Overview
Corporate Trust and Securitization Default Practice
Steve represents trustees, master servicers, securities administrators, investors and other parties to troubled ABS, RMBS, CDO, CLO and other structured products transactions. The matters have included bankruptcy cases of parties to the transactions, servicer default and transfer issues, disputed transaction administration issues, claims by and against the trustees and other parties, RMBS repurchase claim litigation and settlements, trust instruction proceedings and other matters.
Bankruptcy and Restructuring Practice
Steve represents corporate trustees, creditor committees and secured and unsecured lenders in bankruptcy cases, SIPA liquidation proceedings, receiverships and out-of-court restructurings. He has represented corporate trustees and committees in the Lehman Brothers (Bankr. S.D.N.Y), Farmland Industries (Bankr. W.D. Mo.), Centran Corporation (Bankr. D. Minn.), Ruhr/Paragon (Bankr. D. Minn.), First Merchants (Bankr. D. Del.) and numerous other bankruptcy cases. He represented the SIPA trustee in MJK Clearing (Bankr. D. Minn.), which was the second largest Securities Investor Protection Act liquidation proceeding, involving approximately 175,000 customer accounts totaling in excess of $10 billion. His work also includes representing one of the largest unsecured creditors in a Chapter 11 case involving what once was one of the largest commodity brokerage firms in the United States.
Steve has represented secured lenders in numerous bankruptcy cases both in and outside of Minnesota.
Steve's bankruptcy practice includes defending preference and fraudulent conveyance actions. He also represents franchisors, retailers and equipment and real property lessors in bankruptcy cases and on bankruptcy-related issues.
Services & Industries
Credentials
Bar Admissions
Minnesota
Court Admissions
U.S. Court of Appeals for the Eighth Circuit
U.S. District Court for the District of Minnesota
Education
University of Iowa College of Law
J.D. with high distinction, Order of the Coif (1990)
University of Iowa
B.G.S. Phi Beta Kappa, with highest distinction (1987)
Experience
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2021 1 min readLehman Brothers Bankruptcy Case Affects Hundreds of Residential Mortgage-Backed Securitization TransactionsBanking & Finance Financial Services Institutional Trustees & Agents Corporate Restructuring Corporate Trust Finance & Restructuring
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2021 1 min readRegional Bank Serves as Trustee for Trusts That Purchase, Hold and Sell LoansBanking & Finance Financial Services Institutional Trustees & Agents Corporate Trust Finance & Restructuring
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2020 1 min readCourt Approves JPMorgan Settlement on Mortgage Loan Quality and ServicingBanking & Finance Financial Services Institutional Trustees & Agents Corporate Trust Financial Services Litigation Finance & Restructuring
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January 2019 1 min readClient Resolves Bankruptcy Litigation Trustee’s Claims to Recover Alleged Preference and Fraudulent Transfer PaymentsCorporate Restructuring Litigation
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2018 1 min readDefendants Sued in Petters Fraudulent Conveyance LawsuitsCorporate Restructuring Financial Services Litigation Litigation
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2016 1 min readTrustee Appoints Separate Trustees to Enforce Repurchase Claims on RMBS TrustsBanking & Finance Financial Services Institutional Trustees & Agents Lending & Finance Corporate Trust Corporate
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2013 1 min readADM Completes International Trade Receivables SecuritizationAgribusiness Commodity Production & Processing Food & Agribusiness Lending & Finance Corporate International Transactions
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2013 1 min readMajor Commercial Bank Trustee Reclassifies Modified RMBS LoansBanking & Finance Financial Services Investment Banking Institutional Trustees & Agents Corporate Trust
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2010 1 min readBank Trustee Resolves Fraud by Medical Provider Financing Company
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2009 1 min readWells Fargo Completes Workout of Equipment Lease Originator
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2008 1 min readMajor Commercial Bank Transfers Mortgage Servicing After Servicer FailureFinancial Services Institutional Trustees & Agents Lending & Finance Corporate Trust Corporate
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November 2006 1 min readSecurities Investor Protection Act Liquidation Proceeding: MJK ClearingFinancial Services
Insights & Events
Leadership & Community
Pro Bono
- Debtor/Creditor
- Landlord/Tenant
Professional Associations
- Minnesota State Bar Association — Bankruptcy Law Section
Honors
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Faegre Baker Daniels — Pro Bono Honor Roll, 2016