Michael Evan Avidon is Co-Chair of Moses & Singer’s Banking & Finance Practice Group. Mike’s clients include money center banks (often acting as administrative agent for a syndicate of lenders) and other financial institutions.
Mike is widely recognized for his knowledge of letters of credit (LCs), lending, and secured transactions. He was named “2022 Letter of Credit Lawyer of the Year” by the Institute of International Banking Law & Practice. His practice emphasizes secured and unsecured lending transactions, LC transactions, trade finance, supply chain finance, accounts receivable purchases, draft discounting, subscription finance, electronic contracting, white labeling agreements, and LC litigation. His LC work involves standby, direct pay, and commercial LCs as well as demand guarantees.
Mike served as an Observer to the Joint Study Committee on the Uniform Commercial Code and Emerging Technologies (involving digital negotiable instruments and other innovations and proposed changes to the UCC) and was a member of the ICC’s Consultative Group that helped prepare the ICC’s Uniform Rules for BPOs (automated bank payment obligations). He was a leading participant in the 1990's revision of UCC Article 5 on Letters of Credit and the preparation of the International Standby Practices 1998 (ISP98). He served on the American Bar Association/U.S.C.I.B. Task Force whose report led to the 1990's UCC Article 5 revision. He also participated in drafting Rules of Arbitration for the International Center for Letter of Credit Arbitration, Inc. and is a charter member of the Editorial Advisory Board of Documentary Credit World (and, previously, of Letter of Credit Update).
Mike writes and speaks frequently about LCs, demand guarantees, syndicated lending, secured transactions, trade finance, and other finance-related topics, and actively participates in bar associations and trade groups. Mike was elected a Fellow of the prestigious American College of Commercial Finance Lawyers. He is a past Co-Chair of the Letters of Credit Subcommittee of the UCC Committee of the American Bar Association and a past Chair of the Subcommittee on Letters of Credit of the New York State Bar Association's Banking Law Committee.
Mike has been listed in The Best Lawyers in America® as well as Law & Politics' New York Super Lawyers®. Martindale-Hubbell® awarded him its highest AV rating for both ethics and legal abilities in his practice area.
- Harlan Fiske Stone Scholar, Columbia University School of Law
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Moderator and Panelist: "Annual LC Survey West / Americas & Europe," Institute of International Banking Law & Practice, April 2022.
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Panelist: "What's New in the LSTA's Updated Revolving Credit Agreement," American Bar Association, April 2022.
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Program Chair, Moderator and Panelist: "Letters of Credit & Applicant Bankruptcy: U.S. and Canadian Bankruptcy Provisions and Cases for Beneficiaries, Issuers, Applicants and Others," American Bar Association, March 2019.
- Program Chair and Panelist: "Letters of Credit & Bank Guarantees: Traps for the Unwary in Cross-Border & Domestic Transactions," American Bar Association, April 2016.
- "If You Build It, Will They Come? The New Bank Payment Obligation (BPO)," Moses & Singer Webinar, March 2014.
- Frequent speaker and panelist, including for the ABA, BAFT, the City Bar Center for CLE, the PLI, the Institute of International Banking Law & Practice, other trade associations and bar associations, and banks, regarding: letters of credit, demand guarantees, syndicated lending, secured transactions, supply chain finance, UCC Articles 9, 8 and 5, UCP 600, ISP98, URDG 758 and the URBPO.
- New York State Bar Association (Past-Chair, Subcommittee on Letters of Credit; Member, Banking Law Committee, Business Law Section)
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American Bar Association (Past-Co-Chair, Subcommittee on Letters of Credit; Member, Subcommittees on Secured Transactions, Loan Documentation, Syndications and Lender Relations, Legal Opinions in Commercial Finance, and Cross Border and Trade Financing, Committees on Banking Law, Uniform Commercial Code, Commercial Finance, and Legal Opinions, and Business Law Section (and other groups); and 1986-1990 was a Member of the Task Force on the Study of U.C.C. Article 5)
- American College of Commercial Finance Lawyers
Michael Evan Avidon is Co-Chair of Moses & Singer’s Banking & Finance Practice Group. Mike’s clients include money center banks (often acting as administrative agent for a syndicate of lenders) and other financial institutions.
