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DLA Piper LLP (US)

1251 AVENUE OF THE AMERICAS, NEW YORK, NY 10020-1104, USA
Tel:
Work +1 212 335 4500
Fax:
Fax +1 212 335 4501
Web:
www.dlapiper.com

David Luce

Tel:
Work +1 212 335 4735
Email:
Web:
www.dlapiper.com/en/us/people/l/luce-david-d/
DLA Piper LLP (US)

Work Department

Corporate; Finance; Structured Finance and Securitization; Insurance and Reinsurance Disputes; Insurance

Position

Partner

Career

David Luce has over 20 years of experience with solving complex problems for sophisticated clients in the financial services and insurance industries.

David's practice includes M&A, securities offerings, structured finance, venture capital and emerging growth in the fintech sector, general insurance matters and regulatory investigations.

David has extensive experience in mergers and acquisitions, insuretech and venture capital, reinsurance, securities offerings, and embedded value financings of life insurance policy reserves, variable annuity hedging, sidecars, catastrophe bonds, transformer trades, insurance and weather-linked derivatives, longevity and mortality swaps and pension solutions. He also advises insurance companies on strategic venture investments, as well as a number of insur emerging growth companies and start-ups.

He has worked on transactions involving over $20 billion in public insurance M&A and over $15 billion in securitization and other financings. His M&A experience includes acquisition by merger, stock purchase, asset purchase, bulk reinsurance, loss portfolio transfers and other mechanisms.

Languages

Japanese

Education

J.D., University of Virginia School of Law; B.A., University of Virginia


United States: Finance

Structured finance: securitization

Within: Structured finance: securitization

DLA Piper LLP (US) has experience in a range of structured products and securitizable asset classes, though the team is perhaps best known for its CLO practice, which is among the country's top ten arranger-side teams in terms of deal volume. Richard Reilly, who heads the CLO practice, acted for Goldman Sachs in roughly $18bn of CLO new issues, reissues and resets in 2018. In addition, Reilly also maintains an active manager-side practice, having advised Ares Management on approximately $6bn of CLO deals in a 12-month span from October 2017. A key figure in the ABS group is Boston-based Andrew Sroka, who has experience in fintech ABS, and recently advised Laurel Road Prime Student Loan Trust, as issuer, and Laurel Road Bank, as sponsor, on multiple student loan ABS offerings. Further, New York's Peter White acted for Goldman Sachs in relation to the securitization of certain naming rights agreements for the NFL Hall of Fame Village. Christopher Giordano also has experience of student loan ABS, and David Luce is a key contact in the structured products practice.

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United States: Industry focus

Insurance: non-contentious

Within: Insurance: non-contentious

The cross-disciplinary practice at DLA Piper LLP (US) stands out for its experience in insurtech, venture capital and intellectual property matters, while also advising on M&A, corporate reorganizations, risk management, product development and regulation. Key New York partner David Luce's recent highlights include a role for GC Securities - a division of MMC Securities - on the first pure wildfire exposed catastrophe bond, as well as advising Fannie Mae on the first transaction in a pilot program to use enterprise paid mortgage insurance in place of policies on individual mortgage loans. Other notable individuals include David Mendelsohn and Stephen Schwab in Chicago, and Kathleen Birrane in the Baltimore office.

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United States: Media, technology and telecoms

Fintech

Within: Fintech

New York-based David Luce heads DLA Piper LLP (US)’s multidisciplinary fintech and blockchain practice which has expertise handling regulatory, corporate, securities, M&A, capital markets and intellectual property matters. Its impressive client roster ranges from providers of financial infrastructure software, payment solutions, alternative lending platforms and analytics companies to venture capital and those in the insurtech space. The group's broad capabilities include acting for technology companies in financing transactions, such as recently assisting Kabbage with its $525m asset-backed securitization transaction and advising Doc.ai Incorporated, a developer of decentralized conversational AI technology, on its SAFT offering. Other recent work includes assisting sponsors and investors in the cryptocurrency space and advising the firm's broad client base on regulatory issues. The team’s expertise in acting for emerging companies was bolstered by the arrival of Margo Tank in Washington DC and David Whitaker in Chicago from Buckley LLP.

