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Joseph Cioffi is the Chair of the Insolvency, Creditors’ Rights & Financial Products Practice Group at Davis & Gilbert. Mr. Cioffi employs a general counsel, client-centered approach to his practice made possible by a broad combination of business experience in finance and marketing functions and legal experience spanning corporate and litigation practices. The breadth of this experience has enabled him to advise clients during all aspects of the corporate or investment life cycle.

Mr. Cioffi has represented financial institutions and service businesses in the following areas:

  • Financings – Advising creditors in asset-based financings.
  • Insolvency Strategies – Advising on viable strategies for companies in financial distress, including out of court financings, restructurings, asset sales and bankruptcy.
  • Restructurings – Negotiating restructuring of debt and equity, including debt for equity swaps.
  • Creditors’ Rights/Bankruptcy – Advising creditors in transactions with distressed entities in and outside of bankruptcy; preventing and defending preferential transfer and fraudulent transfer claims, including claims related to derivative transactions; advising buyers regarding distressed acquisitions; advising investors with respect to wind-down of target operations.
  • Acquisitions – Developing and implementing acquisition strategy and holding company structure for roll-ups; representing sellers and buyers in asset sales.

Mr. Cioffi’s broad experience has made him particularly well-suited to advise clients in industries marked by rapid growth and decline, including the secondary mortgage market. Over the last 10 years he has counseled clients in matters ranging from acquisition strategies to defense of claims resulting from the financial crisis, including the following:

  • Defense of fraud-related claims by investors of residential mortgage backed securities (RMBS) against sellers and sponsors in securitizations.
  • Defense of repurchase (put-back) actions by trustees and investors against sellers and sponsors in RMBS deals.
  • Matters involving the operation of a residential mortgage origination businesses, including warehouse lending, secondary market trades, special employment concerns, regulatory and licensing issues, and claims and disputes arising out of such matters.
  • Enforcement of mortgage loan warehouse provider’s rights under repurchase agreements, and investor’s rights under bailment contracts, mortgage loan purchase agreements, custodial agreements and servicing contracts.
  • Sales and acquisitions of mortgage loan pools.
  • Initial structuring and closing of various financial asset investments as well as their restructuring and winding-down.
  • Determining strategies and appropriate legal structures to mitigate legal exposure and losses associated with financial asset ownership.

In addition, a unique aspect of Mr. Cioffi’s practice is his knowledge in the area of media liability. Mr. Cioffi has particular experience in understanding the legal relationships among advertising agencies, their clients and media vendors, and is regularly called upon to advise on matters involving the insolvency of one or more parties. Mr. Cioffi has represented advertising agencies in some of the largest bankruptcy proceedings affecting the advertising industry, including the automobile manufacturer bankruptcy proceedings, and is actively involved in some of the most important challenges facing agencies today in dealing with advertisers and media:

  • Sequential liability and agent/principal theories of liability.
  • Protective contractual provisions in contracts with advertisers, media buying companies, media aggregators and media vendors.
  • Enforcement by media and media buying companies where advertiser is insolvent.

SPEAKING ENGAGEMENTS

"Bankruptcy and Receivership," Texas Mortgage Bankers Association: Southern Secondary Market Conference, February 8-9, 2011

"Protecting Pocketbooks as Bankruptcies Rise," Association of National Advertisers, Advertising Law & Business Affairs Conference, March 10-11, 2009

PUBLICATIONS

Co-Author, "Oh, the Indemnity! Claims for Reimbursement May Follow RMBS Litigation Settlements," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2017

Author, "Yes, the President's Words Do Matter, Even for Student Loan Litigation," Asset Securitization, May 9, 2017

Co-Author, "Madden Creates More Uncertainty For Marketplace Lenders," Law360.com, March 23, 2017

Author, "Crisis in Student Loan Servicing is Building," American Banker, March 22, 2017

Co-Author, "Claims Against Navient Echo Problems with Subprime Mortgage Loan Servicers," D&G Insolvency, Creditors' Rights & Financial Products Alert, February 2017

