Qualifications and Career Profile
Noah Heller leads the New York Transactional Practices, which include the New York Financial Services, Structured Finance, Commercial Finance and Public Finance Practices. He represents hedge funds, private equity funds, banks and broker-dealers engaged in the purchase and sale of loans, claims, securities and other investments in domestic and international companies experiencing financial distress. Mr. Heller has significant experience advising clients in the following areas:
Secondary Loan Trading: Mr. Heller negotiates transfer documentation for assignments and participations of bank loans utilizing forms promulgated by the Loan Syndications and Trading Association (LSTA) for the U.S. market and the Loan Market Association (LMA) for the European/Asian markets for both par and distressed trades. Mr. Heller routinely advises clients on loan trading issues presented by confidential information. Recently, Mr. Heller has advised clients investing in Tribune, WR Grace, Ford, General Motors, Chrysler, Lyondell, Claire’s Stores, General Growth Properties, and Clear Channel, among others.
Trade Claims: For the past eight years, Mr. Heller has represented clients in their acquisition of trade claims against debtors in many large and complex bankruptcy cases, including Lehman Brothers, Borders, Circuit City, A&P, Glitnir Banki (Iceland), Kaupthing Banki (Iceland), Enron and Refco. These transactions involved the transfer of secured, administrative expense and general unsecured claims. Recently, Mr. Heller has provided advice to clients in their diligence into, and purchase of, claims against various domestic and international Lehman Brothers affiliates arising under terminated ISDA master agreements, repurchase agreements and complex securities offerings.
Post-Reorganization Securities: Mr. Heller regularly represents clients in connection with the trading and settlement of restricted securities issued by companies who have recently emerged from Chapter 11, utilizing various applicable exemptions from the registration requirements of the securities laws. Recently, Mr. Heller has represented clients trading in securities issued by Visteon, Delphi, GMAC and MGM.
Mr. Heller also represents clients in connection with evolving financial products, including Stand-By Claim Purchase (Put) Agreements, Credit Default Swaps and similar derivative instruments.
Mr. Heller joined the firm in 2008 and serves on the firm's Board of Directors. Prior to joining the firm, Mr. Heller was an associate at Kramer Levin and prior to that, a staff attorney in the Division of Enforcement of the United States Securities and Exchange Commission.
Associations and Committees
Mr. Heller is an active member of LSTA working groups and committees tasked with the development of standard documentation and resolution of disruptions in the secondary trading market for syndicated bank loans, including the initiative to develop a form of Participation Agreement for distressed transactions as well as ongoing revisions to the Purchase and Sale Agreement for distressed transactions and Trade Confirmations for distressed and par/near par transactions.
Education and Bar Admissions
Mr. Heller earned his Bachelor of Arts from the University of Michigan in 1997 and his Juris Doctor from Fordham Law School in 2000. He is admitted to practice in New York.