Ivan Loncar

Phone212 504 6339

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Experience & Credentials

Practice Areas

  • Derivatives & Structured Products
  • Distressed Municipal Finance
  • Municipal Derivatives
  • Structured Products
  • Municipal Securitization
  • OTC Derivatives
  • Securitization & Asset Based Finance
Law SchoolUniversity of Belgrade School of Law, LL.B., 1995; Columbia Law School, LL.M., 1997
Admitted2000, New York

Ivan Loncar's practice focuses on derivatives, structured finance and municipal finance (including distressed municipal finance).

Ivan represents dealers, banks, and other financial institutions in connection with (i) unfunded derivatives involving a wide range of products (e.g., interest rate swaps, credit default swaps, total return swaps, commodity swaps, etc.) and counterparty types and (ii) funded derivative products (e.g., credit linked notes and other structured notes, market access trades, etc.). He also has extensive experience with the structuring of derivatives product companies and the repackaging of swap receivables, funding transactions collateralized by swap receivables and other structured transactions that combine securitization techniques and derivative products.

Ivan also represents creditors in connection with tax-exempt and taxable financings by U.S. state and local governments and non-for-profit corporations, including the restructuring of transactions with distressed municipal entities. He has extensive experience with credit facilities, liquidity facilities, financial guarantee insurance policies, interest rate swaps, forward delivery agreements and other reinvestment contracts relating to such financings. He also has extensive experience with secondary market municipal financial products, including municipal tender option bond programs and other securitizations of municipal debt.

Chambers USA recently ranked Ivan in the Derivatives arena noting that clients praised him as “tremendous” and incredibly thoughtful and knowledgeable. US Legal 500 has also commended Ivan as “simply outstanding” in the municipal derivatives field and as “expert in fixed income and credit derivatives and structured financial products.” IFLR 1000 has recognized Ivan as a “leading lawyer” in derivatives and structured finance. US Legal 500 has also recognized Ivan in the field of Municipal Bankruptcy.

Ivan received his LL.B. from University of Belgrade School of Law and his LL.M. from Columbia University School of Law. He is admitted to practice in the State of New York.


Notable transactions and advisory matters in which Ivan has been involved include:

Derivatives and Structured Finance

•Representing a major dealer in connection with (a) the structuring, negotiation and documentation of a series of complex derivative transactions aggregating over $107 billion in notional amount used to hedge interest rate, prepayment and credit risk associated with the automobile-lending unit financing undertaken as part of the acquisition of an 80% stake in the Chrysler Group by an affiliate of private equity firm Cerberus Capital Management LP, and (b) the subsequent restructuring of those transactions as a result of the recent bankruptcy of Chrysler LLC.
•Representing a major bank as an intermediary with respect to a significant portion of an insurance company's portfolio of derivative transactions with CDOs in order to provide such insurance company with liquidity relief by replacing such insurance company in such transactions, whose ratings would have required it to overcollateralize such transactions.
•Advised a major financial institution in the structuring, negotiation and documentation of a complex set of derivative transactions having a notional amount in excess of $1 billion that allowed our client to step into in-the-money interest rate swaps with a distressed toll road financing entity on an almost risk-free basis and repackage the cash-flows thereunder, which were then passed through to a hedge fund investor whom otherwise would not have been able to access this risk/return. The financial guaranty insurance policy wrapping the in-the-money interest rate swaps were also synthetically commuted, providing the financial guaranty insurer with capital relief.
•Representation of dealer in connection with $1 billion merger-contingent interest rate swap in connection with $28 billion leveraged buy-out.

Municipal Finance

•Advising a monoline insurer in connection with the potential restructuring of several billion dollars of debt issued by the Commonwealth of Puerto Rico and its public agencies.
•Advising various creditors and interested parties in Jefferson County's chapter 9 case, including advising a sewer warrantholder in the negotiation of the County's plan of adjustment.
•Advising Detroit Public Schools in connection with the initial preparation for a Chapter 9 filing and pre-petition financing.
•Advising ISDA in connection with the development of template documentation for credit default swaps on U.S. states, municipalities and other local governments, including the 2012 U.S. Municipal Reference Entity Supplement to the 2003 ISDA Credit Derivatives Definitions and the related ISDA protocol.
•Representing the sponsor and dealer group that developed MCDX, the index for Credit Default Swaps on U.S. state and local governments, including the trading documentation for tranche MCDX.
•Representing Goldman Sachs in connection with the structuring and negotiation of (a) a basis swap agreement related to the issuance of approximately $1 billion of tax-exempt and taxable bonds to finance the construction of the new Yankee Stadium, and (b) a $198 million portion of such bonds that bear interest at a floating rate that is determined based on the Consumer Price Index and a floating-to-fixed interest rate swap agreement relating to such bonds.

News & Resources


News Releases

Cadwalader Named Among Leading Law Firms in 2016 Edition of IFLR 1000 Oct 15, 2015

Recent Press

Cadwalader Continues to Dominate Law-Firm Ranking Jul 25, 2014


Cadwalader Named Among Leading Law Firms in 2016 Edition of IFLR 1000 Oct 15, 2015


Clients & Friends Memos

TCEH Bankruptcy: SDNY Transfers Delaware Trust Company v. Wilmington Trust N.A. Intercreditor Dispute to Delaware Bankruptcy Court, Reaffirming Broad View of Bankruptcy Jurisdiction Aug 05, 2015


TCEH Bankruptcy: SDNY Transfers Delaware Trust Company v. Wilmington Trust N.A. Intercreditor Dispute to Delaware Bankruptcy Court, Reaffirming Broad View of Bankruptcy Jurisdiction Nov 05, 2015


Trade Alert

Trade Alert - May 2014, Issue 5 Jun 03, 2014


Documents by this lawyer on Martindale.com

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SDNY Transfers Delaware Trust Company v. Wilmington Trust N.A. Intercreditor Dispute to Delaware Bankruptcy Court, Reaffirming Broad View of Bankruptcy Jurisdiction
Thomas J. Curtin,Mark C. Ellenberg,Ellen Halstead,Howard R. Hawkins,Ivan Loncar, August 11, 2015
On July 23, 2015, in an action arising from the huge TCEH chapter 11 bankruptcy, Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York issued an opinion in Delaware Trust Company v. Wilmington Trust N.A.[1] denying plaintiff’s motion to remand the case back...

CFTC Issues No-Action Relief for Amended Legacy Swaps between SDs and SPVs
Douglas J. Donahue,Ivan Loncar,Paul J. Pantano,Nihal S. Patel, April 17, 2015
On March 31, 2015, the Division of Swap Dealer and Intermediary Oversight (the “Division”) of the Commodity Futures Trading Commission (the “CFTC”) issued no-action relief regarding compliance with certain of its swap regulations, including, but not limited to, business...
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Office Information

Ivan Loncar

New YorkNY 10281-0006


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