Uri A. Itkin and Drew I. Grossman Co-Author “Repo Borrowers May Be Able to Recover Covid-Related Margin Call Losses”
Kasowitz Benson Torres lawyers Uri A. Itkin and Drew I. Grossman have published an article titled “Repo Borrowers May Be Able to Recover Covid-Related Margin Call Losses” in Bloomberg Law. In the article, Messrs. Itkin and Grossman discuss the sudden increase in margin calls in the wake of COVID-driven market dislocations and the massive losses suffered by repo borrowers as a result of their lenders’ refusal to accept anything other than cash or cash-like securities in satisfaction of those calls. Messrs. Itkin and Grossman explain that lenders’ behavior may have violated the parties’ repo agreements and that borrowers may have recourse for their losses under the law.
Read the article in its entirety.
Uri A. Itkin is a partner at Kasowitz Benson Torres who represents hedge funds and private equity firms in litigation and potential disputes relating to their investments, including in asset-backed securities, structured products, and real estate. He has been recognized by Law360 as a Rising Star in the Asset Management category and by The Legal 500 as a Next Generation Lawyer. He has also been recognized by Benchmark Litigation in its 40 and Under Hot List and as a Rising Star by Legal Media Group: Expert Guides.
Drew I. Grossman is an associate at Kasowitz Benson Torres who represents clients in structured finance and complex financial products litigation.