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Legal Developments by:
DLA Piper LLP (US)

  • Sentencing guidelines for corporate manslaughter

    In February 2010 the Sentencing Guidelines Council (the SGC) issued definitive guidelines to courts on imposing appropriate sentences for corporate manslaughter and health and safety offences causing death. The SGC states that fines imposed on companies found guilty of corporate manslaughter should not fall below £500,000, while fines in respect of health and safety offences that are a significant cause of death should be at least £100,000. Crucially, the SGC declined to provide for a fixed link between the imposed fine and the turnover or profitability of the offending company.

    - DLA Piper UK LLP

Legal Developments worldwide

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  • DO FIDIC RULE APPLY IN CONSTRUCTION CONTRACTS IN UAE?

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    By way of background, in January 2019, the Capital Markets Board (“ CMB ”) had issued an announcement on its website on the Draft CommuniquĂ© on Equity Crowdfunding [1] . The CMB has now officially published the CommuniquĂ© on Crowdfunding No. III-35/A (“ CommuniquĂ© ”), on October 3, 2019. The CommuniquĂ© entered into force as of October 3, 2019.
  • Beneficial Ownership Concept new interpretation from the Russian federal tax service

    The recent interpretative letter issued by the Russian Federal Tax Services (“FTS”) on 08th August 2019, has provided further guidance as to the application of the Beneficial Ownership Concept, further to the letter initially provided on the 12th of April 2018 which adopted a strict approach of the concept. 
  • Cyprus and Netherlands Double Tax Treaty Update

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  • Vacancy - Senior Corporate Lawyer

    The Senior Corporate Lawyer, who will be reporting to Partners, will be working with both the firm’s legal team as well as the financial services team. The successful candidate will be requested to show initiative, take on certain responsibilities within the firm, work in a multinational environment and will immediately be given the opportunity to further advance their career within the law firm.
  • CJEU RULED ON THE APPLICATION OF THE BENEFICIAL OWNERSHIP CONCEPT

    The judgment of the Court of Justice of the European Union (CJEU) on February 26, 2019, in the “Danish Beneficial Ownership Cases”, can be perceived as a landmark on the interpretation of the Beneficial Ownership concept under the Interest and Royalties Directive (IRD) and the Parent-Subsidiary Directive (PSD).
  • Court of Justice rules on source of income for Derivative Residence applications

    On 2 October 2019, the Court of Justice delivered its judgment in Bajratari v Secretary of State for the Home Department (Directive 2004/38/EC) Case C-93/18 which concerns Chen applications and the source of funds for self-sufficiency. 
  • End of the ‘centre of life test’ in Surinder Singh cases?

    In the recent case of  ZA (Reg 9. EEA Regs; abuse of rights) Afghanistan   [2019] UKUT 281 (IAC ), the Upper Tribunal found that there is no basis in EU law for the centre of life test, as set out in Regulation 9(3)(a) of the Immigration (European Economic Area) Regulations 2016 (the “Regulations”). It further found that it is not to be applied when Judges assess  Surinder Singh  cases that appear before them.
  • ITALIAN RULES ON JOINT VENTURES IN PUBLIC PROCUREMENT AND CONCESSIONS

    Italian rules on jointventures concerning public procurement and concession contracts are set out inlight of the European legal framework provided for in Directive 2014/23/EU and 2014/24/EU of the European Parliament and of the Council. The European rules aim to ensurethe best use of public money so that EU citizens benefit from strategicinvestments and services at fair prices. In this context, public procurementand concessions represent key instruments that need to be regulated and standardisedin order to ensure free movement of goods, freedom of establishment and freedomto provide services.
  • Terms of employment as a sole representative

    In this article we examine the working arrangements of sole representatives, looking at the terms and conditions of employment that the Home Office will expect a sole representative to have in order to qualify as a representative of an overseas business.