Skip to main content

Asset Based Financing in Today's Economy 2010


Speaker(s): Christine Gould Hamm, Edward M. De Sear, Edwin E. Smith, Marsha E. Simms, Scott A. Lessne
Recorded on: Mar. 31, 2010
PLI Program #: 22669

Edwin E. Smith is a partner in the New York City and Boston offices of Morgan, Lewis & Bockius LLP.  He concentrates his practice in general commercial and insolvency law.  He has been a member of the teaching faculty at the Morin Center for Banking Law Studies at Boston University Law School, where he has taught secured transactions and transnational lending and trade finance.  He has also served as a lecturer on secured transactions at Northeastern University Law School of Law, Harvard Law School and Suffolk Law School.  As a Uniform Law Commissioner for the Commonwealth of Massachusetts, he has served as a member of the drafting committees for the 1995 revisions of Article 5 (letters of credit) and the 1999 revisions of Article 9 (secured transactions) of the Uniform Commercial Code and as the chair of the drafting committees that formulated the 2002 amendments to Articles 3 (negotiable instruments) and 4 (bank deposits and collections) of the Uniform Commercial Code, the 2010 amendments to Article 9 (secured transactions) of the Uniform Commercial Code,  the 2014 amendments to the Uniform Voidable Transactions Act (formerly the Uniform Fraudulent Transfer Act) and the 2018 Amendments to Articles 1, 3, 8 and 9 of the Uniform Commercial Code to address electronic mortgage notes secured by residential real property and registered in a federal registry.  He has also served on the drafting committees for the Uniform Certificate of Title Act (2005), the Uniform Assignment of Rents Act (2005), the Uniform Manufactured Housing Act (2012), the Uniform Limited Liability Company Protected Series Act (2017), the Uniform Regulation of Virtual-Currency Businesses Act (2017), and the Uniform Supplemental Commercial Law for the Uniform Regulation of Virtual-Currency Businesses Act (2018).  He is currently serving as the chair of the Permanent Editorial Board for the Uniform Commercial Code.  Mr. Smith is a past Chair of the Uniform Commercial Code Committee of the Business Law Section of the American Bar Association and a past member of the Council for the Business Law Section.  He also served as a U.S. delegate on the United Nations Convention on the Assignment of Receivables in International Trade and as a U.S. delegate to the United Nations Commission on International Trade Law (UNCITRAL) working group on creating a secured transactions guide for legislation in United Nations member countries.  He is a member of the American Law Institute, the National Bankruptcy Conference (for which he serves on the executive committee), the American College of Bankruptcy (for which he recently served as a member on the board of directors and as chair of the Policy Committee) and the International Insolvency Institute and is a past President of the American College of Commercial Finance Lawyers.  He is a graduate of Yale University and Harvard Law School.


Christine Gould Hamm is currently managing counsel at Wells Fargo Bank, N.A. Christine and her team of experienced lawyers and paralegals support the Wells Fargo Commercial Distribution Finance business. Christine was senior counsel for a GE Capital equipment finance business that Wells Fargo acquired in March 2016. Prior to joining the GE Capital business in August 2011, Christine was a partner in the Kansas City office of Husch Blackwell LLP and focused her practice in the Banking & Finance, Commercial Transactions, Aviation, Energy Industry, and Public Finance practice groups of the firm. Christine advised commercial financial institutions and corporate clients in various types of financial transactions, including asset-based, cash-flow, equipment, real estate, second-lien, club and syndicated loans and aircraft and equipment leases. In addition to assisting clients in structuring, negotiating and documenting financial transactions, Christine advised clients in workouts, restructurings and liquidations related to financial transactions and distressed loans. She also represented corporate clients in general financing, real estate, acquisition, disposition, investment, joint venture, development and other commercial transactions. 

Christine has a J.D. from the University of Notre Dame Law School, an M.B.A. from the Yale University School of Management, and a B.S. from Saint Mary College (now the University of Saint Mary).


Scott Lessne is a Senior Counsel in the Financial Services Group in Crowell & Moring’s Washington, D.C. office where is he the chair of firm’s Commercial Finance and Lending group. He is also a member of the firm’s Blockchain and Distributed Ledger Technology initiative which focuses on providing practical advice to financial institution and corporate clients on how these new technologies will impact their respective industries and how to implement these technologies in compliance with existing laws and regulations. 

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’s practice also includes structuring, negotiating and documenting new complex commercial loan origination transactions across multiple industries. 

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 of the finance company’s regulated bank subsidiary. Prior to his in-house experience, Scott was in private practice where he developed his expertise 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 and is currently a member of the Commercial Finance Committee’s Programs subcommittee.  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.