Michael F. Maglio

(he/him/his)

Partner

  • Overview

    Biography

    Michael Maglio's practice is concentrated in the areas of commercial and corporate finance, asset-based lending, and other secured and unsecured lending. He is a member of the firm’s Business Transactions, Bankruptcy + Reorganizations, and Sustainability Groups.

    Financing Transactions

    Mike represents institutional lenders and borrowers in structuring, negotiating, and documenting complex single- and multiple-lender, single- and multiple-obligor, and single- and multi-tiered financing transactions. His experience includes the representation of senior lenders in complex commercial, asset-based and acquisition financings across various industries, such as telecommunications, construction, media, marketing, manufacturing, aviation, healthcare, real estate and transportation. He recently represented the agent and syndicate of lenders in connection with a $350 million senior secured revolving credit facility to affiliate companies providing intermodal trucking services throughout North America.

    Creditors’ Rights and Debt Restructurings

    In addition to his transactional finance practice, Mike regularly advises clients in the areas of creditors' rights and problem loan workouts, with particular emphasis on default resolution and loan restructurings. He recently guided a client, in its separate capacities as senior agent, senior lender and junior lender, through a restructuring of complex senior and subordinated construction loan facilities that exceeded $33 million to a company engaged in the design, procurement, and installation of a 10.3 MW gas-fired combined co-generation and ice production facility.

    Sustainability and Green Finance

    As a member of the firm’s interdisciplinary Sustainability Group, Mike represents lenders in financing transactions to green project development and renewable energy companies. He recently represented an institutional lender providing a $22 million construction loan to an affiliated group of companies to fund the construction costs associated with the design, procurement, and installation of 26 MW commercial rooftop solar array projects for two Fortune 50 companies to be located on 60 commercial buildings in four states.

    Mike lectures frequently on issues relating to commercial lending and distressed loan workouts. He served as a member of advisory committees appointed by the Connecticut Law Revision Commission to study and advise the Connecticut legislature on the enactment of commercial law legislation, including Revised Article 9 of the Uniform Commercial Code.

    Mike is a fellow of the American College of Commercial Finance Lawyers. He has been selected to the Connecticut Super Lawyers list from 2006 to 2009 and from 2017 to 2022 as well as listed in The Best Lawyers in America© in the areas of Banking and Finance Law since 2013, Commercial Finance Law since 2016, Equipment Finance Law since 2008, and Securitization and Structured Finance Law since 2007.

  • Experience
    • Experience

      Experience

      • Represented a syndicate of lenders in a $65 million secured credit facility to an operator of 22 health care facilities located in Connecticut, Rhode Island, and Massachusetts.
      • Represented a lender in a series of secured credit facilities involving working capital facilities, term loans, and mortgage loans, as well as related interest rate protection arrangements, to an integrated group of affiliate corporations.
      • Represented the agent and a syndicate of lenders in a $350 million secured credit facility to a major national commercial trucking concern.

      • Represented a lender in a $25 million loan restructuring with an obligated group of affiliate companies in the commercial construction industry that involved complex intercreditor and bankruptcy issues.
      • Representation of a senior lender providing revolving and term loans to partially finance the acquisition of a company specializing in turnkey conversion of shrink sleeve packaging products by another packaging company.
      • Represented an institutional lender providing a $22 million construction loan to an affiliated group of borrowers to fund the construction costs associated with the design, procurement, and installation of 26 MW commercial rooftop solar array projects for two Fortune 50 companies to be located on 60 commercial buildings in four states and secured by all assets of the borrowers. We advised on respective rights under all contracts with equipment procurement contractors (EPCs), power purchase agreements, renewable energy certificates, agreements relating to federal investment tax credits, interconnection agreements, and maintenance agreements. The contemplated refinancing of this transaction involved the placement of permanent senior loan financing from an institutional lender, a tax credit equity investment (in the form of a "partnership flip," which involved the creation of special purpose entities) from an institutional investor, and the associated intercreditor, interparty, and other related third-party issues.

      • Represented a lender, as administrative and collateral agent and a lender, in a $9,500,000 senior secured construction-to permanent term loan facility, and also as the sole lender in a contemporaneous $6,150,000 senior subordinated construction-to-permanent term loan facility, provided to a borrower to fund the construction costs associated with the design, procurement, and installation of a 10.3 MW gas-fired combined co-generation and ice production facility in Staten Island, New York, secured by all personal and real property assets of the borrower and its affiliates, including their respective rights under all contracts with procurement contractors, interconnection agreements, and maintenance agreements and involving associated intercreditor, interparty, and other third-party issues. Assisted the client in evaluating the permitting and environmental requirements for and status of the borrower's co-generation facility as well as interacting with state agencies involved in the permitting process and with tax abatements.

    • Professional Associations

      Professional Associations

      American Bar Association
      Business Law Section, Commercial Financial Services Committee
      Business Law Section, Uniform Commercial Code Committee

      Connecticut Bar Association
      Business Law Section
      Commercial Finance Section
      Commercial Law and Bankruptcy Section (1982 - present)

      American College of Commercial Finance Lawyers
      Fellow

      Turnaround Management Association
    • Honors + Awards

      Honors + Awards

      Selected to the Connecticut Super Lawyers list from 2006 to 2009 and from 2017 to 2022.

