< Directory Louisa Watt

Louisa Watt is a partner in the London office and a member of the Firm’s Executive Committee.

Ms. Watt specializes in the acquisition and sale of debt instruments, including bank loans, non-performing financial assets and trade claims within Europe, the United States and Asia.  She regularly represents large financial institutions, funds, broker dealers and other investors on all aspects of distressed and par lending transactions including the review and analysis of loan documentation, claims due diligence and analysis, transferability restrictions, security packages, and the preparation of primary and secondary trading documentation under the LMA and LSTA regimes. Ms. Watt has extensive experience in advising clients on cross-border issues and bespoke documentation for European, Icelandic and Hong Kong trading transactions.  

Recent significant engagements include:

• Representing creditors and the secondary market for trading claims of MF Global, including MF Global UK Limited due diligence requirements and UK insolvency matters under the Special Administration regime;
• Representing creditors and the secondary market for trading claims of Lehman Brothers, including Lehman Brothers International (Europe) and Lehman Brothers Bankhaus A.G.;
• Representing creditors of the insolvent Icelandic banks, including Glitnir Bank hf., Kaupthing Bank hf. and Landsbanki hf.;
• Representing lenders and creditors of Arcapita Bank B.S.C.;
• Regularly advises U.S. and European secondary market participants in relation to loans made to Australian, French, English, German, Greek, Irish, Italian, Scandinavian, Spanish or Swiss borrowers;
• Advising a major investment bank on the development and creation of its bespoke LMA trading documentation, including collateral documentation and guarantees.

Ms. Watt is currently an active participant in the Loan Market Association. She serves on an LMA trading documentation committee which continually reviews and updates the market standard documentation for par and distressed debt transactions as well as an LMA confidentiality committee which advises on issues of confidentiality affecting the loan market.

News

• Louisa Watt quoted in The Banker article "Waiting for the Thaw"
• Louisa Watt quoted in the International Financing Review article "Europe edges towards claims market"
• Louisa Watt and Roxanne Yanofsky mentioned in the Creditflux article "New secondary loan standards are a big change, says law firm"

Publications

• “Paying it Forward: Lehman’s Impact on MF Global” by Louisa Watt, Sara Cullen and Matthew Hughes published by Law360
• "Paying it Forward: Lehman's Impact on MF Global" by Louisa Watt, Matthew Hughes and Sara Cullen
• "Debt Trading in Distressed Europe" by RK&O Debt and Claims Trading Practice Group
• "A Claims Market Emerges in Iceland" by Jon Kibbe, Louisa Watt, Jennifer Grady and Kenneth Werner
• "A New LMA Approach to Trading European Loans" by Louisa Watt
• "LMA Sub-Participation Agreements and Grantor Insolvency" by Carl Winkworth and Louisa Watt
• "Bear Stearns Bank plc v Forum Global Equity Ltd." by Louisa Watt
• "Distressed Debt - Here to stay" by Louisa Watt