Overview
Richard Facciolo has served as Delaware counsel in many asset-backed securitizations, trust preferred transactions, and project finance transactions.
Richard handles transactional matters involving the formation and operation of Delaware statutory trusts and other alternative business entities. He represents Delaware banking organizations in their capacity as trustees of common law and statutory trusts that issue securities backed by auto loans, home equity loans, credit card receivables, and mortgage loans.
Richard also advises clients regarding the characterization of asset transfers as true sales under the United States Bankruptcy Code and the structuring of special-purpose bankruptcy-remote entities to protect against substantive consolidation with affiliates and others. He has spoken on these topics for the American Bankers Association’s Capital Markets Seminar, the American Bankruptcy Institute’s Finance and Banking Committee, and the American Bar Association’s Real Property, Trust and Estate Law Section’s Meeting.
PRACTICES
- University of Maryland School of Law, J.D., with honors, 1996
- University of Delaware, B.S., 1984
Education
Publications
Practical Law | August 2017
These Standard Clauses are a representative set of separatenessrequirements that a lender may require in a borrower’sorganizational documents and loan documents. These StandardClauses contain integrated drafting notes with importantexplanations and drafting and negotiating tips.…
Bankruptcy Remote Entities in Commercial Real Estate Transactions
Practical Law The Journal | November 2015
In commercial real estate transactions, lenders commonly require borrowers to organize as bankruptcy remote entities to limit certain risks associated with a borrower’s bankruptcy filing. This article discusses the fundamentals of using a bankruptcy remote entity to purchase and finance commercial real estate and the key considerations for both lenders and borrowers.
Bankruptcy Remote Entities in Commercial Real Estate Transactions
Practical Law | May 5, 2015
This Practice Note discusses the use of bankruptcyremote entities in commercial real estatetransactions, including different types of bankruptcyremote entities, the separateness provisions oftenrequired by lenders and the consequences ofsubstantive consolidation. This Note discusses thefundamentals of using a bankruptcy remote entityto purchase real estate, including the reasons aninvestor may be required to establish a separateentity to purchase…
Delaware’s Continued Commitment to Captive Insurance
Delaware Banker | Summer 2010
Delaware continues its commitment to establishing a reputation as a competitive domicile for licensing a captive insurance company.
Recognition
- The Best Lawyers in America, since 2014; Wilmington, DE Securitization & Structured Finance Lawyer of the Year, 2015
Bar Admissions
- Delaware, 1999
- Maryland, 1996 (inactive)