Services – Banking

Services – Banking

Banking is no longer a business of tradition. Technology and competition are the drivers of lending and investing innovation at the most successful financial institutions. BoltNagi, PC’s banking practice began at the inception of the law firm, when we became Counsel to the Virgin Islands Bankers Association. Since then we have served banks and financial institutions by focusing on bottom-line, practical advice and good business judgment:

We work with these clients in the following areas:

  • Syndicated financing transactions
  • Financing of leveraged acquisitions
  • Project and structured financing
  • Real estate financing and syndications
  • Commercial loans
  • Institutional placements of debt securities
  • Foreclosures and loan workouts
  • Disposition of troubled properties
  • Bank Regulatory Matters

Our lawyers are recognized leaders at making the most complex asset securitization and finance transactions happen, coordinating BoltNagi, PC’s resources to make sure the deal gets done, the lender’s collateral is protected and the requirements of regulators are met.

Commercial Lending and Syndicated Finance

BoltNagy, PC represents lenders and borrowers in virtually every type of commercial lending transaction.  We have vast experience in large and small, secured and unsecured commercial credit facilities ranging from small loans to single borrowers to multi-million dollar syndicated credit facilities.  These include traditional commercial loans, asset based lending agreements, construction and development loans, leveraged and synthetic leases, securitization conduits and more exotic forms of structured finance.

We possess extensive expertise regarding the syndicated loan market and the type of structure and documentation expected in that market.  We lend assistance in all phases of a syndicated transaction, establishing a structure, assisting in the preparation of an information memorandum and term sheet, performing due diligence, and negotiating, documenting and closing the transaction.  We represent many borrowers in syndicated transactions as well, and our lawyers have gained considerable insight from serving as counsel to both lenders and borrowers.

We have assisted lenders, large and small, in taking virtually every kind of personal and real property as collateral including accounts, inventory and equipment, intellectual property, real estate, producing and non-producing oil and gas properties and credit enhancement vehicles.  Our experience includes all types of loan-related documentation including intercreditor agreements, interest rate option and swap agreements, collateral agency agreements, subordination agreements, collateral custodian agreements, purchase and sale agreements, letters of credit and many others.

Our orientation is to finalize a loan transaction in the simplest of structures consistent with our clients’ needs, as expeditiously and cost-effectively as possible.

Mortgage banking and securitization – sophisticated and efficient

We represent mortgage banking and financial institutions in all aspects of the mortgage banking business and thoroughly understand mortgage loan securitization. Our lawyers know the business from the ground up, as we help many loan originators create, buy and sell loan servicing rights, buy and sell loan origination businesses, and originate a wide variety of first lien/single family and commercial/multifamily mortgage loan products. We advise clients on transactions involving individual mortgage loans (including whole loan sale, participation and pass-through transactions), as well as a wide range of mortgage loan securitization and conduit programs.

We securitize residential and commercial loan pools that reflect the latest rating agency criteria, servicing developments and investor demands, and meet all rules and standards of the Federal Home Loan Mortgage Corporation (FHLMC), Fannie Mae (FNMA) and Ginnie Mae (GNMA).

Lender liability – flexible and tough

We often represent lenders as secured creditors in loan workouts and restructurings, bankruptcies, liquidations and foreclosures. When our lawyers are involved in transactions from the start, we can build maximum creditor protection into the loan documentation. If reorganization or liquidation of a debtor becomes necessary, we pursue the action best suited to recover our client’s investment. We take a flexible approach to collateral recovery, advising banks on distressed asset sales or on becoming lenders to, or securing assets from, the debtor-in-possession. But if foreclosure or bankruptcy litigation is necessary, we do everything possible to secure maximum collateral recovery.

Regulatory compliance – practical and effective

The attorneys at BoltNagi, PC wrote the “Virgin Islands Financial Services Act of 2005”, the comprehensive revision to the banking laws of the Territory.  Our attorneys understand the complex banking regulatory system. Our lawyers advise clients on the requirements for the acquisition, brokering, origination and/or servicing of commercial and mortgage loans . We work often and effectively with regulators in the Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Office of Thrift Supervision (OTS), the Comptroller of the Currency (OCC) and the Virgin Islands Division of Banking & Insurance to:

  • Secure approval for mergers and acquisitions
  • Help new financial institutions obtain charters and deposit insurance
  • Form bank holding companies
  • Address bank examiner concerns about lending programs, asset quality and other concerns
  • Communicate on restructuring, bank purchases and sales, and similar changes

Banks face complex and sometimes conflicting demands. They are businesses that must innovate amid global competition and increased regulation – fiduciaries that must safeguard the financial security of millions – economic gatekeepers that must translate regulatory and economic policies into everyday business transactions. Bankers don’t just need a lawyer; they need skilled business advisors with creative insight on how best to meet their responsibilities.

BoltNagi, PC combines a quarter century of banking counsel with hands-on experience in the latest financial services industry innovations. Because we speak the language of banking and finance and are a leading player in the industry, we will give you the straight talk and real answers you deserve.


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