Sullivan
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Biography

Jennifer leads Sullivan's Global Debt and Claims Trading practice. She represents hedge fund, private equity and asset management clients in distressed investment matters. Jennifer developed a strong record representing clients in secondary loan transactions in the U.S., Europe and the emerging markets. Jennifer advises on trade claim transactions, loan portfolio and private securities transactions and other distressed trading issues.

Jennifer provides tailored legal advice at every stage of a transaction. She regularly consults with related Sullivan practice areas, providing an integrated approach to each client's unique needs and bespoke deals. Jennifer is an active member of the Loan Syndication and Trading Association (LSTA) and the Loan Market Association (LMA).

Jennifer works with the Capital Markets Practice. She regularly represents clients in corporate and commercial transactions, including secured debt financings, equity financings and private investment in public equity transactions. Jennifer also represents clients in transactions involving digital assets.

Jennifer also represents fine jewelry and art clients in various transactional matters.

Jennifer enjoys writing about legal issues affecting the secondary market. She is published in the New York Law Journal and Turnarounds & Workouts, a news magazine for corporate restructuring professionals. She was quoted in Refinitiv.com, one of the world’s largest providers of financial markets data and infrastructure. Jennifer was profiled in the Corporate Counsel Business Journal when she was an associate about the importance of investing in client relationships.

Education
  • New York Law School (J.D.)
  • Cornell University (B.S.)
Bar & Court Admissions
  • New York
  • New Jersey
Professional Qualifications
  • Trade Practices and Forms Committee, Loan Syndications and Trading Association
  • Loan Market Association
  • American Bar Association
  • New York Bar Association
Buy-Siders Cheer SEC Climbdown on Loans
Jennifer Behrens was quoted in the article "Buy-Siders Cheer SEC Climbdown on Loans," published by Risk.net [sub. req'd.]. The article addresses the question of whether syndicated loans -- so-called Term Loan B notes -- should be considered securities. The Securities and Exchange Commission (SEC) last week declined to file an amicus brief with an opinion on the topic, effectively remaining silent on the issue, a surprise and welcome outcome to many industry participants. "The SEC’s decision to not submit a brief reaffirms that term loans are not securities," said Jennifer. 
Loan Market Faces More Regulation as Overlooked Lawsuit Heats Up
Jennifer Behrens was quoted twice in the article "Loan Market Faces More Regulation as Overlooked Lawsuit Heats Up," published by Bloomberg Markets [sub. req'd] on April 6, 2023. The article discusses the potential for sweeping changes to the $1.4 trillion leveraged loan market, as the U.S. Securities and Exchange Commission prepares a response to a federal appeals court request for comment on whether leveraged loans should be regulated like securities. "A case that most loan market participants initially disregarded is becoming closely watched," Jennifer, referenced as an industry lawyer, says. The article noted that the SEC's decision could affect the disclosure and handling of corporate information. With investors in loans sometimes privy to closely guarded information about company financials and other data, Jennifer explained that such investors are generally permitted to trade on that information, as long as they inform counterparties that they possess privileged information and as long as it doesn't cross the line into material non-public information.