Banking & Finance: Pennsylvania

THE FIRM This team offers a full range of services to its impressive client base, which comprises both private and public companies. The group has an extensive track record of handling a wide range of financings, varying from retail, banking and private equity to lender liability litigation and healthcare finance. In addition, the group earns widespread praise for its skill in handling asset-based finance transactions. 

Sources say: "They have strength all the way through and are right there beside us offering assistance."

KEY INDIVIDUALS Lawrence Flick continues to represent PNC Bank, regularly acting as agent in a number of revolving credit facilities. One source comments: "He was able to get involved and reach a resolution - he provided a great deal of insight." 

Harvey Forman is popular with clients, who appreciate his depth of knowledge. His practice ranges from financial services and leasing to restructuring and bankruptcy.

Mark Rabinowitz also recently acted on behalf of PNC Bank: on this occasion, as the agent in an acquisition bid for the publishing arm of the Thompson Media Group. Clients are quick to highlight his strengths: "He is business-savvy, and he provides practical and timely advice - he provides more than just value for money." 

Public finance is the focus of Joan Stern's practice. She is highly respected in this market and recently represented Morgan Stanley as underwriter's counsel for the Pennsylvania State Public School Building Authority. 

Michael Graziano is one of several Blank Rome attorneys who also regularly practices in New Jersey. "His ability to help us reach compromises when we close a loan," was quickly noted by an appreciative client. He recently worked with Flick to represent Sovereign Business Credit as the lender to an international manufacturer in workout that took place out of court. 

Bruce Lesser is a seasoned practitioner who continues to be regarded in the market as a dean of the banking and finance arena. 

THE FIRM Reed Smith has a wealth of talent in the financial services area. It caters to the financing needs of a wide range of industries, including aviation, real estate, infrastructure and media finance. The group recently represented Wells Fargo as the agent bank and lead arranger in a credit facility, valued at $200 million, for a financial services company. The group counts M&T Securities and HSBC among its prestigious client base.

Sources say: "This practice is top-notch; it has extremely responsive attorneys who are solution-focused and helpful in getting deals done while mitigating risk."

KEY INDIVIDUALS Lisa Kabnick regularly represents both borrowers and lenders and is known for handling syndicated secure transactions in the areas of healthcare, licensing and manufacturing. "She is client-focused, provides good counsel and is good at handling both clients and other attorneys," notes one source. 

Leonard Bernstein founded, and currently chairs, the regulatory practice of this firm's financial services group. His practice focuses on the representation of mortgage bankers and other financial institutions and advising on compliance issues in federal and state matters. 

Michael Bleier has significant in-house experience, having previously worked at Mellon, which informs his well-regarded financial regulatory practice.

James Lawlor advises his clients on project financing, commercial and public transactions, and he also regularly acts as counsel for underwriters and borrowers of credit agreements. A recent highlight for him was advising on two secured loans for Consol Energy, valued at $3 billion.

David Surbeck has significant knowledge of syndicated and secured matters, where he is adept in his representation of both lenders and borrowers. "He is very good at providing an overview of the situation and is highly succinct," a client enthused.

THE FIRM This group offers an extensive bench of financial expertise. In addition to its core regulatory practice, its lawyers are also highly adept at defending consumer finance litigation. The team enjoys a strong reputation for its communication, commercial awareness and strength in complex issues, and it maintains a substantial client base that includes PNC Bank, Wells Fargo and Firstrust Bank.

Sources say: "They are practical, smart and good drafters; they have really taken the time to understand our business and our appetite for risk - we look at them as a primary resource for complex issues."

KEY INDIVIDUALS Carl Fridy heads up the transactional practice for this firm and is adept at handling both secured and unsecured loans. He has recently been involved in the purchase of tax-free bonds for two hospital groups. "He has sound judgment, is thoughtful, practical and identifies the right issues without overanalyzing them," comments one source. 