Mike is widely recognized for his knowledge of letters of credit (LCs), lending, and secured transactions. He was named “2022 Letter of Credit Lawyer of the Year” by the Institute of International Banking Law & Practice. His practice emphasizes secured and unsecured lending transactions, LC transactions, trade finance, supply chain finance, accounts receivable purchases, draft discounting, subscription finance, electronic contracting, white labeling agreements, and LC litigation. His LC work involves standby, direct pay, and commercial LCs as well as demand guarantees.
Mike served as an Observer to the Joint Study Committee on the Uniform Commercial Code and Emerging Technologies (involving digital negotiable instruments and other innovations and proposed changes to the UCC) and was a member of the ICC’s Consultative Group that helped prepare the ICC’s Uniform Rules for BPOs (automated bank payment obligations). He was a leading participant in the 1990's revision of UCC Article 5 on Letters of Credit and the preparation of the International Standby Practices 1998 (ISP98). He served on the American Bar Association/U.S.C.I.B. Task Force whose report led to the 1990's UCC Article 5 revision. He also participated in drafting Rules of Arbitration for the International Center for Letter of Credit Arbitration, Inc. and is a charter member of the Editorial Advisory Board of Documentary Credit World (and, previously, of Letter of Credit Update).
Mike writes and speaks frequently about LCs, demand guarantees, syndicated lending, secured transactions, trade finance, and other finance-related topics, and actively participates in bar associations and trade groups. Mike was elected a Fellow of the prestigious American College of Commercial Finance Lawyers. He is a past Co-Chair of the Letters of Credit Subcommittee of the UCC Committee of the American Bar Association and a past Chair of the Subcommittee on Letters of Credit of the New York State Bar Association's Banking Law Committee.
Mike has been listed in The Best Lawyers in America® as well as Law & Politics' New York Super Lawyers®. Martindale-Hubbell® awarded him its highest AV rating for both ethics and legal abilities in his practice area.
- Harlan Fiske Stone Scholar, Columbia University School of Law
-
Moderator and Panelist: "Annual LC Survey West / Americas & Europe," Institute of International Banking Law & Practice, April 2022.
-
Panelist: "What's New in the LSTA's Updated Revolving Credit Agreement," American Bar Association, April 2022.
-
Program Chair, Moderator and Panelist: "Letters of Credit & Applicant Bankruptcy: U.S. and Canadian Bankruptcy Provisions and Cases for Beneficiaries, Issuers, Applicants and Others," American Bar Association, March 2019.
- Program Chair and Panelist: "Letters of Credit & Bank Guarantees: Traps for the Unwary in Cross-Border & Domestic Transactions," American Bar Association, April 2016.
- "If You Build It, Will They Come? The New Bank Payment Obligation (BPO)," Moses & Singer Webinar, March 2014.
- Frequent speaker and panelist, including for the ABA, BAFT, the City Bar Center for CLE, the PLI, the Institute of International Banking Law & Practice, other trade associations and bar associations, and banks, regarding: letters of credit, demand guarantees, syndicated lending, secured transactions, supply chain finance, UCC Articles 9, 8 and 5, UCP 600, ISP98, URDG 758 and the URBPO.
- New York State Bar Association (Past-Chair, Subcommittee on Letters of Credit; Member, Banking Law Committee, Business Law Section)
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American Bar Association (Past-Co-Chair, Subcommittee on Letters of Credit; Member, Subcommittees on Secured Transactions, Loan Documentation, Syndications and Lender Relations, Legal Opinions in Commercial Finance, and Cross Border and Trade Financing, Committees on Banking Law, Uniform Commercial Code, Commercial Finance, and Legal Opinions, and Business Law Section (and other groups); and 1986-1990 was a Member of the Task Force on the Study of U.C.C. Article 5)
- American College of Commercial Finance Lawyers
- Columbia University School of Law (J.D.)
- Brooklyn College (B.A., summa cum laude)
- New York
- U.S. District Court, Southern District of New York
- U.S. District Court, Eastern District of New York
- Represented money center bank as administrative agent in structuring, negotiating and closing a multi-billion dollar facilities for U.S. clearing corporations.
- Represented money center bank as administrative agent in structuring, negotiating and closing multi-billion dollar syndicated subscription credit facility for large private equity and energy funds organized in U.S. and foreign jurisdictions.
