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
  • Supreme Court of the United States
  • U.S. Court of Appeals for the Second Circuit
  • U.S. Court of Appeals for the Sixth Circuit
  • U.S. District Court for the District of Columbia
  • U.S. District Court for the District of Connecticut
  • U.S. District Court for the Eastern District of Michigan

Scott Lessne

Senior Counsel
slessne@crowell.com
+1.202.624.2597

Scott A. Lessne chairs the firm's Commercial Finance & Lending team. Scott's practice involves the representation of financial institutions and corporate clients in connection with the negotiation and documentation of commercial, asset-based, project-related, and real estate loan transactions, 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 has particular experience in the financial services, health care, energy, restaurant, and hospitality industries.

His prior experience includes tenure as the senior in-house lawyer at a major global bank where he was responsible for providing and managing legal services for the commercial and real estate loan workout division of the bank. Scott also has served as the general counsel for the health care 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 to senior bank management and the Board of Directors. He also served on the institution's Enterprise Risk and Governance and Operations Committees.

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

Scott was recently appointed to the Editorial Board of The Business Lawyer for 2019-2022. Published quarterly by the American Bar Association - Business Law section, The Business Lawyer is the premier business law journal in the country. He has also been appointed to the Western New England University School of Law Dean’s Advisory Board. 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 has co-chaired the ABA Commercial Finance Committee's Loan Documentation Subcommittee and now serves as a co-chair of the Committee's Programs, Meetings, and Communications Subcommittee. He has lectured on 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

Professional Activities and Memberships

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

  • Co-Chair, Programs, Meetings, and Communications Subcommittee
  • 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


Representative Matters

  • Representation of a senior secured bank lender in connection with an $80 million asset-based revolving loan, term loan and letter of credit facility to an agricultural cooperative.
  • Representation of a senior secured bank lender in connection with a $35 million asset-based loan to a developer of educational curriculum materials.
  • Representation of a senior secured bank lender in connection with a $15 million revolving loan to a national fast casual restaurant chain.
  • Representation of a senior secured private equity lender in connection with the asset-based working capital and term loan acquisition financing of a community based mental health system.
  • Representation of a special servicer in connection with receivership proceedings and the resolution of a distressed $40 million CMBS loan secured by a hospitality property.
  • Representation of a special servicer in connection with the resolution of a distressed $15 million CMBS loan secured by a commercial office building.
  • Representation of a special servicer in connection with receivership proceedings and the resolution of a distressed $76 million CMBS loan secured by a retail shopping and restaurant complex.
  • Representation of a specialty aircraft charter and leasing company in connection with a $50 million asset- based revolving loan, term loan and delayed draw term loan.
  • Representation of an acquirer of a global metals processing company in its aggregate $500 million combined ABL and high-yield bond financing.
  • Representation of an independent power developer in a secured $715 million refinancing and working capital facility in the term loan B market.
  • Representation of a global oil and gas exploration company in a $20 million senior secured working capital facility.
  • Representation of a specialty aircraft service provider in a combined $25 million senior secured revolving term loan and mortgage facility, and in a $5 million senior subordinated note purchase facility.
  • Representation of a global aerospace manufacturing company in connection with a $600 million revolving loan facility and a $100 million senior secured term loan.
  • 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.
  • Representation of investors in multiple fast casual restaurant ventures in connection with debt finance and debt restructures.

Representative matters while serving as in-house counsel include:

  • 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 health care company.
  • Creation of a state charted industrial loan bank and the acquisition of branches and deposits from a failing financial institution.
  • 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.


