, and demand guarantees. His clients include money center banks (often acting as administrative agent for syndicate lenders) and other financial institutions.
Carter H. Klein
Of Counsel
Jenner & Block LLP
Chicago, IL
+ Show Bio
Carter Klein is a member of the American College of Commercial Finance Lawyers, liaison for the American Bar Association’s Uniform Commercial Code Committee to the Permanent Editorial Board of the Uniform Commercial Code, and is editorial advisor, contributor, and frequent speaker and panelist on trade finance issues to the institute of International Banking Law & Practice (IIBLP). He served as chair of the ABA’s Letter of Credit and Payments Subcommittees. For the Chicago Bar Association, he has chaired the Commercial and Financial Transactions Committee, the International & Foreign Law Committee, and the Consumer Credit Committee.
Rick Martinez
Partner
Hogan Lovells US LLP
New York, NY
+ Show Bio
Rick Martinez represents lenders and borrowers in complex cross-border finance transactions. His practice covers a broad spectrum of contexts, including project finance, acquisition finance, asset based lending, and general working capital facilities, as well as trade, commodity and supply chain finance by means of letters of credit, pre-export credit facilities, and the purchase and sale of trade receivables. Most of these transactions have involved leveraged borrowers and thus have benefited from some form of credit support, whether in the form of a guarantee, letter of credit, derivative, a security interest in pledged property, or additional sponsor or parent company support.
Chris Monahan
Partner
Faegre Drinker Biddle & Reath LLC
Washington, DC
+ Show Bio
Chris helps lead the International Trade team and Faegre Drinker and focuses his practice on U.S. economic sanctions, export controls, foreign investment controls, and other national security related laws and regulations affecting cross-border transactions. He assists companies in a wide variety of industries in front of the Departments of State, Commerce, Treasury, and Justice (among others) on compliance and enforcement matters, he leads investigations, counsels on compliance matters, and helps on strategic decisions about all manner of international transactions and activity.
Philippe A. Zimmerman
Partner
Moses & Singer LLP
New York, NY
+ Show Bio
A co-chair of Moses Singer's Litigation Practice Group, Philippe has over three decades of experience representing banks and other clients in a wide range of disputes, including numerous letter of credit matters. A strong believer that litigation is a tool that needs to be intelligently and intentionally used, he is an advocate for carefully assessing how to best represent a client's interests and, where possible, coordinating with transactional counsel to narrow future disputes and to place clients in a position of strength.
Letters of Credit Subcommittee Meeting
Type of Session
Committee/Subcommittee Meeting
Description
Session will open 5 mins before the start time. Please refresh your page if you don't see the blue Join Meeting button above.