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Thomas T. Roubidoux

Partner

Thomas concentrates his practice in the areas of bankruptcy, workout and surveillance matters, and secured transactions under the Uniform Commercial Code. His primary focus is on lender-side financing in both the commercial and public finance marketplaces, from traditional lending transactions to more complex financing arrangements including asset securitizations and structured finance. Thomas also has significant experience in bankruptcy and UCC legal opinion matters, most forms of credit enhancement and working with most types of collateral, including equipment, inventory, credit card receivables, accounts receivable, other pledged revenue streams, investment property and student loans, among many others. 

  • Representing monoline bond insurer in UCC Article 9 dispute with liquidating trustee in SIPA-liquidation of Lehman Brothers Inc. over insurer’s security interest in more than $30 million in securities securing a Lehman guaranty of revenue bonds.
  • Representing numerous clients in the Lehman Brothers Holdings Inc. bankruptcy cases in connection with:
    • Defending against avoidance action commenced by Lehman debtor against swap counterparty and negotiating a resolution under court-ordered mediation procedures.
    • Negotiated resolution of claims objections filed against clients on account of terminated swaps and challenges by Lehman debtor to calculation method used to calculate termination amount owed by Lehman as swap provider.
    • Negotiated resolution of turnover action commenced by Lehman debtor seeking additional payments on account of swap terminated by client.
  • Counsel to bond purchaser on bankruptcy matters in connection with $60 million private placement of City of Detroit Public Lighting Authority Revenue Bonds issued through the Michigan Finance Authority to fund repairs and upgrades to the City’s street light system. Transaction was structured as a § 364 post-petition financing in the City of Detroit’s Chapter 9 bankruptcy case.
  • Counsel to dealer manager lead underwriter on bankruptcy matters in connection with tender offer by the City of Detroit for the purchase of $5.6 billion outstanding City of Detroit Department of Water and Sewerage (DWSD) Revenue Bonds and subsequent public offering and sale of new $1.8 billion DWSD Revenue Bonds to refund $1.4 billion of tendered DWSD Bonds and to provide additional funds for infrastructure improvements. Transaction was structured as a § 364 post-petition financing in the City of Detroit’s Chapter 9 bankruptcy case.