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Represented money center bank as agent in structuring, negotiating and closing a $475 million syndicated subscription credit facility for three mezzanine debt funds and two of their feeder funds organized in U.S. and foreign jurisdictions.
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Represented multiple letter of credit beneficiaries in obtaining summary judgment for wrongful dishonor against bank that claimed it had erred and meant to limit its liability to an amount less than the aggregate amount of 11 letters of credit issued to 11 different beneficiaries.
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Represented money center bank in obtaining summary judgment against letter of credit issuer that wrongly set-off against tens of millions of dollars owed to our client.
- Represented money center bank in innovative partial transfer and silent confirmation of large international letter of credit to finance sale of gas turbines.
- Represented the New York Branch of a foreign bank, which was the target of legal actions in India and New York seeking contradictory relief, in obtaining a stay in New York pending completion of an arbitration to determine whether a drawing on a letter of credit was fraudulent.
- Represented money center bank as administrative agent in structuring, negotiating and closing multi-billion dollar syndicated facilities for U.S. clearing corporations.
- Represented money center bank that had issued a counter-standby letter of credit in defeating applicant's motion for a preliminary injunction.
- Represented money center bank as administrative agent in structuring, negotiating and closing syndicated secured letter of credit facilities for one of the largest solar power companies in the world.
- Represented money center bank as administrative agent in structuring, negotiating and closing syndicated subscription credit facility for one of the world's largest and most prominent private equity funds.
- Represented issuing bank in obtaining summary judgment upholding the bank's dishonor of a drawing under a standby letter of credit where presentation failed to include the original letter of credit and amendments as mandated by the credit's express terms.
- Represented many U.S. national banks and branches of foreign banks in preparing letter of credit-related forms such as reimbursement agreements, letter of credit templates, assignments of letter of credit proceeds, and commitments to purchase or negotiate documents.
- Mike Avidon Named "2022 Letter of Credit Lawyer of the Year" by the Institute of International Banking Law & Practice
- Moses & Singer LLP Attorneys Achieve Super Lawyer 2021 Status
- Mike Avidon Contributed to LSTA’s Draft Model Form of Revolving Credit Agreement
- Michael Evan Avidon Worked With The Loan Syndications and Trading Association In Improving Certain Letter of Credit Related Provisions
- Moses & Singer LLP Attorneys Achieve Super Lawyer 2020 Status
- Mike Avidon To Co-Chair Virtual Meeting of ABA Letters Of Credit Subcommittee
- Moses & Singer LLP Attorneys Achieve Super Lawyer Status
- Moses & Singer Attorneys Achieve Super Lawyer Status
- Moses & Singer Achieve Super Lawyers Status
- Moses & Singer Attorneys Achieve Super Lawyers Status
- Super Lawyers Honors Moses & Singer Attorneys in 2015 New York Metro Edition
- Michael Evan Avidon Honored with Appointment to American College of Commercial Finance Lawyers
- Michael Evan Avidon Advises Bankers on the BAFT Master Trade Loan Agreement
- Super Lawyers Honors Moses & Singer Attorneys in 2014 New York Metro Edition
- Martindale-Hubbell Announces List of Top Rated Lawyers In New York
- Super Lawyers Announces List Moses & Singer Attorneys
- Moses & Singer Acts As Outside Counsel To JPMorgan Chase Bank and J.P. Morgan Securities On $14.6 Billion Credit Facility
- Moses & Singer LLP Banking Attorney Michael Evan Avidon Speaks on Bank Payment Obligations, A New Era in International Trade Finance
- Moses & Singer LLP Contributes to Lexis Practice Advisor, a LexisNexis Product for Attorneys Handling Transactional Matters
- New York Super Lawyers® Lists Moses & Singer Lawyers
