Forensic, General & Medical
Expert Witnesses

Derivatives, Swaps and Structured Financial Products - Expert Witness & Consultant

James W. Lovely, B.B.A., M.B.A., J.D.

James W. Lovely, B.B.A., M.B.A., J.D.

6700 South Florida Avenue, Suite #3
Lakeland, Florida 33813

Phone(863) 398-9898

Website www.fpexpert.com
E-mail  Send an email

Expert WitnessSpeaker
James Lovely provides expert witness, litigation support and consulting services concerning swaps, derivatives and other capital markets products. He has both academic training and extensive and varied executive and legal career experience with financial products and in financial markets.

Mr. Lovely is knowledgeable concerning the structuring, execution, documentation, management, termination and regulation of financial products, including futures, options, swaps, swaptions, forwards, derivatives, and securities. He has deep experience with financial product documentation, including ISDA, NAESB and SIFMA documentation, master agreements, prime brokerage agreements, repurchase agreements, securities lending agreements, liquidity facilities, structured financial products, commercial paper programs, tender option bond programs, and commodity financings.

Services

James Lovely offers the following services:

Review and advice on financial products, related documentation and regulation, and associated disputes, compliance issues, market customs and practices.

Pre-default or pre-litigation planning and preparation.

Post-default notification and damages calculations.

Review of pleadings, depositions, and other court documents.

Assistance in formulating and responding to discovery.

Consulting reports evaluating potential or pending litigation or disputes.

Expert witness testimony and reports.

Presentations on financial industry issues and developments related to derivatives. Examples include:

“Over-the-Counter Derivatives: A Framework for Oversight”, sponsored by the Institute of Internal Auditors, Charlotte Area Chapter, Charlotte, North Carolina, April 14, 1997.

“Credit Derivatives for Effective Credit Portfolio Management”, sponsored by ICM Conferences, New York, New York, September 10-11, 1997.

“Interest Rate Derivatives: An Overview” – Presentation to Central Florida – Government Finance Officers Association (April 13, 2006) (co-authored with R. Stephens).

“Collateral and Margin for 'Upstream' Swaps After the Dodd Frank Act”, Presentation for Frost Bank (February 11, 2013).

"Swap Counterparty Default and Recent Industry Developments", Presentation for Frost Bank (July 22, 2016).


Litigation Support Services

Mr. Lovely provides unbiased and impartial expert testimony and litigation support services for plaintiff and defense attorneys.

Areas of Expertise

Profile

Graduate of Top 10 Law School

Multiple Degrees in Finance - with a focus on financial products and markets.

Real World Experience (not just Ivory Tower) - as a senior executive and lawyer in an investment bank, a commercial bank, a derivatives dealer, a commodity pool, and large law firms.

Skilled in Simplifying Complex Financial Products and Disputes.

Capable Translator - between lawyers and executive and financial officers on issues touching both the legal and financial worlds.

References available upon request.

Consulting Practice

All States

More Information

James W. Lovely Expert Services
James W. Lovely Credentials, Legal Consultant
Consulting Services of James W. Lovely
Contact James Lovely, Expert Witness

Professional Experience

Since 1/2011 - Consultant to banks, hedge funds, family offices and law firms on (i) structured financial products and derivatives, (ii) financial product, derivative and prime brokerage documentation, (iii) law, regulation and compliance issues impacting trading, hedging, and asset management activity, and (iv) general corporate and financial matters. Provider of consulting and expert witness services to parties involved in litigation, disputes or workouts concerning financial products, derivatives, securities, commodities and secured lending. (Nationwide)

07/2006 to 08/2010 - CFO, Juice Source, LLC, a wholly-owned affiliate of a CFTC licensed commodity pool operator. (Florida)

03/2004 to 06/2006 - Senior Counsel, Holland & Knight LLP. (Florida)

07/1998 to 08/2003 - Managing Director - Global Structured Products, Bank of America, N.A. (San Francisco, CA)

10/1996 to 06/1998 - Senior Associate, Cadwalader, Wickersham & Taft. (Charlotte, NC)

07/1993 to 09/1996 - Associate General Counsel and Director, Nomura Securities International, Inc., a registered FCM and broker-dealer, and General Counsel of Nomura Capital Services, Inc., a swap dealer (New York City)

10/1991 to 06/1993 - Associate, Cadwalader, Wickersham & Taft (New York City).


Licenses

Admitted to practice law in New York, North Carolina and Florida.

See Qualifications.


Legal Experience & Services

Please see above.


Affiliations

Member, American Mensa

Bar Associations of New York, North Carolina and Florida.


Qualifications

• Admitted to practice law in New York, North Carolina and Florida.

• NFA/CFTC Series 3 license (inactive).

• SEC Series 7 and Series 63 licensed (each inactive).

• Past member of the Professional Ethics Committee of the Florida Bar.

• Past member of the ABA’s Business Law Section and UCC - Article 8 Subcommittee.

• Past participant in the Documentation Subcommittee and Collateral Working Group of ISDA.

• Past participant in the Commercial Paper Working Group and Ad Hoc Reg. T (Margin) Subcommittees of the BMA (now SIFMA).


Awards & Honors

Law School - Order of the Coif (top 10%), Legal Writing Award (Fall 1988). Graduate School - Albert Wesley Frey Award (valedictorian), H.R. Young Fellowship (full academic fellowship), Phi Kappa Phi Fellowship, Financial Executives' Institute Award. Undergraduate School - Isaac Bashevis Singer Scholarship (full academic scholarship), National Merit Scholarship, Beta Gamma Sigma and Phi Kappa Phi.


