Representing lenders, government agencies, manufacturers, and operators, the team at Vedder has extensive experience managing domestic and international leasing and debt financing. The firm is well-placed to handle railcar purchases and securitizations of railcar portfolios, with experience with both borrowers and lenders. Based in Chicago, Geoffrey Kass leads the team alongside fellow Chicago-based Michael Draz, who undertakes a range of portfolio acquisitions and divestitures. New York’s Jeffrey Veber is well-versed in cross-border leveraged leases and asset purchase agreements. In Chicago, Joel Thielen excels in representing private equity funds, hedge funds, and commercial banks. Clay Thomas, in Los Angeles, is a key name in investment fund formations and joint ventures. Rounding out the team in Chicago is Jillian Musa, who has experience handling the establishment of offshore leasing platforms and matters involving syndicated equity. John Bycraft retired in December 2024.
Legal 500 Editorial commentary

Accolades

Client satisfaction: Billing & efficiency
Client satisfaction: Sector knowledge

Testimonials

Collated independently by Legal 500 research team.

  • ‘The group has expertise in the transportation sector.’

  • ‘The Transport Rail and Road finance practice has deep experience, is practical, creative, responsive, and great to work with.’

  • ‘Michael Draz, Mark Ditto, and Clay Thomas are outstanding!'

  • ‘The team has a good mix of experience and lots of expertise. They have "seen it all" in the finance world for leased railcars.’

  • ‘Clay Thomas has a great eye for detail.'

Key clients

  • Chicago Freight Car Leasing Co.
  • Atlas SP
  • Export Development Canada
  • Greenbrier
  • ITE Management
  • J.P. Morgan Asset Management
  • National Steel Car Limited
  • PNW Railcars, Inc.
  • Stonebriar Commercial Finance
  • Trinity Industries, Inc.
  • AITX
  • Banc of California

Work highlights

Represented Trinity Industries Leasing Company in an extension and expansion of a $1.05 billion secured term loan financing of a portfolio of railcars and related leases.
Represented ITE Management in connection with a $400 million STEAM 2024-1 railcar asset-backed securitization.
Represented AITX in connection with a $550 million senior unsecured issuance of investment grade notes.

Lawyers

Leading partners

The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.

Next Generation Partners

Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.

Clay Thomas
Clay Thomas
Leading associates

Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.

Practice head

Geoffrey Kass; Michael E. Draz

Other key lawyers

Jeffrey Veber; Joel Thielen; Clay Thomas; Jillian Musa; Mark Ditto