Pauline Stevens is a partner in the Los Angeles office and heads the firm's Commercial Finance Practice Group.
She represents lenders, administrative agents and borrowers in connection with domestic and cross-border financial transactions ranging from leveraged financings to Chapter 11 exit financings and workouts, trade financings, credit enhancement, private banking and asset-backed financings. Financial products with which she works include acceptances, foreign exchange products and letters of credits. These transactions frequently are secured by intellectual property, real property, restricted stock and other non-traditional (and sometimes exotic) collateral.
Among the assets comprising collateral in the transactions on which Pauline works are commodities, designer label apparel, manufacturing equipment, fine art, fresh and processed food products, gas stations, investment quality wines, land development projects, rights to payment from various sources (including commercial mortgage notes, equipment leasing and entertainment residuals), restaurants and vineyards. It is common for these transactions to involve intercreditor and subordination arrangements with other lenders, factors, franchisors, take-out sources of re-financing and trade creditors.
By bringing to bear experience in a broad array of transactions and wide-ranging substantive knowledge built on a background as an insolvency and bankruptcy practitioner, Pauline helps clients solve problems creatively. Her in-depth knowledge of commercial and creditor laws provides Pauline the ability to negotiate and close complex financing transactions on compressed timelines. Clients depend on her to work with them to achieve results that work for all parties.
In addition to lecturing on commercial finance topics, Pauline's writing has won her a Burton Award for Legal Achievement, and she has been elected a fellow of the American College of Commercial Finance Lawyers. Prior to joining Allen Matkins, Pauline was a partner at Morrison & Foerster LLP and, before that, an assistant general counsel with Bank of America.