Jenner & Block

 

Mr. Klein concentrates his practice in financial transactions, Uniform Commercial Code work, secured and unsecured lending, credit enhancement issues and credit workouts, funds transfers, and financial institutions work, acquisitions and international transactions.  Recent transactions include:
 

  • Structuring, negotiating and drafting a four-way $150 million year recycled aluminum support, processing and supply agreement;
     
  • Structuring, drafting and obtaining regulatory approval for a global bond program sponsored by the Community Currency Exchange Association of Illinois for its members in lieu of their posting $100 million in individual bonds, allowing the membership to realize a substantial savings on premiums;
     
  • Counseling a supplier of auto parts in dealing with a major auto parts purchaser on transactions of a $100 million per year;
     
  • Structuring and drafting an internet-based international trade finance program for a bank client which combines features of letters of credit, export insurance and documentary draft collections;
     
  • Counseling major corporate clients on their positive pay and reverse positive pay agreements with major banks;
     
  • Representing a beneficiary on multiple drawings on a $32 million letter of credit amended 45 times which was posted in lieu of retention for construction of a steel plant;
     
  • Assisting a major international corporation in securing, within 24 hours, a $105 million supersedeas bond through use of a letter of credit, later increased to $170 million until the judgment appealed from was reversed through the firm’s efforts;
     
  • Counseling and drafting provisions for a major energy producer for its EEI, ISDA and supply contracts dealing with credit enhancement, cross-product netting and utilization of the safe-harbor provisions of the Bankruptcy Code;
     
  • Documenting a large vessel loan for a bank lender including negotiating and obtaining a unique vessel loan title policy for three foreign flagged vessels insuring the validity, perfection and priority of the lender’s mortgages;
     
  • Representing a major insurance company in its $300 million purchase of another life insurance company;
     
  • Preparing and filing a successful amicus brief in the Seventh Circuit for the Credit Union National Association and the Illinois Credit Union League in an appeal of an adverse ruling extending the statute of limitations for employee check defalcations from three to eight years;
     
  • Advising a major foreign check processor on regulatory restrictions and requirements dealing with foreign outsourcing for U.S. state and national banks;
     
  • Drafting letters of credit up to $54 million to stay judgments pending appeal that are posted in lieu of a supersedeas bond.

Among the major transactions in which he has been integrally involved in the past were:

  • Representing of the Federal Reserve Bank of Chicago in the 1984 bailout of the Continental Illinois National Bank.
     
  • Representing Sinochem (China National Chemicals Import and Export Corp.) in its acquisition of the Agri-Chemicals Division of United States Steel.