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Paul B. Haskel

Partner
Partner
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VCard
VCard

Areas of Focus

Overview

Paul B. Haskel is a partner in the New York office of Crowell & Moring and co-chair of the firm's Financial Services Group. His practice focuses on the fields of alternative investment and opportunistic credit, including the secondary market for distressed and other high-yield debt and claims. He represents investment funds, investment banks, and other financial institutions in connection with the purchase and sale of various U.S. and international assets, including domestic and foreign bank loans, high-yield securities, insurance subrogation claims, tax claims, and claims against bankruptcy estates, litigation trusts, and similar liquidating vehicles. He also advises clients on regulatory compliance issues relevant to financial institutions investing in bank loans and claims, including issues arising under U.S. securities law and state common law. Paul is an active member of The Loan Syndications and Trading Association Inc. (LSTA) and sits on various LSTA committees. He is a frequent speaker on topics relating to secondary loan market transactions.

Paul is also a well-regarded advisor in the growing area of litigation finance. He regularly provides advice to litigation funders, private equity firms, multi-strategy hedge funds, and recipients of litigation financing in connection with funding transactions, including claims monetization and the provision of non-recourse capital to both plaintiffs and law firms. His work involves the diligence, structuring, and papering of these transactions and includes advice regarding the management of credit risk, tax efficiency, state common law issues such as champerty and usury, and legal ethics. He is a frequent speaker and contributor on litigation finance-related topics and has been featured in Litigation Finance Journal, ValueWalk, and The American Lawyer.

Prior to joining the firm, he was a partner with, and member of the Executive Committee of, Kibbe & Orbe LLP.

Career & Education

    • Columbia Law School, J.D., 1988
    • Cornell University, B.A., 1985
    • Columbia Law School, J.D., 1988
    • Cornell University, B.A., 1985

    • New York
    • U.S. District Court for the Southern District of New York
    • New York
    • U.S. District Court for the Southern District of New York

  • Professional Activities and Memberships

    • Committee Member, The Loan Syndications and Trading Association

    Professional Activities and Memberships

    • Committee Member, The Loan Syndications and Trading Association

Paul's Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

In a previous client alert on a recent Civil Justice Council (“CJC”) report on litigation funding in England and Wales we discussed the issue of whether payment waterfalls providing funders with payment priority are compliant with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), the issue being a matter to be heard on appeal in June 2025. Funders will be pleased to hear that the answer is “yes”. The Court of Appeal has held that the DBA Regulations focuses on whether a funding agreement determines the amount of a funder’s fees by reference to the damages awarded to the successful litigant. The fact that a funder may receive its fees from the proceeds is not enough in itself for the arrangement to fall under the DBA Regulations....

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Representative Matters

  • Represented a major U.S. investment bank in connection with its sale of several multibillion-dollar portfolios of syndicated revolving loans to foreign investors pursuant to “true sale” participation agreements.
  • Represented a major multi-strategy hedge fund in connection with providing non-recourse litigation financing to several contingency law firms representing municipal agencies victimized by defendants in the ongoing Ohio opioid MDL.
  • Represented multiple private equity and hedge funds in their diligence and acquisition of PG&E Corp. insurance subrogation claims.
  • Advised a private equity firm in connection with several “loan-to-own” transactions focused on distressed businesses, including a national restaurant chain and a global hospitality provider.
  • Represented a hedge fund in connection with providing a non-recourse litigation financing facility in excess of $30 million to a major Wall Street law firm to finance a large portfolio of environmental remediation and damages cases against various U.S. municipalities.
  • Represented a private equity fund in connection with a joint venture with a claims broker to acquire and manage Visa/Mastercard portfolio in antitrust class action claims.

Paul's Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

In a previous client alert on a recent Civil Justice Council (“CJC”) report on litigation funding in England and Wales we discussed the issue of whether payment waterfalls providing funders with payment priority are compliant with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), the issue being a matter to be heard on appeal in June 2025. Funders will be pleased to hear that the answer is “yes”. The Court of Appeal has held that the DBA Regulations focuses on whether a funding agreement determines the amount of a funder’s fees by reference to the damages awarded to the successful litigant. The fact that a funder may receive its fees from the proceeds is not enough in itself for the arrangement to fall under the DBA Regulations....

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Recognition

  • Chambers Litigation Support: Litigation Finance Deal Counsel, 2025

Paul's Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

In a previous client alert on a recent Civil Justice Council (“CJC”) report on litigation funding in England and Wales we discussed the issue of whether payment waterfalls providing funders with payment priority are compliant with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), the issue being a matter to be heard on appeal in June 2025. Funders will be pleased to hear that the answer is “yes”. The Court of Appeal has held that the DBA Regulations focuses on whether a funding agreement determines the amount of a funder’s fees by reference to the damages awarded to the successful litigant. The fact that a funder may receive its fees from the proceeds is not enough in itself for the arrangement to fall under the DBA Regulations....

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Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

Firm News | 3 min read | 06.10.25

Crowell & Moring Lawyers Author “An Overview of Litigation Funding” for ICLG

Client Alert | 8 min read | 06.06.25

Litigation Funding Reforms: Clarity for UK Funders and Litigants Post-PACCAR

Publication | 06.04.25

An Overview Of Litigation Funding

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Practices

Paul's Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

In a previous client alert on a recent Civil Justice Council (“CJC”) report on litigation funding in England and Wales we discussed the issue of whether payment waterfalls providing funders with payment priority are compliant with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), the issue being a matter to be heard on appeal in June 2025. Funders will be pleased to hear that the answer is “yes”. The Court of Appeal has held that the DBA Regulations focuses on whether a funding agreement determines the amount of a funder’s fees by reference to the damages awarded to the successful litigant. The fact that a funder may receive its fees from the proceeds is not enough in itself for the arrangement to fall under the DBA Regulations....

View All Insights