Co-Author, "Recent Actions Against Navient May Expose Problems Contributing to the Student Loan Debt Crisis," D&G Insolvency, Creditors' Rights & Financial Products Alert, January 2017

Author, "A Whole Lot of Hurt in Auto Lending May Be Coming," American Banker, December 23, 2016

Co-Author, "Is Risk Retention in the Future of Marketplace Lending?" D&G Insolvency, Creditors' Rights & Financial Products Alert, December 2016

Co-Author, "Marketplace Lending Regulatory Landscape Begins to Take Shape with the OCC's Plans for a National Charter," D&G Insolvency, Creditors' Rights & Financial Products Alert, December 2016

Co-Author, "Spotlight Remains on Marketplace Lenders Post-Madden," Law360.com, July 13, 2016

Co-Author, "U.S. Supreme Court Leaves Marketplace Lenders Exposed to Further Claims Related to Loans They Issue and Securitize," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2016

Co-Author, "Challenges to Marketplace Lending Structures May Ultimately Impact Securitizations," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2016

Co-Author, "Proposed Amendments to the Bankruptcy Code Could Adversely Affect Student Loan Securitizations," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2016

Co-Author, "Recent Decisions Have Shed Light on General Jurisdiction, But Ambiguity Remains for Defendants That Are Members of Affiliated Groups," Pratt's Journal of Bankruptcy Law, April/May 2016

Co-Author, "Opportunities Exist for Purchasers in Chapter 11 Bankruptcies, but Risks Remain," D&G Insolvency, Creditors' Rights & Financial Products Alert, January 2016

Co-Author, "Regulations Targeting Auto Lending May Ultimately Increase Litigation Related To Securitizations," D&G Insolvency, Creditors' Rights & Financial Products Alert, January 2016

Co-Author, "Consumer Financial Protection Bureau Cracks Down on Deceptive Advertising and Abuses in the Mortgage Industry," D&G Insolvency & Financial
Institutions Alert
, March 2015

Co-Author, "Indemnity May Be a Viable Alternative to RMBS Repurchase Claims, But Unique Pitfalls Exist,"  Absolute Return, March 4, 2015

Co-Author, "Recent SDNY Decision Limiting Madoff Trustee’s Ability to Recover Foreign Transfers Comports with Ninth Circuit Decision Allowing Bankruptcy Trustee to Recover Foreign Property," D&G Insolvency Solutions & Creditor's Rights Alert, September 2014

Co-Author, "Subprime RMBS Repurchase Actions May Be Too Late," Financier Worldwide, April 1, 2014

Co-Author, "When Is It Too Late for Investors to Bring RMBS-Related Claims?" The Banking Law Journal, October, 2013

Co-Author, "Frequently Asked Questions by Landlords When a Commercial Tenant Files for Bankruptcy," D&G Insolvency Solutions & Creditor's Rights Alert, September 2013

Co-Author, "RMBS Put-Back Decision Regarding Timeliness is at Odds with Prevailing Case Law," D&G Litigation Alert, July 2013

Author, "Dealing With Advertisers & Vendors In Bankruptcy," D&G Insolvency & Bankruptcy Alert, February 3, 2009

Co-Author, “When Is A Repurchase Agreement Not A Repurchase Agreement? Testing The Limits Of Bankruptcy Protections Afforded Mortgage Loan Warehouse Providers,” The Metropolitan Corporate Counsel, March 2008

Author, “Protections for Vendors in a Customer’s Bankruptcy May Not Be as Expected,” The Metropolitan Corporate Counsel, June 2004

Author, “Roll-ups Don't Always Roll-out Smoothly or Well,” The National Law Journal, February, 2004

PRESS

Quoted, "US Consumer Debt Deters Big Banks From 1.2tn Car-Loan Market," Irish Times, May 29, 2017

Quoted, "US Banks Pull Back From $1.2tn Car Loans Market: Overstretched Consumers Raise Fears of Bubble in Echo of Subprime Mortgage Crisis," by Ben McLannahan, Financial Times, May 29, 2017

Quoted, "Subprime Auto Lenders Put On Notice Over Ties to Shady Dealers," American Banker, April 21, 2017