Insights

Speeches & Presentations

  • "Coronavirus Stabilization Act of 2020 – COVID-19 Stimulus Law Title IV: Federal Government Financial Assistance to Distressed Industries and Mid-sized Businesses – 2008 Redux?" Crowell & Moring Webinar (April 1, 2020). Presenters: Bryan Brewer, James G. Flood, Ilana Lubin, and Scott A. Lessne.
  • "The Big Picture: Top Ten Things You Need to Know About the COVID-19 Stimulus Law," Crowell & Moring Webinar (March 30, 2020). Presenters: James G. Flood, W. Scott Douglas, Paul J. Pollock, Scott A. Lessne, Amy Laderberg O'Sullivan, S. Starling Marshall, Thomas P. Gies, Jacinta Alves, and Jerrica Mathis.
  • "Distributed Ledger Technology and the UCC," ACCFL 2019 Fall Dinner & Advanced Seminar, Washington, D.C. (September 14, 2019). Presenters: Andrew J. Knight and Scott Lessne.
  • "Cross-Border Asset Based Lending: Perspectives on Practice and Legal Issues in Canada, England and the United States," ABA Business Law Section Annual Meeting 2019, Washington, D.C. (September 13, 2019). Panelists: Andrew J. Knight and Scott A. Lessne.
  • "Receivables Financing," PLI - Asset Based Financing Strategies 2019, New York, NY (February 12, 2019). Presenter: Scott Lessne.
  • "Antitrust Issues in Syndicated Loan Transactions," Loan Syndications & Trading Association Webinar, New York, NY (November 8, 2018). Speakers: Juan A. Arteaga, Olivier N. Antoine, Scott A. Lessne, and Daniel L. Zelenko.
  • "Demystifying the Crypto Lending Market: A Close Look at Digital Asset-Backed Lending Transactions," Association of Commercial Finance Attorneys CLE Program, New York, NY (October 9, 2018). Program Chair: Scott Lessne; Moderator: Jonathan Cardenas.
  • "Receivables Financing," PLI - Asset Based Financing Strategies 2017, New York, NY (February 6, 2017). Presenter: Scott Lessne.
  • "Blockchain, Distributed Ledgers and Smart Contracts: An Opportunity For the Commercial Finance Industry?" ACFA, New York, NY (January 25, 2017). Presenters: Scott Lessne and Jenny E. Cieplak.
  • "Asset-Based Lending: Navigating Borrowing Base, Article 9 Collateral Issues, and Key Loan Documentation Provisions," Strafford Webinars (January 12, 2017). Panelists: Scott Lessne and Jenny E. Cieplak.
  • "Asset-Based Lending: Navigating Borrowing Base, Article 9 Collateral Issues, and Key Loan Documentation Provisions," Webinar (January 12, 2017). Presenters: Scott Lessne and Jenny E. Cieplak.
  • "Industry in Turm-Oil: An Exploration of Financing, Workout, and Bankruptcy Issues Unique to the Oil & Gas Industry," ABA 2016 Business Law Section Annual Meeting, Boston, MA (September 9, 2016). Presenters: Scott Lessne and Jon Katchen.
  • "Commercial Finance for In-House Counsel and Young Lawyers - The Basics and Beyond," The Association of Commercial Finance Attorneys, New York, NY (March 2016). Presenters: Scott Lessne and Nicholas James.
  • "Asset Based Lending – Receivables Finance, Inventory Finance, Bankruptcy and Enforcement Issues," Practicing Law Institute (1998-2016). Speaker: Scott Lessne.
  • "Asset-Based Lending: Navigating Borrowing Base, Article 9 Collateral Issues, and Key Loan Documentation Provisions," Webinar (January 2016). Presenters: Scott Lessne and Jenny E. Cieplak.
  • "The Nuts, Bolts, and Widgets of Asset-Based Lending," American Bar Association Webinar (December 2014). Moderator: Scott Lessne.
  • "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 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.
  • "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


Client Alerts & Newsletters


Press Coverage


Firm News & Announcements

October 20, 2022 Crowell EC/VC Team Advises Astra in $10 Million Series A Financing and $30 Million Line of Credit
October 13, 2021 Legal 500 Recommends Crowell & Moring as Top UK Law Firm for Asset-Based Lending
February 10, 2021 DEAL NOTE: Crowell & Moring Represents Kountable in Series A-1 Financing Lead by Lateral Capital
October 10, 2019 Forbes Names Crowell & Moring to List of America's Top Corporate Law Firms
June 27, 2018 Crowell & Moring Awarded The Deal’s 'Most Innovative Deal of the Year' and the Association for Corporate Growth and the M&A Advisor’s 'Deal of the Year'
November 28, 2017 DEAL NOTE: Crowell & Moring Represents Novume Solutions in Acquisition of NeoSystems
October 26, 2017 DEAL NOTE: Crowell & Moring Represents Novume Solutions in Acquisition of Global Technical Services and Global Contract Professionals
September 20, 2017 DEAL NOTE: Crowell & Moring Represents KeyStone Solutions Inc. in Merger with Brekford Traffic Safety Inc.
May 23, 2017 DEAL NOTE: Crowell & Moring Advises R3 in Largest Ever Investment in Distributed Ledger Technology
April 4, 2017 DEAL NOTE: Crowell & Moring Advises GigPeak in its Acquisition By Integrated Device Technology, Inc.
April 5, 2016 Deal Note: Crowell & Moring Represents GigOptix, Inc. in Acquisition of Magnum Semiconductor, Inc.
October 17, 2014 Deal Note: Crowell & Moring Client Signature Holdings to Acquire World’s Largest Independent Aluminum Recycler
April 3, 2014 Deal Note: Crowell & Moring Represents Client Judith Ripka in Sale of Brand Name and IP