DLA Piper announced today that Tom Rice has joined the firm’s Corporate practice as a partner in New York and chair of the firm’s newly formed Asset Recovery and Workouts group.
Rice’s practice focuses on the corporate, finance, tax and workout aspects of complex domestic, cross-border, leveraged and project financing and fund transactions. He represents domestic and international banks, funds, financial sponsors, other financial institutions and developers in the origination and workout of syndicated, leveraged, LBO, repurchase and project finance transactions; restructurings; structured finance and derivatives deals; distressed portfolio sales; and other corporate finance matters.
In the last financial crisis, Rice recovered and worked out more than US$30 billion in financial assets. He was also the lead attorney for the syndicate of financial institutions in Calyon New York Branch v. American Home Mortgage Corp., a case of first impression that upheld the Bankruptcy Code safe harbor for mortgage repurchase agreements and shaped the leveraged mortgage repo finance market for the last decade.
His experience also covers a broad range of industries, including conventional, solar and wind power generation and transmission; aviation and related transportation; construction; commercial, residential mortgage and solar securitizations; commercial real estate and hospitality loans; data centers; distressed real estate portfolios; and integrated telecommunications companies.
“Tom’s vast experience working with a broad range of clients in matters of great complexity will be an important strategic complement to our corporate, finance and restructuring practices,” said Joe Alexander, global co-chair of DLA Piper’s Corporate and Private Equity practices. “In particular, his deep experience representing financial institutions on significant transactions from cradle-to-grave will add important, nuanced depth to our capabilities that will be of great benefit to our clients across many sectors.”
“We look very forward to working closely with Tom as he advises his clients on recovery, workout and restructuring matters. His extensive experience in representing clients, especially large, multi-national financial institutions, will complement and enhance our global Restructuring offering. I am very excited about the opportunity,” said Tom Califano, global co-chair and US chair of the firm’s Restructuring practice.
“I’m thrilled to join DLA Piper and draw upon the firm’s global platform of knowledge, experience and leading practitioners for the benefit of our clients,” said Rice. “I’m also tremendously excited to work again with Joe, with whom I greatly enjoyed collaborating in past roles.”
Rice previously served as the head of the New York capital finance and financial institutions group at Hunton and Williams. He received his J.D. from Georgetown University Law Center and his A.B. from Georgetown University.