As a former member of the Firm’s Executive Committee and past chair of the Firm’s Business Services Department, Mr. Ferst concentrates his practice in commercial and financing matters including public finance, representation of nonprofits (esp., private foundations), and insurance law. In the financing arena, he represents lenders and borrowers in both extension of credit and in the resolution of failed credits, and mezzanine lending. Mr. Ferst also has a substantial nonprofit practice including extensive representation of exempt organizations in financing and other transactional matters, and represents clients in the business of insurance as well as matters relating to claims against insolvent insurance carriers.
Mr. Ferst is resident in the Firm’s Philadelphia office.
News & Publications
- Schnader Recognized with International Financial Law Review Award
- Partners Richard Barkasy and Christine Carty Named to Schnader’s Executive Committee
- Consider a Private Foundation to Fulfill Your Philanthropic Goals
- Protecting Yourself as a Secured Creditor – Proposed Amendments to Article 9 of the Uniform Commercial Code
- Schnader Lawyers Secure Financing for Harlem Arts and Culture Center
- Schnader Attorneys Assist Area Big Brother Big Sister Branches with Successful Merger
- Schnader Attorneys Feted as Super Lawyers
Education
- Emory University School of Law, J.D., 1975
- University of Pennsylvania, B.A., 1972
Bar Admissions
- Pennsylvania, 1975
Professional Affiliations
- American Bar Association, Member
- Pennsylvania Bar Association, Member
- Philadelphia Bar Association, Member
Other Distinctions
- Rated AV® Preeminent by Martindale-Hubbell®
- Listed in The Bond Buyer’s Municipal Marketplace (“The Red Book”)
- Noted as a “Pennsylvania Super Lawyer” for banking and finance, 2005
Representative Matters
Financial Services
- A substantial portion of Mr. Ferst’s practice involves the representation of commercial lenders, both bank and non-bank, primarily in connection with secured transactions.
- He routinely represents lenders in the extension of credit facilities involving asset-based loans, syndicated credits, structured financed and credit enhancements for municipal financing.
- Although the industries in which these lenders extend credit are varied, Mr. Ferst has considerable experience in the extension of credit facilities to the financial services industry, exempt organizations, student housing and to health care providers.
- In addition, his representation of lenders includes advice and counsel regarding non-performing loans in forbearance or other workout settings
Exempt Organizations
- Mr. Ferst has extensive experience in the representation of nonprofits, particularly in the area of finance, including public finance and credit enhancement of public financed transactions.
- He routinely represents a substantial nationally recognized private foundation in matters relating to nonprofit and for-profit joint business ventures, new markets tax credit financing, an extension of credit and credit guarantees in connection with mission-related programs, Program Related Investments, and corporate governance issues. By way of illustration, he recently assisted the foundation in procuring a secured line of credit in the amount of $160 million and the facilitation of TIF financing in the amount of $85 million, the proceeds of which benefit programs supported by the foundation.
- He also has extensive experience in structuring privatized student housing projects and related matters and recently closed a series of transactions involving public financing in excess of $250 million.
Insurance
- Mr. Ferst has substantial experience representing claimants in insurance insolvencies including, most recently, the representation of insurers, reinsurers, servicers, policyholders and other claimants in each of the Reliance Insurance and Legion Insurance insolvencies. From time to time, Mr. Ferst has been engaged as special counsel to the Pennsylvania Department of Insurance regarding insurance insolvency matters.
- He represents a number of clients in matters relating to insurance, including insurers, insureds, self-insureds, reinsurance and insurance pools.
- He helped to establish and has represented for a number of years one of the first workers’ compensation trusts organized under Pennsylvania law for like-kind employers.
