Education

  • Trinity College, Hartford, B.A. Economics (1980)
  • Western New England University School of Law, J.D., Law Review (1983)

Admissions

  • Connecticut
  • District of Columbia
Scott Lessne, Senior Counsel Washington, D.C.
slessne@crowell.com
Phone: +1 202.624.2597
1001 Pennsylvania Avenue NW
Washington, D.C. 20004-2595

Scott A. Lessne is a senior counsel in the Financial Services Group at Crowell & Moring's Washington office. Scott's practice involves the representation of financial institutions in connection with the negotiation and documentation of secured and unsecured commercial, asset based and real estate loan restructures, as well as advising clients on legal issues arising in complex single and multi-lender loan workouts and restructures. In addition, Scott advises financial institution clients on creditors' rights remedies including judicial and non-judicial enforcement actions and bankruptcy strategies. Scott also assists clients in structuring and documenting new complex commercial loan transactions.

His prior experience includes tenure as the senior in-house lawyer at a major global bank responsible for providing and managing all legal services for the commercial and real estate loan workout division of the corporation. Scott has also served as the general counsel for the healthcare finance division of a commercial finance company and more recently as the general counsel, senior vice president and corporate secretary of the finance company's regulated bank subsidiary where he provided  regulatory and compliance counseling and advice to senior bank management and the Board of Directors. He also served on the institution's Enterprise Risk and Governance and Operations Committees. During his 20-year tenure as in-house counsel, Scott actively participated in and managed the legal services relating to the following matters, among many others, for his financial institution clients:

  • Investigation and involuntary Chapter 7 of a $1 billion global metals  trading company fraud.
  • Restructuring and chapter 11 of a $300 million syndicated loan to a global lighting equipment manufacturer and supplier.
  • Restructuring and payoff of a $150 million syndicated loan to a global sea cargo container company.
  • Restructuring of syndicated loans to subprime automobile lenders and equipment leasing companies.
  • Bankruptcy and Federal District Court litigation in connection with global energy and telecom company frauds.
  • Structuring and negotiating $500 million of revolving and term loan facilities for the post bankruptcy acquisition and working capital needs of a national healthcare company.
  • Creation of a state charted industrial loan bank and the acquisition of branches and deposits from a failing financial institution.

Representative Matters Since Joining Crowell & Moring Include:

  • Representation of a consortium of global financial institutions in connection with an multi-million dollar pre-paid fee arrangement with an international swap data repository organization.
  • Representation of a global aerospace manufacturing company in connection with a $500 million refinance of secured debt.
  • Representation of a distributor of specialty medical equipment in connection with a $40 million asset-based credit facility.
  • Representation of a real estate special servicer in connection with a deed-in-lieu transaction involving multiple Class-A office properties.  
  • Representation of a Chilean manufacturing company in connection with a multi-million dollar cross-border credit facility.

Prior to his in-house experience, Scott was in private practice where he developed his experience in commercial loan restructuring, creditors' rights and lending. Scott began his legal career as a law clerk to the Superior Court Judges of the State of Connecticut.

Scott is a past President of the Association of Commercial Finance Attorneys, Inc. and is a Fellow and former Regent of the American College of Commercial Finance Lawyers. He recently co-chaired the ABA Commercial Finance Committee's subcommittee on Loan Documentation. He has taught a course in Secured Transactions as a member of the adjunct faculty of Suffolk University Law School. Scott is a regular speaker on topics relating to commercial finance, loan workouts, creditors' rights and bankruptcy.



Affiliations

Admitted to Practice: Connecticut, District of Columbia, United States District Court for the District of Connecticut, United States Court of Appeals for the Second Circuit. 

Memberships

American Bar Association, Business Law Section, Commercial Finance Committee:

  • Administrative Committee Director
  • Past Co-Chair-Commercial Loan Documentation Subcommittee        
  • Member-Joint Task Force On Deposit Account Control Agreements  
Connecticut Bar Association, Commercial Law and Bankruptcy Section
  
American College of Commercial Finance Lawyers:      
  • Fellow and Past Member -Board of Regents  
Association of Commercial Finance Attorneys, Inc.:
  • Past President and Member-Board of Directors

Teaching Engagement

Suffolk University Law School, Boston Massachusetts-Course: Secured Transactions (2002)



Speeches & Presentations

  • "Bank Secrecy Act and Anti-Money Launder Overview: A Primer for Transaction Counsel or 'Am I Really Supposed to Know This?'" ABA Business Law Section Spring Meeting (April 4, 2013). Presenters: Cari N. Stinebower and Scott Lessne.
  • "Bank Secrecy Act & Anti-Money Laundering Overview: A Primer for Transaction Counsel or 'Am I Really Supposed to Know This?'" Association of Commercial Finance Attorneys, Inc. (January 2013) and American Bar Association Business Law Section Spring Meeting, Loan Documentation Subcommittee (April 2013). Moderator and Speaker: Scott Lessne.
  • "Re-Structured Financing: Involuntary and Voluntary Changes to Deal Structures," American Bar Association Business Law Section CLE Panel, Business Law Section Spring Meeting (April 2010). Moderator and Speaker: Scott Lessne.
  • "Anatomy of a Workout," American Bar Association Business Law Section CLE Panel, ABA Annual Meeting and ABA Teleconference (August and October 2009). Moderator and Speaker: Scott Lessne.
  • "Financing In-Transit Inventory," American Bar Association Business Law Section Spring Meeting, Loan Documentation Subcommittee (April 2009). Moderator and Speaker: Scott Lessne.
  • "Insurance: Make it a Post-Closing Item?" American Bar Association Business Law Section Spring Meeting, Loan Documentation Subcommittee (April 2008). Moderator and Speaker: Scott Lessne.
  • "Multi-Lender Workouts," Association of Commercial Finance Attorneys, Inc. (March 2002). Speaker: Scott Lessne.
  • "Advanced Forum on Commercial Loan Workouts," American Conference Institute (2002-2004). Co-Moderator and Speaker: Scott Lessne.
  • "Asset Based Lending – Receivables Finance, Inventory Finance, Bankruptcy and Enforcement Issues," Practicing Law Institute (1998-2012). Speaker: Scott Lessne.
  • "Commercial Loan Documentation," Executive Enterprise Institute (1998-2002). Speaker: Scott Lessne.
  • "Default and the Enforcement of Security Interests Under Revised Article 9," American Bar Association Videoconference Speaker: Scott Lessne.
  • "Dealing with the FDIC," Association of Commercial Finance Attorneys, Inc. Moderator and Speaker: Scott Lessne.
  • "Limited Liability Company Legislation and its Impact on Lenders," Association of Commercial Finance Attorneys, Inc. Speaker: Scott Lessne.


Publications

  • "The Workout as an Exercise in Creative Problem Solving," 56 The Practical Lawyer 25 (February 2010). Author: Scott Lessne.
  • "Maximizing Recovery of Distressed Debt," 22 Commercial Lending Review 21 (Jul. - Aug. 2007). Author: Scott Lessne.
  • "Preparation: The Key to Enhancing Distressed Debt Recovery Opportunities," 22 Commercial Lending Review 21 (Jan. - Feb. 2007). Author: Scott Lessne.


Client Alerts & Newsletters



Firm News & Announcements

Oct.17.2014 Deal Note: Crowell & Moring Client Signature Holdings to Acquire World’s Largest Independent Aluminum Recycler
Apr.03.2014 Deal Note: Crowell & Moring Represents Client Judith Ripka in Sale of Brand Name and IP
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