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Haynes and Boone

Craig S. Unterberg

Craig S. Unterberg

Partner

Expertise

  • Canada
  • Chapter 11 Debtor
  • Debt and Equity Financing
  • Finance

WSG Practice Industries

Activity

Haynes and Boone
New York, U.S.A.

WSG Leadership

ABA Group
Member
Profile
Craig Unterberg is the managing partner of the New York office of Haynes and Boone and heads up the firm's New York-based Prime Brokerage and Equity Lending Practice Group. With immense knowledge on the U.S. margin regulations, Craig provides extensive regulatory advice on margin lending issues to a multitude of financial institutions and hedge funds. Craig has worked on an industry-leading number of single stock and portfolio loan transactions to hedge funds, investment companies, and private equity groups making him a market leader in handling complex onshore and offshore margin facilities. In such role, Craig provides regulatory guidance on Regulation U, Rule 144, and Article 8 of the Uniform Commercial Code. Craig also works on a wide range of derivative, prime brokerage, and hedge fund financing transactions for both buy- and sell-side counterparties.

In addition, Craig represents borrowers and lenders in the private equity, leveraged lending, asset based and M&A financing spaces. Craig also spends significant time handling loan restructurings and DIP facilities. Craig regularly leads national CLE presentations on margin loans, intercreditor agreements, forbearance agreements and bankruptcy matters relating to lending transactions.

Bar Admissions

New York, Texas

Education

J.D., Tulane University Law School, 1998, with honors
B.A., Tulane University
Areas of Practice

Canada | Chapter 11 Debtor | Debt and Equity Financing | Finance | Financial Regulatory | Investment Banking and Broker Dealer | Investment Management | Lender Representation | Multi-Currency/Cross Border Financings | Prime Brokerage and Equity Lending | Private Equity | Regulatory Compliance

Professional Career

Significant Accomplishments

Representing a large investment bank in margin stock liquidity loan agreements in excess of $2.5 billion to domestic investment funds.

Representing the lead lender in loans and repurchase agreements in excess of $3 billion to hedge funds.

Representing certain financial institutions in a $10 billion committed reverse repurchase facility and a $10 billion committed repurchase facility of sovereign debt with a European hedge fund.

Representing the administrative agent and lead lender in margin loans in excess of $1 billion to mutual fund investment companies.

Representing the lead lender in margin loans in excess of $2 billion to hedge funds secured by margin stock.

Representing the lead agent in a US$3 billion equivalent cross-border credit facility to publicly-traded company involving U.S., Canada, Euro, Japan, Korea, and China tranches.

Advising major banks, financial institutions, hedge funds, and corporate borrowers and lenders on regulatory issues related to margin lending, including Regulation T, U, and X.

Representing lenders and borrowers in the workouts and restructuring of loans to health care providers, airlines, retail companies, real estate investors, manufacturing companies, and internet companies.

Advising lenders and borrowers with respect to the legal issues relating to the financing, leasing and foreclosing of aircraft.

Professional Associations

  • American Bar Association
Articles

ARRC Releases Updated LIBOR Fallback Language for USD Syndicated Loans
Haynes and Boone, July 2020

Quick Overview The ARRC released an updated version of its recommended LIBOR fallback language for USD LIBOR syndicated loans on June 30, 2020. Among other updates, the updated fallback language recommends a “Hardwired Approach” to effect LIBOR replacement and removes the previous alternative recommendation for an “Amendment Approach...

COVID-19 Advice: Post-Default Enforcement Against Equity Collateral
Haynes and Boone, April 2020

The pledge of equity interests of a privately held company as collateral is a common occurrence in a wide variety of financing structures. What is not as common perhaps is for secured creditors to analyze, at the initial stages of a transaction, the road maps that may serve to mitigate any meaningful delays or diminution in the value of such collateral in a foreclosure scenario...

New York Department of Financial Services Clarifies Executive Order on Consumer Forbearance
Haynes and Boone, April 2020

Last week, we reported on Executive Order No. 202.9 issued by Governor Cuomo, and some of the important questions posed by that Executive Order. We suggested that the implementing regulations by the NYS Department of Financial Services (the “DFS”) would likely clarify these points, and this has turned out to be the case. On March 24, implementing regulations were released by the Superintendent of Financial Services, Linda A...

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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