• Print
  • Email
  • PDF

Walter B. Ferst

Partner
T 215-751-2370
    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), health care and insurance law. In the financing arena, he represents lenders and borrowers in both extension of credit and in the resolution of failed credits, financing of health care receivables in securitized transactions 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. In addition, he represents health care providers in a variety of transactional matters.

    Mr. Ferst is resident in the Firm's Philadelphia office.

    AREAS OF EXPERIENCE

    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 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, extension of credit and credit guaranties 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 numbers of years one of the first workers’ compensation trusts organized under Pennsylvania law for like-kind employers.

    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