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Mr. Thatch is a member of White & Case's Securitization Practice where he focuses on advising clients in connection with domestic and international structured finance transactions. Mr. Thatch has particular expertise in "esoteric" securitizations, leveraged investment funds and complex financial transactions and structures that require highly customized structuring and documentation.

Mr. Thatch has advised lenders, underwriters, monolines and investment managers in connection with leveraged investment funds, securitizations, workouts and sophisticated financing trades. Among the clients he has represented are JPMorgan, Morgan Stanley, Barclays, Deutsche Bank, Avis Budget Group, Symphony Asset Management and Anchorage Capital.

Mr. Thatch's experience includes several types of financing and securities offerings. He has advised clients in transactions with private placements, Rule 144A and Regulation S offerings as well as revolving and syndicated credit facilities. Mr. Thatch has also assisted large financial institutions with analyzing and/or restructuring complex leveraged investment vehicles and other workouts involving structured finance.

Mr. Thatch is recognized in the 2011 Edition of Chambers USA, the respected guide to the profession, as a leading practitioner in the structured finance field. He joined White & Case in 1997 and has spent his whole career with the Firm in New York.

Recent representative experience:

Representation of Barclays Capital Inc., as Initial Purchaser and Placement Agent, and American AgCredit, FLCA, in the first-of-its-kind issuance of secured notes in connection with a whole business timber securitization, a transaction that was "Highly Commended" by the Financial Times in its 2011 US Innovative Lawyer Report.
Representation of funds managed by Anchorage Capital Group who owned the majority senior noteholders and were the petitioning creditors/plan proponents of Zais Investment Grade Limited VII ("Zais VII"), a CDO squared, in the recent bankruptcy case, in re Zais Investment Grade Limited VII, 11-20243 (RTL). The Zais VII bankruptcy is the first involuntary prepackaged bankruptcy case, as well as the first use of chapter 11, to unwind a CDO in bankruptcy court.
Representation of a group of investment banks, portfolio managers and investors in the CLO industry, in the drafting and submission of a comment letter, submitted on June 10, 2011 to various federal agencies in response to their "skin-in-the-game" proposal set forth in Credit Risk Retention, 76 Fed. Reg. 82 (proposed March 29, 2011). The comment letter rejects the agencies' assertion that the proposed credit risk retention rules can appropriately and legally be applied to investment managers of CLOs. The comment letter was largely based upon a client alert that White & Case produced on April 28, 2011. Several industry participants adopted the same argument. (See: American Bar Association risk retention comment letter at p.94; SIFMA risk retention comment letter at p. 68; and the American Securitization Forum risk retention comment letter at p. 135.)

	David W. Thatch
Download vCard Expertise Securitization/Structured Finance Capital Markets Awards White & Case Ranked One of Most Innovative US Law Firms, Wins Three Awards in FT US Innovative Lawyers 2011 Report	Partner New York T: + 1 212 819 8342 F: + 1 212 354 8113 E: *Practice Experience* Mr. Thatch is a member of White & Case's Securitization Practice where he focuses on advising clients in connection with domestic and international structured finance transactions. Mr. Thatch has particular expertise in "esoteric" securitizations, leveraged investment funds and complex financial transactions and structures that require highly customized structuring and documentation. Mr. Thatch has advised lenders, underwriters, monolines and investment managers in connection with leveraged investment funds, securitizations, workouts and sophisticated financing trades. Among the clients he has represented are JPMorgan, Morgan Stanley, Barclays, Deutsche Bank, Avis Budget Group, Symphony Asset Management and Anchorage Capital. Mr. Thatch's experience includes several types of financing and securities offerings. He has advised clients in transactions with private placements, Rule 144A and Regulation S offerings as well as revolving and syndicated credit facilities. Mr. Thatch has also assisted large financial institutions with analyzing and/or restructuring complex leveraged investment vehicles and other workouts involving structured finance. Mr. Thatch is recognized in the 2011 Edition of Chambers USA, the respected guide to the profession, as a leading practitioner in the structured finance field. He joined White & Case in 1997 and has spent his whole career with the Firm in New York. Recent representative experience: Representation of Barclays Capital Inc., as Initial Purchaser and Placement Agent, and American AgCredit, FLCA, in the first-of-its-kind issuance of secured notes in connection with a whole business timber securitization, a transaction that was "Highly Commended" by the Financial Times in its 2011 US Innovative Lawyer Report. Representation of funds managed by Anchorage Capital Group who owned the majority senior noteholders and were the petitioning creditors/plan proponents of Zais Investment Grade Limited VII ("Zais VII"), a CDO squared, in the recent bankruptcy case, in re Zais Investment Grade Limited VII, 11-20243 (RTL). The Zais VII bankruptcy is the first involuntary prepackaged bankruptcy case, as well as the first use of chapter 11, to unwind a CDO in bankruptcy court. Representation of a group of investment banks, portfolio managers and investors in the CLO industry, in the drafting and submission of a comment letter, submitted on June 10, 2011 to various federal agencies in response to their "skin-in-the-game" proposal set forth in Credit Risk Retention, 76 Fed. Reg. 82 (proposed March 29, 2011). The comment letter rejects the agencies' assertion that the proposed credit risk retention rules can appropriately and legally be applied to investment managers of CLOs. The comment letter was largely based upon a client alert that White & Case produced on April 28, 2011. Several industry participants adopted the same argument. (See: American Bar Association risk retention comment letter at p.94; SIFMA risk retention comment letter at p. 68; and the American Securitization Forum risk retention comment letter at p. 135.) *Bars and Courts* New York State Bar, 1998 *Education* JD, Rutgers School of Law, Highest Honors, 1997 BS, Rutgers University, Highest Honors, 1994 *Languages* English *Citizenship* United States	News & Media White & Case Secures Victory for Anchorage Capital in Zais CDO Bankruptcy Publications Risk Retention Rules for Managed CLOs: Are Regulators Overstepping Their Authority? Will the Proposed US Credit Risk Retention Rules Apply to Your Transaction? More...