Alan Kaplinsky leads the consumer financial services team. He counsels financial institutions on regulatory compliance and defends clients in related litigation. "He is one of the leading authorities on arbitration clauses in consumer credit contracts," enthuses one client. 

Jeremy Rosenblum wins praise for his skill in helping clients navigate new regulations. His practice includes counseling clients on federal and state compliance on a variety of issues such as overdraft fees and interest limits.

Steven Miller's practice has an emphasis on the asset-based lending market, as well as on secured lending and syndicated loans. He recently acted on the loans for the construction and metal recycling industries. Clients appreciate his ability to "identify specific issues and put them into layman's terms. He can cut through the clutter." 

Richard Perelman "has real tactical strength and will look beyond the issues." His focus includes syndicated loans and workouts.

Mark Furletti is an associate in the regulatory group. He has extensive experience dealing with a multitude of issues relating to credit card transactions and is regularly involved in consumer lending cases. 

THE FIRM Drinker Biddle comes highly recommended for the depth of experience and breadth of knowledge that the team can provide to various clients. The group comprises 14 experienced attorneys who regularly handle securitizations, tax-exempt bond debt, derivatives and mezzanine debt. The team's clients include Arcadia University, The American National Red Cross and ACTS Retirement-Life Communities.

Sources say: "They are our primary firm for complex, fully underwritten facilities, due to the knowledge it has as a group."

KEY INDIVIDUALS Jill Bronson concentrates on senior lender credit facilities, where she regularly deals with agent banks. She is also experienced in advising clients on the issuing of debt securities and recently advised Aker Philadelphia Shipyard on its restructuring. One peer notes she is nice to have on the other side as "you know you'll reach a good result." 

Charles Congdon is known for working with underwriters and issuers in the tax-free and taxable bond market. He is commonly involved in the governmental, healthcare and education arenas. The past year saw him advise the underwriters, Merrill Lynch, of bonds for the University of Pennsylvania and its health system. 

Judith Reich has niche expertise in acting for agent banks on senior debt and as the sponsors of mezzanine debt. She is adept at negotiating and documenting all aspects of commercial loans and she wins market recommendations for her pragmatism and technical skill. 

THE FIRM This Pittsburgh-based group represents a number of high-profile financial institutions on numerous secured transactions, commonly acting for the lead arranger on syndicated deals. The team is well versed in advising on financing across a number of fields that include energy, real estate investment and development and the security alarm industry. 

Sources say: "They understand our practice and deliver incredible service. They will answer us at the drop of a hat."

KEY INDIVIDUALS Craig Heryford routinely deals with both debt and equity financings and also has experience in handling private equity and venture capital financings. "He is talented, practical and creative - he understands that the legal tail should not wag the dog," comments one peer. 

Calvin Harvey is a seasoned practitioner who is well known in the financial services market and heads up this department. His expertise includes syndicated loans, real estate finance and tax-exempt matters.

THE FIRM This team concentrates its banking and finance expertise in the representation of borrowers and corporate clients. The group is adept at handling large corporate facilities, and loans and real estate financings are seen as particular areas of key strength.

Sources say: "This team has a lot of depth and it is brought to bear appropriately - it is not gratuitously overstaffed and the team offers quality advice."

KEY INDIVIDUALS Michael Pedrick's experience includes acting on behalf of both borrowers and lenders on a wide range of transactions. One commentator says: "We consider him a valuable resource and adviser to our company." He also wins praise for his ability to "provide several options with insight into the potential consequences of these actions."

THE FIRM This group is well known in the Pennsylvania market, and with three offices across the state it is well placed to provide impressive coverage. It offers expertise both on the banking and regulatory aspects of deals. The group has recently advised clients on private capital-raising, letters of credit and loan facilities.

KEY INDIVIDUALS Richard Zucker has a substantial reputation for his commercial lending practice, where he represents a wide variety of financial institutions including mezzanine lenders and private investment funds. "He is practical and efficient - he turns things around very quickly," notes one source.