Practice Areas & Industries: Hiscock & Barclay, LLP

Practice/Industry Group Overview

Hiscock & Barclay is viewed as an innovator in banking development, public finance, and real estate. Our extensive banking experience includes bank holding company formation, compliance with securities regulation, the distinctive development of in-bank securities brokerage operations and the unique formation of de novo banking institutions. Our national reputation extends to our superior handling of intrastate and interstate banking mergers and acquisitions, holding company formation, corporate governance, retention and protection of directors and key management personnel, transactions between bank and non-bank affiliates, and interstate expansion. Because of our reputation and experience, we are regularly called upon to provide advice in the structuring and documentation of complex commercial lending transactions, commercial and consumer real estate loans, secured transactions, electronic banking and financial institution data processing systems. When loans are in default, we skillfully pursue workouts and innovatively restructure problem loans and foreclosures. Established relationships with the state and federal regulatory agencies that govern financial institutions enhance our efforts.

Services Available

We provide financial analysis, legal strategy and documents to create individual projects and entire development programs. We have demonstrated our valued combination of skills when serving clients in a wide variety of financings as bond counsel, underwriter's counsel, agency counsel, letter of credit bank counsel, counsel for profit and not-for-profit conduit buyers, and trustee's counsel. Our creative advice is requested by large and small issuers including state and local agencies; regional authorities; counties and municipalities; school districts and colleges; special units of local government; housing, dormitory, health care and economic development authorities; the New York State Energy Research & Development Agency; and closely-held and publicly-traded corporations. We represent them in the full spectrum of public finance transactions including preparation of official statements, notices, and other disclosure documents, obtaining credit enhancement, bond insurance and bond ratings, validations, verification of bids and preparation of all other financings documents.

Hiscock & Barclay's extensive experience and strong reputation in the real estate field has earned us the opportunity to represent a wide range of clients as we address the spectrum of New York State real estate matters. National banking institutions, large regional corporations, municipalities, condominium and homeowners associations, real estate developers, shopping centers, office parks, resort hotels, office buildings, mining interests, and local homeowners, among others, engage our services. Clients have come to expect Hiscock & Barclay's skilled negotiation and drafting of all the complex documentation that typically accompanies the acquisition, financing, development, sale and leasing of real property interests. Due to our extraordinary experience and proficiency in title examination and title insurance claims matters, our clients also enjoy litigation success whenever we prosecute and defend title disputes.

Commercial and residential mortgage loans involve complex guarantees and loans by federal, state and county agencies, as well as negotiation of various agreements. During the past 25 years, Hiscock & Barclay has closed literally thousands of commercial and residential mortgage loans in New York. This is because we have the specific knowledge and experience necessary for unparalleled representation of lenders and borrowers in today's complex commercial real estate transactions, including loan syndication, participation and real estate investment trusts. Through our long-standing relationship with commercial lenders, we have also earned prominence in the field of mortgage foreclosures and asset recovery.

Financial Institutions and Lending

The attorneys in the Financial Institutions & Lending Practice Area strongly emphasizes the impact of state and federal laws and regulations on financial institutions, including thrift institutions, banks and bank holding companies. Hiscock & Barclay has developed a national reputation for expertise in matters relating to bank mergers and acquisitions, holding company formation, corporate governance, transactions between bank and non-bank affiliates, and interstate expansion. We have also provided counsel to financial institutions of all sizes in connection with retaining and protecting their directors and key management personnel. Members of the Financial Institutions & Lending Practice Area are active as officers and members of many State and American Bar Association committees on banking and commercial law.

The practice is proud to be recognized as an innovator in banking development, including the establishment of a non-banking trust company as an independent unit of a holding company, the development of in-bank securities brokerage operations and the formation of de novo banking institutions. The practice has participated in a variety of intrastate and interstate banking mergers and acquisitions. In addition, the practice is regularly called upon to provide advice in the structuring and documentation of complex commercial lending transactions. In this regard, its national banking practice enables the practice to utilize its innovative, state-of-the-art loan documentation for even its smallest banking clients to assure the timely delivery of services.

Public Finance

For well over a decade, providing bond counsel services in connection with the issuance of tax-exempt bonds and notes by counties, cities, villages, towns, school districts, public authorities and other governmental issuers has been a major part of the firm's practice. Throughout this period, the firm has been listed in The Bond Buyer's Municipal Marketplace directory of municipal finance attorneys (the "Red Book") and, therefore, is accorded the status of "Nationally Recognized Bond Counsel".

Since 1991, Hiscock & Barclay has been one of several pre-qualified bond counsel firms to the Dormitory Authority of the State of New York, and the firm remains an active bond counsel for the Dormitory Authority. Hiscock & Barclay has been one of several pre-qualified bond counsel to the New York State Housing Finance Agency since 1994, and remains active with the Housing Finance Agency as bond counsel.

At the local level, the firm is bond counsel to counties, cities, villages, towns and school districts for their general obligation borrowings. The firm also regularly serves as bond counsel in connection with the issuance of revenue bonds by industrial development agencies, housing authorities and other local issuers throughout New York State.

Hiscock & Barclay maintains an active federal tax practice in the tax-exempt finance area. In addition to reviewing financing transactions for compliance with tax law, our tax attorneys actively participate in the development of new financing structures and programs designed to meet the complex requirements imposed by federal tax law. Our tax attorneys within the Public Finance Practice Area also monitor the development and progress of federal tax legislation and regulations, prepare notices and analyses of current developments for our clients and confer, when appropriate, with staff of the Treasury Department and the Internal Revenue Service with respect to such legislation and regulations.

Real Estate

Hiscock & Barclay maintains an active and established real estate practice. Attorneys in our Real Estate Practice Area handle a variety of real property matters for clients ranging from large regional corporations and banking institutions to local homebuyers. The practice's attorneys manage their practice through a wide-area computer network enhancing communication and efficiency. The advanced technology streamlines the flow of documentation and allows for the immediate response to client needs.

The Real Estate Practice Area has developed the expertise necessary for representation of lenders and borrowers in today's complex commercial real estate transactions, including loan syndication, participation and real estate investment trusts. Our reputation in the commercial real estate arena, acquired through representation of commercial lenders, condominium and homeowners associations, developers and purchasers and sellers, is a significant source of pride for the Firm. Through its long-standing relationship with commercial lenders, the practice has also earned prominence in the field of mortgage foreclosures and asset recovery.

The Real Estate Practice Area is well respected for the drafting and negotiation of the often-complex documentation accompanying the acquisition, financing, development, and sale and leasing of real property interests. Furthermore, our experience and proficiency in title examination and title insurance claims matters has gained us recognition in prosecuting and defending title disputes.

We are also active in local governmental land use and zoning matters in connection with the Firm's governmental service practice, and further supports the Firm's financial services, business services and trusts and estates departments allowing Hiscock & Barclay to provide a wide spectrum of services for Firm clients.