Practice Experience
Michael W. Smith concentrates on aircraft finance, equipment leasing, financial guaranty insurance products and other corporate transactions. His aircraft finance experience includes US Ex-Im Bank and other export credit agency-supported transactions, leveraged finance and operating leases, portfolio acquisitions and finance transactions, vendor finance matters, restructuring and bankruptcy matters, Islamic finance, securitizations, securities offerings and sales of lease receivables.
In independent publications and surveys from Euromoney plc, Who's Who Legal, US News Best Lawyers, Legal 500 and Chambers, Mr. Smith has been identified as a leading aviation, transportation and asset finance lawyer.
His recent aircraft finance transactions include the representation of Pegasus Airlines of Turkey, Virgin Blue Airlines, Aviation Capital Group, Credit Suisse, Toronto Dominion and other parties in connection with the US Ex-Im Bank-supported financing of Boeing 777 and Boeing 737 aircraft, Gulfstream aircraft and Sikorsky helicopters, including guaranteed loan structures, direct loans and capital markets take-out transactions.
He has also represented:
- Aviation Capital Group in its US$600 million issuance of senior unsecured notes, the first Rule 144A notes offering by ACG, in a transaction selected as "2010 Deal of the Year: North America" by Airfinance Journal;
- Natixis Transport Finance in the purchase of a portfolio of secured loans to customers of Embraer and Pegasus Aviation Finance Company/AWAS in the US Ex-Im Bank-supported financing of a Boeing 747-400 freighter aircraft for Cargolux, in transactions that were awarded Airfinance Journal's "2007 Aerospace Deal of the Year" and "2007 Cargo Deal of the Year," respectively;
- Aircraft leasing companies in connection with secured loans, joint ventures and unsecured note offerings;
- An engine manufacturer in connection with various vendor finance matters; and
- Lessees and lenders in French, Italian and Luxembourg lease transactions.
Mr. Smith has worked on equipment leases involving a wide range of assets, including aircraft and engines, railroad rolling stock, air traffic control equipment, power plants, gas and heat distribution networks and telecommunications equipment. He also has experience in project finance, joint ventures, shipping, acquisition finance, trade receivables finance, venture capital and leveraged buyout transactions.
He is active in pro bono matters and serves as the relationship partner to Acumen Fund, International AIDS Vaccine Initiative and Rainforest Alliance.
Mr. Smith was previously based in Greece, England, Saudi Arabia and the United Arab Emirates.
Bars and Courts
New York State Bar, 1981
Education
JD, Duke University School of Law, 1980 BBA, University of Iowa, 1977
Publications and Presentations
Legal Panel Member, "Insider Views on Industry Expectations, Accessing the Capital Markets, Export Credit Agencies, and Re-Engining," ACI Aircraft Finance & Leasing Conference – New York, 2011
Legal Panel Member, "US Ex-Im Bank's Response to the Financial Crisis," American Bar Association Meetings – Denver, 2010
Legal Panel Member, "Sale of Unsecured Claims against Airlines in Bankruptcy," New York Airfinance Conference, 2006
"Working it Out" (article on airline lease and loan restructuring), Airfinance Journal, January 2004
Speaker, "Ex-Im Bank and ECA Financing-Perspectives from the Airline," China Airfinance Conference – Beijing, 2004
Speaker, "Ex-Im Bank and ECA Financings - a Legal Perspective," European School of International Aviation Finance – United Kingdom, 2004
Speaker, "Aircraft Loan and Lease Workouts," 18th International Airfinance Legal Conference - Washington, DC 2003
Languages
English
Citizenship
United States
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