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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2175
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Heathcoat House
20 Savile Row
London W1S 3PR
United Kingdom
P: +44 (0) 20 7081 8048
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David J. Karp is a partner in the New York and London offices, where his practice focuses on corporate restructuring, special situations and distressed investments, distressed mergers and acquisitions, and the bankruptcy aspects of structured finance. David leads the firm’s Distressed Debt and Claims Trading Group, which provides advice in connection with U.S., European and emerging market debt and claims trading matters.
Selected Representations
Represented investment bank in connection with sale of distressed CDO portfolio.
Represented owner and operator of hotel properties with respect to Chapter 11 bankruptcy reorganization and the restructuring of approximately $1 billion of debt.
Represented investment fund in providing debtor-in-possession financing to tier 1 automotive supplier.
Represented investment fund with respect to foreclosure upon natural gas leasehold interests in the Fayetteville Shale formation.
Represented large national retail propane distributor with respect to Chapter 11 bankruptcy reorganization and the restructuring of more than $550 million of debt.
Represented retail center owner in connection with sale of real property under Section 363 of the Bankruptcy Code.
Represented private equity fund in connection with proposed acquisition of substantial portion of the assets of tier 1 automotive supplier.
Represented chemical manufacturer in refinancing $625 million of secured debt.
Represented numerous private equity firms and investment funds in top-to-bottom review and analysis of capital and organizational structure for investment in distressed debt securities.
Represented investment bank in connection with auction of distressed bank debt.
Represented various parties in securitization and CMBS transactions. Provided advice in connection with bankruptcy-remote structures, true sale and nonconsolidation issues.
Represented various parties in structuring and addressing bankruptcy aspects of derivative contracts including swap agreements, repurchase agreements and securities contracts.
Selected Publications
“Bankruptcy Court Approves Plan to Liquidate CDO,” SRZ Client Alert, Jan. 19, 2012 (co-author)
Profiled in “Mover of the Week: Karp Pursues Overseas Deals Amid European Debt Crisis,” Dow Jones Daily Bankruptcy Review, Jan. 13, 2012
“European Insolvency Claims Trading: Is Iceland the Paradigm?” Butterworths Journal of International Banking and Financial Law, December 2011 (co-author)
“The Impact of Asymmetric Information, Trade Documentation, Form of Transfer and Additional Terms of Trade on Hedge Funds’ Trade Risk in European Secondary Loans,” The Hedge Fund Law Report, Oct. 27, 2011 (co-author)
“Regulatory, Tax and Credit Documentation Factors Impacting Hedge Funds’ Trade Risk in European Secondary Loans,” The Hedge Fund Law Report, Oct. 21, 2011 (co-author)
“Bankruptcy Claims Trading Orders: Who Is Watching,” Bankruptcy Law360, Aug. 29, 2011 (co-author)
SRZ Distressed Debt & Claims Trading Developments Newsletter, Summer 2011 (co-author)
“Bankruptcy Claims Trading: Seventh Circuit Clarifies that Acquired Rights May Include a ‘Cure’ Claim but Recovery is Still Not Guaranteed,” SRZ Client Alert, March 1, 2011 (co-author)
“Claims Traders Beware: More Risk Than You Bargained For!” Bloomberg Bankruptcy Law Report, Jan. 31, 2011 (co-author)
“Champerty Clarified,” Bankruptcy Strategist, May 2010 (co-author)
“Champerty Clarified: A Victory for Activist Distressed Debt and Claims Investors,” SRZ Client Alert, Nov. 3, 2009 (co-author)
“Bankruptcy Court Denies Lenders' Motion to Dismiss Chapter 11 Cases of SPE Debtors,” SRZ Client Alert, Aug. 20, 2009 (co-author)
More
Selected Speaking Engagements
“Recent Developments in Bankruptcy and Distressed Investing,” SRZ 21st Annual Private Investment Funds Seminar, January 2012
“Distressed Investing: European Bank Debt and Claims — Before You Say ‘Done,’” SRZ Conference, New York, November 2011
“Current Issues in Trading Fixed Income Securities,” SRZ Investment Management Hot Topics, New York, October 2011
“Current Issues in Distressed Investing,” SRZ 20th Annual Private Investment Funds Seminar, New York, January 2011
“Basic Issues for Distressed Bank Debt Market Participants,” SRZ Distressed Investing: Capital Structure Analysis and Debt Trading seminar, New York, May 2009
More
Memberships
American Bankruptcy Institute
Asia Pacific Loan Market Association
Emerging Markets Trade Association
International Swaps and Derivatives Association
INSOL Europe
Loan Market Association
Loan Syndications and Trading Association
Bar Admissions
Court Admissions
- U.S. District Court, Southern District of New York
Education
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Fordham University School of Law, J.D., 1999
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Cornell University, B.S., 1996