- Mike Avidon Provides an Update on Bank Payment Obligations
- Moses & Singer Celebrates Its Alumni
- Moses & Singer Lawyers Contribute to Lexis® Practice Advisor
- Moses & Singer Attorneys Earn Top Listing
- Moses & Singer A Sponsor of Japan Day 2010
- Moses & Singer Lawyers Listed in 2008 New York Super Lawyers®
- NY Magazine and Best Lawyers name Michael Evan Avidon and Gideon Rothschild in their 2008 survey results as two of "The New York Area's Best Lawyers"
- We congratulate our partners chosen to New York Super Lawyers
- Moses & Singer triumphs as a friend of the Court
- Michael Evan Avidon Speaking at 2020 BAFT Virtual Trade Finance Workshop
- Michael Evan Avidon, Paul Roder & Dave Rabinowitz Will Be Panelists At This Year's Standby & Guarantee Forum & Letter of Credit Law Summit
- Mike Avidon to Speak at the 2019 BAFT New York Trade Finance Workshop
- Michael Evan Avidon and Mark N. Parry to Speak at ABA Business Law Section 2019 Spring Meeting
- Standby & Guarantee Forum + LC Law Summit
- New York Trade Finance Workshop
- Annual Survey of LC Law & Practice - Charlotte
- Standby & Guarantee Forum + LC Law Summit
- 2017 BAFT New York Trade Finance Workshop
- 25th Americas Annual Survey of Letter of Credit Law & Practice - Atlanta
- Standby & Guarantee Forum + LC Law Summit
- BAFT New York Trade Finance Workshop
- 2016 Americas Annual Survey of Letter of Credit Law & Practice
- The Institute of International Banking Law & Practice
- New York Trade Finance Workshop - Letters of Credit
- 24th Annual BAFT International Trade Conference - Trade Loan Agreements
- Americas Standby & Guarantee Forum and LC Law Summit
- Developing Industry Best Practices: Introduction To The Master Trade Loan Agreement
- BAFT Global Trade Finance Workshop
- 2014 Americas Annual Survey of Letter of Credit Law & Practice
- Webinar: If You Build It, Will They Come? The New Bank Payment Obligation (BPO)
- Americas Letter of Credit Law Summit
- Americas Standby and Guarantee Forum
- BAFT-IFSA Global Trade Workshop
- 2013 Americas Annual LC Survey Conference
- 2012 Americas LC Law Summit
- 2012 Americas Standby & Guarantee Forum
- Documentary & Standby Letters of Credit, Guarantees and Reimbursements Workshop
- Commercial Lending Today: New Developments in Letters of Credit and Demand Guarantees
- New Options in Trade Finance: Understanding the New URDG 758
- What’s New in the LSTA's Updated Revolving Credit Agreement?
- Important Holdings for Letter of Credit Users and Issuers From Recent New York Cases Involving Natixis Funding Corp. and Natixis, New York Branch
- Credit Agreement Checklist of Issues To Consider In Light of the Ongoing Pandemic
- Giving Credit Where Credit is Due: Letters of Credit and the Coronavirus
- Letters of Credit and Applicant Bankruptcy
- Facing the Known Unknown: Advice to Banks and Other Financial Institutions Preparing for Compliance with New York’s New Cybersecurity Regulation
- Original Letter of Credit Must Be Presented For Complying Presentation: MEPT 757 Third Avenue LLC v. Sterling National Bank
- Trustees Post-Bankruptcy Counsel Fees not Allowed as Part of its Unsecured Claim against the Bankruptcy Estate
- BAFT Master Trade Loan Agreement
- Why New York Law and Jurisdiction Offers Advantages for International L/C Transactions
- Treasury and IRS Issue Final FATCA Regulations
- Model Standby Forms Under ISP98: Comments on Form 4 - Model Standby Providing for Transfer and Incorporating Annexed Form of Transfer Demand
- ISP98 Rule 3.12(a): Is it a Trap, or a Warning to an Unwary Beneficiary of a Letter of Credit
- Subscription-Secured Credit Facilities: Basic Credit-Related Issues for Secured Lenders
- A US Perspective on the New URDG758 Compared to ISP98, UCP600 and the NY UCC
- New Opportunities in Trade Finance: Understanding the URDG 758
- Drafting the Reimbursement Agreement to Protect the Issuer
- Forms Under Revised Article 9
- UCC Revised Articles 5 and 9 Assignment of Proceeds of Letter of Credit and Request for Issuer Consent
- Getting Ready for ISP98-The New International Standby Practices
- Getting Ready for ISP98-The International Standby Practices
- Notice of Nonrenewal of an 'Evergreen' Letter of Credit Must be 'Clear and Unequivocal'