Quoted, "Rising Delinquencies the New Normal for Subprime Auto Lending," Blueshift Research, March 22, 2017

Quoted, American Banker, "Does Latest Surge in Past-Due Car Loans Mean Problem is Here to Stay?" March 7, 2017

Quoted, Structured Creditor Investor, "Heavy Burden: Student Loan Servicing Under the Spotlight," January 25, 2017

Quoted, ValueWalk, "Navient Lawsuit and Parallels Student Loans/Subprime Mortgage Crisis," January 21, 2017

Quoted, ValueWalk, "Trouble With Green Energy PACE Loans," by Mark Melin, January 19, 2017

Quoted, Banking Exchange, "Tick, Tick, Tick for DOJ. With Time Running Out, Feds Ramp Up Mortgage Litigation," January 7, 2017

Quoted, S&P Global Market Intelligence, "With Time Running Out, U.S. Government Ramps up Mortgage Litigation," by Zach Fox, December 29, 2016

Quoted, Lending Times, "Is Auto Lending Headed Down the Same Path as Mortgage Lending?" December 20, 2016

Quoted, Auto Finance News, "New ABS Rule Unlikely to Escalate Disparate Impact Cases, Lawyer Says," December 19, 2016

Quoted, Auto Finance News, "Credit Decline May Spur 'Big' Problems, Lawyer Says," by William Hoffman, December 14, 2016

Quoted, Auto Finance News, "Honor Finance Issues 'Risky' Deep Subprime Auto ABS, Lawyer Says," by William Hoffman, December 12, 2016

Quoted, International Financing Review, "Strong Interest for Honor's High-Risk Subprime Auto Debut - IFR News," by Joy Wiltermuth, December 2, 2016

Quoted, ValueWalk, "As Subprime Auto Loan Delinquencies Spike, Parallels And Differences With 2008 Housing Crisis Linger," by Mark Melin, December 2, 2016

Quoted, Law360.com, "Natixis Says Suit Over $400M in RMBS Losses is Too Late," August 23, 2016

Quoted, Structured Credit Investor, "Next Steps: Madden Ruling Created Landscape of Uncertainty," July 12, 2016

Quoted, Structured Credit Investor, "Madden Uncertainty to Continue," June 28, 2016

Quoted, AltFi, "Supreme Court Rejects Midland Appeal in Major Blow to Marketplace Lenders," June 28, 2016

Quoted, Crowdfund Insider, "Legal Experts Respond to SCOTUS Decision Not to Review Second Circuit Madden vs. Midland Decision," June 27, 2016

Quoted, Global Restructuring Review, "New York Court Dismisses Madoff Trustee's Fraud Claims Against Investment Funds," by Jack Barton, March 21, 2016

Quoted, Law360.com, "Natixis Says Securities Administrator Can't Bring RMBS Suit," by Stewart Bishop, August 26, 2014

Mentioned, Law360.com, "Morgan Stanley Can't Nix Fraud Claims Over $694M in RMBS," by Stewart Bishoip, June 10, 2014

Quoted, Adweek.com, "Agencies in Catch-22 Over Client Finances," by Andrew McMains and Noreen O’Leary, May 18, 2009

PROFESSIONAL MEMBERSHIPS/AFFILIATIONS

New York State Bar Association

BAR ADMISSIONS

New York
New Jersey
Texas
Massachusetts

EDUCATION

Rutgers University School of Law, J.D., 1995
New York University, M.B.A, 1990
Pace University, B.B.A., 1986


SPEAKING ENGAGEMENTS

"Bankruptcy and Receivership," Texas Mortgage Bankers Association: Southern Secondary Market Conference, February 8-9, 2011

"Protecting Pocketbooks as Bankruptcies Rise," Association of National Advertisers, Advertising Law & Business Affairs Conference, March 10-11, 2009

PUBLICATIONS

Co-Author, "Oh, the Indemnity! Claims for Reimbursement May Follow RMBS Litigation Settlements," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2017

Author, "Yes, the President's Words Do Matter, Even for Student Loan Litigation," Asset Securitization, May 9, 2017

