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Nicholas S. Penn
Mr. Penn is one of the managers of the transactional practice at Leftwich & Ludaway, LLC. He has worked on a wide range of transactional matters including the disposition of federal government assets through bulk and individual sales, structured sales, and securitizations; municipal bond issuances and corporate acquisitions and sales. Mr. Penn advised the U.S. Small Business Administration in connection with its loan sales program for performing, subperforming and nonperforming business and disaster assistance loans. He has represented the SBA in connection with the seven loan sales to date. In aggregate, these sales have resulted in the disposition of approximately 165,000 business and disaster assistance loans with a total unpaid principal balance of approximately $5.9 billion. Mr. Penn also advises the U.S. Department of Housing and Urban Development on HUD’s multifamily and single family mortgage loan sales. Since 1995, he has represented HUD in connection with many single family and multifamily asset disposition sales of mortgage loans with an aggregate unpaid principal balance of approximately $6 billion. Mr. Penn supervised or worked on the majority of transactional matters that the firm handled for the Resolution Trust Corporation, including a series of eight bulk loan sales involving thousands of primarily performing whole loans and participations held by more than two hundred RTC institutions, some of which were serviced by RTC and some serviced by other non-RTC institutions; a transaction to dispose of several hundred real property assets and non-performing commercial loans that were either environmentally impaired or burdened with special resource issues such as wetlands; the sale of various partnership interests held by a wholly owned subsidiary of a failed thrift institution; and the review, as either oversight or due diligence counsel, of the assets and liabilities of approximately fifty subsidiaries at various failed thrift institutions and the preparation of disposition recommendations regarding the assets of such subsidiaries.
Mr. Penn also works extensively on regulatory matters involving the electric utility industry in the District of Columbia, including proceedings to address base rate increase applications, least cost planning matters, merger and divestiture issues, and the implementation of retail customer choice. He has also appeared before the District of Columbia Court of Appeals in connection with several challenges to orders of the Public Service Commission of the District of Columbia.
Mr. Penn has served as a member of the District of Columbia Downtown Action Plan Task Force; the Business/Professional/Financial Services Industries Working Group that worked on the Strategic Economic Development Plan for Washington, D.C.; and a Mayoral Transition Team for Public Service Commission of the District of Columbia and Office of the People's Counsel. He currently serves as a member of the Board of Directors and General Counsel to the Washington D.C. Technology Council, Inc. and provides legal services to several other nonprofit organizations. Mr. Penn is a graduate of Georgetown University Law Center and also received a B.A. in Economics from Georgetown University.
Leftwich & Ludaway L.L.C. • 1400 K Street, NW • Suite 1000 • Washington, DC • 20005-2403
Telephone: 202.434.9100