LSTA appoints Sherman as special counsel to speed up distressed settlement

By Sara Rosenberg

New York, Sept. 17 - The LSTA announced Tuesday that Barbara Sherman has been appointed as special counsel for distressed settlement, a project-based position created for the purpose of accelerating distressed loan settlement.

With the appointment of Sherman, costs are expected to be reduced and delays are expected to be minimized in connection with the settlement of distressed loan trades. Sherman's responsibilities will include exploring, establishing and executing strategies to improve standard documentation and market practices.

Sherman has almost 20 years of related legal experience in the financial markets "and will bring focused attention to finding solutions for the protracted delays being experienced in the settlement of distressed loan trades," a news release said.

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