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Listen to a recent ValueWalk’s Value Talk Podcast to hear Joseph Cioffi discuss the direction the subprime auto market is headed, the current regulatory landscape and the results of Credit Chronometer’s recent auto market study.
Davis+Gilbert’s Insolvency + Finance Practice Group represents clients in a broad range of corporate, insolvency and litigation matters. The group has been actively involved in many of the most notable and highly visible business events in recent years related to the last economic downturn and has vast experience in the area of subprime lending, including the operation of origination platforms, relationships with servicers and defending large-scale asset-backed securities litigation. The broad and diverse experience of their attorneys makes them particularly well-equipped to advise clients in rapidly evolving markets, such as, those for auto loans, student loans, marketplace lending, mortgage loans and environmental, social and governance (ESG) investing. Additional highlights of the practice include the following:
Litigation: The group regularly prosecutes and defends litigation involving complex financial transactions and instruments and has defended asset-backed securities litigation, including for residential mortgage-backed securities (RMBS), encompassing fraud and repurchase claims, involving nearly $2 billion in claims.
Bankruptcy: The group guides clients through financially distressed situations and helps formulate and execute creditor enforcement strategies, in particular, in the case of intermediaries facing obligations to third parties. The group has defended nearly $1 billion in fraudulent transfer claims brought by the trustee for the liquidation of Bernard L. Madoff Investment Securities LLC.
Corporate: The group also advises on a full range of financing transactions, including secured revolving and term credit facilities, receivable financing arrangements, intercreditor agreements, warehouse lending facilities and loan purchase agreements.
For more information about the Insolvency + Finance Practice Group, click here.
On November 17, Joseph Cioffi, Davis &
Gilbert Insolvency, Creditor’s Rights & Financial Products Chair, will moderate a panel titled “Results of Subprime Auto Securitization Market Study," at the 24th Annual Non-Prime
Auto Financing Conference being held virtually on November 16-20.
Join us as we reveal the results of Credit
Chronometer’s survey of subprime auto market participants in all areas of the securitization market – originators, investors, trustees, servicers and others in the field – to gauge and compare current market sentiment versus prior studies done in 2019, pre-COVID 2020 and the beginning of the COVID era. Joseph Cioffi, Partner at the law firm of Davis & Gilbert and author of Credit Chronometer, will lead a discussion of the survey’s results with Ines Beato, Senior Vice President, US ABS Global – Structured Finance at DBRS Morningstar and Sean Morgan, Vice President of Finance at Westlake Financial Services.
The panel will analyze expectations and variances among participant groups regarding the three interdependent factors present in securitizations that have traditionally worked together to contribute to the market’s success: Credit Ratings, Credit Enhancements, and Credit Quality. We will discuss participants’ views regarding performance and particular risk factors, including:
For more information, or to register, click here.