Co-Author, "Madden Creates More Uncertainty For Marketplace Lenders," Law360.com, March 23, 2017

Author, "Crisis in Student Loan Servicing is Building," American Banker, March 22, 2017

Co-Author, "Claims Against Navient Echo Problems with Subprime Mortgage Loan Servicers," D&G Insolvency, Creditors' Rights & Financial Products Alert, February 2017

Co-Author, "Recent Actions Against Navient May Expose Problems Contributing to the Student Loan Debt Crisis," D&G Insolvency, Creditors' Rights & Financial Products Alert, January 2017

Author, "A Whole Lot of Hurt in Auto Lending May Be Coming," American Banker, December 23, 2016

Co-Author, "Is Risk Retention in the Future of Marketplace Lending?" D&G Insolvency, Creditors' Rights & Financial Products Alert, December 2016

Co-Author, "Marketplace Lending Regulatory Landscape Begins to Take Shape with the OCC's Plans for a National Charter," D&G Insolvency, Creditors' Rights & Financial Products Alert, December 2016

Co-Author, "Spotlight Remains on Marketplace Lenders Post-Madden," Law360.com, July 13, 2016

Co-Author, "U.S. Supreme Court Leaves Marketplace Lenders Exposed to Further Claims Related to Loans They Issue and Securitize," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2016

Co-Author, "Challenges to Marketplace Lending Structures May Ultimately Impact Securitizations," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2016

Co-Author, "Proposed Amendments to the Bankruptcy Code Could Adversely Affect Student Loan Securitizations," D&G Insolvency, Creditors' Rights & Financial Products Alert, June 2016

Co-Author, "Recent Decisions Have Shed Light on General Jurisdiction, But Ambiguity Remains for Defendants That Are Members of Affiliated Groups," Pratt's Journal of Bankruptcy Law, April/May 2016

Co-Author, "Opportunities Exist for Purchasers in Chapter 11 Bankruptcies, but Risks Remain," D&G Insolvency, Creditors' Rights & Financial Products Alert, January 2016

Co-Author, "Regulations Targeting Auto Lending May Ultimately Increase Litigation Related To Securitizations," D&G Insolvency, Creditors' Rights & Financial Products Alert, January 2016

Co-Author, "Consumer Financial Protection Bureau Cracks Down on Deceptive Advertising and Abuses in the Mortgage Industry," D&G Insolvency & Financial
Institutions Alert
, March 2015

Co-Author, "Indemnity May Be a Viable Alternative to RMBS Repurchase Claims, But Unique Pitfalls Exist,"  Absolute Return, March 4, 2015

Co-Author, "Recent SDNY Decision Limiting Madoff Trustee’s Ability to Recover Foreign Transfers Comports with Ninth Circuit Decision Allowing Bankruptcy Trustee to Recover Foreign Property," D&G Insolvency Solutions & Creditor's Rights Alert, September 2014

Co-Author, "Subprime RMBS Repurchase Actions May Be Too Late," Financier Worldwide, April 1, 2014

Co-Author, "When Is It Too Late for Investors to Bring RMBS-Related Claims?" The Banking Law Journal, October, 2013

Co-Author, "Frequently Asked Questions by Landlords When a Commercial Tenant Files for Bankruptcy," D&G Insolvency Solutions & Creditor's Rights Alert, September 2013

Co-Author, "RMBS Put-Back Decision Regarding Timeliness is at Odds with Prevailing Case Law," D&G Litigation Alert, July 2013

Author, "Dealing With Advertisers & Vendors In Bankruptcy," D&G Insolvency & Bankruptcy Alert, February 3, 2009

Co-Author, “When Is A Repurchase Agreement Not A Repurchase Agreement? Testing The Limits Of Bankruptcy Protections Afforded Mortgage Loan Warehouse Providers,” The Metropolitan Corporate Counsel, March 2008

Author, “Protections for Vendors in a Customer’s Bankruptcy May Not Be as Expected,” The Metropolitan Corporate Counsel, June 2004

