Robert Simons, Reed Smith
Robert Simons is a partner at Reed Smith legal firm and specialises in representing major financial institutions with distressed aviation loans.
+1 412 288 7294
“Start from the beginning: think through the deal structure at inception and consider documentation options. For example, will a letter of intent, term sheet or pre-sale agreement help reach a “meeting of the minds” to avoid later impediments to closing? In what country is the aircraft registered?
“Avoid surprises. Make clear whether deposits are refundable or non-refundable during due diligence. Do the searches necessary to be sure title is clear and interests are properly registered and recorded. Be aware of applicable rules and regulations, including anti-money laundering laws.”
“I represent major financial institutions with distressed aviation loans, including workouts of the loan or the repossession and sale of aircraft collateral.”
Bob is a member of the Financial Industry Group, practicing in the area of Commercial Restructuring & Bankruptcy. Bob has extensive experience in commercial transactions, bankruptcies, and restructuring matters in both “old” and “new” economy industries. He has experience in negotiating (in workouts and restructurings) and enforcing and defending (in litigation or bankruptcies) the rights of secured creditors; unsecured creditors and creditors’ committees; junior debt and equity holders, troubled companies, and boards of directors in financial restructurings and reorganization matters. He has also represented the interests of asset and fund managers, including fiduciaries, in troubled company situations. Bob has also represented numerous buyers and sellers of distressed assets, debt and equity. His national practice has included appearances in more than 25 jurisdictions throughout the United States in aviation, hospitality, energy, telecommunications, automotive, steel, and health care industry cases, which has resulted in extensive knowledge of state and federal regulatory agencies such as the Federal Aviation Administration, the Pension Benefit Guaranty Corporation, the FCC and environmental agencies.
Recent cases include serving as bankruptcy counsel in the mass tort chapter 11 cases of North American Refractories Company, Harbison-Walker Refractories Companies and A.P. Green Industries, Inc., each a former producer of asbestos products. In addition, Bob has recently represented a private equity firm in the restructuring of a company, including the resolution of officer and director liability claims for the benefit of the client. Bob has also recently represented secured creditors in: the Max and Erma’s Restaurants bankruptcy case (a 70-restaurant regional chain); Shubh Hotels (a 700-room hotel); and numerous distressed aircraft loans.