Seminars & Training

“Negotiation of Over-the-Counter Derivatives: What are the “In-Stone” Provisions & What is Negotiable?”, sponsored by the Financial Advisory Council, New York, New York (May 2-4, 1994).
“Legal and Regulatory Issues Concerning Over-the-Counter Derivatives”, sponsored by the Brazilian Comissao de Valores Mobiliarios and the Sao Paulo and Rio de Janeiro stock exchanges, Sao Paulo and Rio de Janeiro, Brazil (September 28-29, 1994).
“Over-the-Counter Derivatives: A Framework for Oversight”, sponsored by the Institute of Internal Auditors, Charlotte Area Chapter, Charlotte, North Carolina (April 14, 1997).
“Credit Derivatives for Effective Credit Portfolio Management”, sponsored by ICM Conferences, New York, New York (September 10-11, 1997).
“Perry Global Funding Limited: Issuer Presentation and ABCP Industry Developments”, sponsored by Standard & Poor’s, Asset-Backed Securitization Conference, Orlando, Florida, May 5-8, 2003.
“Municipal Derivatives: Basics, Uses and Risks,” Presentation to SunCoast League of Cities, Howey-in-the-Hills, Florida (June 12, 2004) (co-authored with R. Stephens).
“Municipal Price Risk Management: Basics, Uses and Risks”, Presentation to Florida Gas Utility Annual Meeting, Clearwater, Florida (July 16, 2004) (co-authored with R. Stephens).
“Interest Rate Derivatives: An Overview” – Presentation to Central Florida – Government Finance Officers Association (April 13, 2006) (co-authored with R. Stephens).
“Collateral and Margin for Swaps After the Dodd Frank Act”, Presentation for the Sierentz Fund, L.P. (September 17, 2012).
“Derivative Trading Considerations”, ACA Compliance Group – Fall 2012 Compliance Conference (October 18, 2012) (co-authored with M. Holland West).
“Collateral and Margin for “Upstream” Swaps After the Dodd Frank Act”, Presentation for Frost Bank (February 11, 2013).
"Swap Counterparty Default and Recent Industry Developments", Presentation for Frost Bank (July 22, 2016).


Publications

“Agency Costs, Liquidity, and the Limited Liability Company as an Alternative to the Close Corporation,” 21 Stetson L. Rev. 377 (1992) (reprinted in 34 Corp. Practice Commentator 531 (Clark Boardman Callaghan) (1993)).
“Soft Dollar Brokerage Arrangements Involving Commodity Futures Transactions,” 16 Futures & Derivatives L. Rep. 9 (Jan. 1997) (co-authored with H. West).
“Revised Article 8 of the NYUCC,” Cadwalader, Wickersham & Taft - Client & Friends Memorandum (October 1997) (co-authored with S. Cohen and L. Kalembka).
“Broker-Dealer Lite: SEC Regulations for OTC Derivatives Dealers,” 17 Futures & Derivatives L. Rep. 9 (co-authored with M. Bartlett and R. Shirazi).
“Derivatives for Governmental Users: Basics, Uses and Risks,” Holland & Knight LLP – Public Finance, Vol. 4, Issue 1 (May 2004) (co-authored with R. Stephens).
“Fixed Spread Basis Swap: Trade Summary,” Holland & Knight LLP – Public Finance, Vol. 5, Issue 1 (January 2005) (co-authored with R. Stephens).
“Changes in Federal Insolvency Laws Benefit the Municipal Financial Market,” Holland & Knight LLP – Public Finance, Vol. 5, Issue 2 (August 2005).
“Municipal Derivatives and Taxation – Current Topics,” Holland & Knight LLP – Public Finance, Vol. 6, Issue 1 (March 2006) (co-authored with J. Theberge).


Professional References

Representative engagements include:
* Analysis of transaction documents, opposing expert’s report, and related financial issues (including estimated damages), assistance to counsel during opposing expert’s deposition, and provision of deposition testimony in a New York State Court case concerning a $500 million municipal bond repurchase agreement, municipal bonds, interest rate derivatives, and tender option bond programs. Case settled.
* Review of transaction documents and opposing expert’s report, preparation of rebuttal report on a $17 million aircraft loan, guarantees and related swap documentation and swap sales practices issues, and provision of deposition testimony in a U.S. Federal District Court case concerning industry standards, customs and practices with respect to loan and guarantee documents and swaps. Case settled.
* Evaluation for defense counsel of documents, opposing expert's opinion, and witness statements as to whether promissory notes were "securities" under Florida and Federal law and provision of both deposition and trial testimony in a Florida criminal case. Defendant acquitted on all counts.
* Review of business plan, organizational documentation, depositions and related information to support plaintiff's claims in a Massachusetts State Court case concerning conformity of hedge fund management company practices and conduct relative to financial industry standards, and related trial testimony. Plaintiff won favorable verdict.


Education

J.D., University of Virginia School of Law, May 1991.

M.B.A., Katz Graduate School of Business, University of Pittsburgh, July 1988.
• Concentration in Corporate Finance, Investments, and Economics, Summa cum laude.

B.B.A., University of Miami, May 1987.
• Finance major, General University Honors, Summa cum laude.





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