Author, “Roll-ups Don't Always Roll-out Smoothly or Well,” The National Law Journal, February, 2004

PRESS

Quoted, "US Consumer Debt Deters Big Banks From 1.2tn Car-Loan Market," Irish Times, May 29, 2017

Quoted, "US Banks Pull Back From $1.2tn Car Loans Market: Overstretched Consumers Raise Fears of Bubble in Echo of Subprime Mortgage Crisis," by Ben McLannahan, Financial Times, May 29, 2017

Quoted, "Subprime Auto Lenders Put On Notice Over Ties to Shady Dealers," American Banker, April 21, 2017

Quoted, "Rising Delinquencies the New Normal for Subprime Auto Lending," Blueshift Research, March 22, 2017

Quoted, American Banker, "Does Latest Surge in Past-Due Car Loans Mean Problem is Here to Stay?" March 7, 2017

Quoted, Structured Creditor Investor, "Heavy Burden: Student Loan Servicing Under the Spotlight," January 25, 2017

Quoted, ValueWalk, "Navient Lawsuit and Parallels Student Loans/Subprime Mortgage Crisis," January 21, 2017

Quoted, ValueWalk, "Trouble With Green Energy PACE Loans," by Mark Melin, January 19, 2017

Quoted, Banking Exchange, "Tick, Tick, Tick for DOJ. With Time Running Out, Feds Ramp Up Mortgage Litigation," January 7, 2017

Quoted, S&P Global Market Intelligence, "With Time Running Out, U.S. Government Ramps up Mortgage Litigation," by Zach Fox, December 29, 2016

Quoted, Lending Times, "Is Auto Lending Headed Down the Same Path as Mortgage Lending?" December 20, 2016

Quoted, Auto Finance News, "New ABS Rule Unlikely to Escalate Disparate Impact Cases, Lawyer Says," December 19, 2016

Quoted, Auto Finance News, "Credit Decline May Spur 'Big' Problems, Lawyer Says," by William Hoffman, December 14, 2016

Quoted, Auto Finance News, "Honor Finance Issues 'Risky' Deep Subprime Auto ABS, Lawyer Says," by William Hoffman, December 12, 2016

Quoted, International Financing Review, "Strong Interest for Honor's High-Risk Subprime Auto Debut - IFR News," by Joy Wiltermuth, December 2, 2016

Quoted, ValueWalk, "As Subprime Auto Loan Delinquencies Spike, Parallels And Differences With 2008 Housing Crisis Linger," by Mark Melin, December 2, 2016

Quoted, Law360.com, "Natixis Says Suit Over $400M in RMBS Losses is Too Late," August 23, 2016

Quoted, Structured Credit Investor, "Next Steps: Madden Ruling Created Landscape of Uncertainty," July 12, 2016

Quoted, Structured Credit Investor, "Madden Uncertainty to Continue," June 28, 2016

Quoted, AltFi, "Supreme Court Rejects Midland Appeal in Major Blow to Marketplace Lenders," June 28, 2016

Quoted, Crowdfund Insider, "Legal Experts Respond to SCOTUS Decision Not to Review Second Circuit Madden vs. Midland Decision," June 27, 2016

Quoted, Global Restructuring Review, "New York Court Dismisses Madoff Trustee's Fraud Claims Against Investment Funds," by Jack Barton, March 21, 2016

Quoted, Law360.com, "Natixis Says Securities Administrator Can't Bring RMBS Suit," by Stewart Bishop, August 26, 2014

Mentioned, Law360.com, "Morgan Stanley Can't Nix Fraud Claims Over $694M in RMBS," by Stewart Bishoip, June 10, 2014

Quoted, Adweek.com, "Agencies in Catch-22 Over Client Finances," by Andrew McMains and Noreen O’Leary, May 18, 2009

PROFESSIONAL MEMBERSHIPS/AFFILIATIONS

New York State Bar Association

BAR ADMISSIONS

New York
New Jersey
Texas
Massachusetts

EDUCATION

Rutgers University School of Law, J.D., 1995
New York University, M.B.A, 1990
Pace University, B.B.A., 1986