      Selected by his peers for inclusion in The Best Lawyers in America© in the areas of Banking and Finance Law since 2013, Commercial Finance Law since 2016, Equipment Finance Law since 2008, and Securitization and Structured Finance Law since 2007.

      Listed in The Best Lawyers in America© as Hartford Lawyer of the Year in the area of Banking and Finance Law for 2018 and 2022

    • Community Involvement

      Community Involvement

      Easter Seals Capital Region & Eastern Connecticut
      Former Member, Board of Directors
      Golf Tournament Steering Committee
  • NEWS + PRESS
    • Publications

      Publications

      "Revised Article 8 of the Uniform Commercial Code: Taking Security Interests in Securities Held in Brokerage Accounts – Finally, Commercial Rules Which Make It Easier to Do Business," published in Client Alert
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      "Connecticut Commercial Lending Law," published in Commercial Lending Law: A State-By-State Guide (2016)
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      "Connecticut State Law of Guaranties," published in The Law of Guaranties: A Jurisdiction-by-Jurisdiction Guide to U.S. and Canadian (2/2013)

    • Presentations

      Presentations

      "Changes to Article 9 of the UCC in Connecticut," at Connecticut Bar Association's Commercial Finance Section, Members and Executive Committee, co-presented with James Schulwolf, Shipman & Goodwin LLP (10/23/2013)

      "Commercial Lending Requirements and Loan Documentation in Connecticut," at continuing education seminar sponsored by Lorman Educational Services

      "Working Capital Guarantee Program of the Export-Import Bank of the United States," at Commercial Financial Services Committee of the Business Law Section of the American Bar Association
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      "Revised Article 9-A Nuts and Bolts Guide for Connecticut Practitioners," at Connecticut Bar Association (CBA) continuing education seminar

      "Commercial Lending in Connecticut," at continuing education seminar sponsored by the National Business Institute (NBI)

      "Revised Article 9 of the Uniform Commercial Code - What You Don't Know, Will Hurt You," at CBA continuing education seminar
      • » more info



    • News

      R+C in the News

      • October 18, 2018

        51 Robinson+Cole Lawyers Recognized by Super Lawyers®

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      • August 20, 2018

        52 Robinson+Cole Lawyers Listed in The Best Lawyers in America© 2019

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      • June 17, 2016

        Robinson+Cole Lawyer Co-authors Connecticut Chapter of Commercial Lending Law: A Jurisdiction-by-Jurisdiction Guide to U.S. and Canadian Law

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      • November 18, 2013

        Michael Maglio Speaks at CBA Meeting

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      • February 28, 2013

        Robinson & Cole Lawyer Co-Authors Connecticut Chapter of The Law of Guaranties Guide

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      • November 2, 2010

        Finance Partner Selected to Serve on Connecticut Law Revision Commission Advisory Committee

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      R+C News Releases

      • August 17, 2023

        78 Robinson+Cole Lawyers Listed in The Best Lawyers in America© 2024

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      • October 11, 2022

        Robinson+Cole Lawyers Recognized in 2022 Super Lawyers®

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      • August 18, 2022

        74 Robinson+Cole Lawyers Listed in The Best Lawyers in America 2023

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      • October 14, 2021

        Robinson+Cole Lawyers Recognized by Super Lawyers®

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      • August 19, 2021

        65 Robinson+Cole Lawyers Listed in The Best Lawyers in America© 2022

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      • October 15, 2020

        47 Robinson+Cole Lawyers Recognized in Super Lawyers®

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      • August 20, 2020

        61 Robinson+Cole Lawyers Listed in The Best Lawyers in America© 2021

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      • October 19, 2019

        52 Robinson+Cole Lawyers Recognized by Super Lawyers®

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      • August 15, 2019

        57 Robinson+Cole Lawyers Listed in The Best Lawyers in America© 2020

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      • August 15, 2018

        Mike Maglio and Earl Phillips Receive Best Lawyers® 2019 “Lawyer of the Year” Designation

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      • October 17, 2017

        Robinson+Cole Lawyers Recognized by Super Lawyers®

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      • August 15, 2017

        Fifty-Nine Robinson+Cole Lawyers Listed in The Best Lawyers in America© 2018

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      • August 15, 2016

        Robinson+Cole Receives Top Listing in Connecticut Lawyer Count in The Best Lawyers in America® 2017

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      • February 1, 2016

        Robinson+Cole Forms Sustainability Cross-Practice Team

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      • August 18, 2015

        Robinson+Cole Receives Top Listing in Connecticut Lawyer Count in The Best Lawyers in America® 2016

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      • August 19, 2014

        Robinson+Cole Receives Top Listing in Connecticut Lawyer Count in Best Lawyers National Peer Review Survey

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      • August 16, 2013

        Robinson & Cole Receives Top Listing in Connecticut Attorney Count in Best Lawyers National Peer Review Survey

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      • August 28, 2012

        Robinson & Cole Receives Top Listing in Connecticut Attorney Count in Best Lawyers National Peer Review Survey

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      • September 12, 2011

        Robinson & Cole Receives Top Listing in Connecticut Attorney Count in Best Lawyers National Peer Review Survey

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    • Legal Updates/Newsletters

      Legal Updates/Newsletters

      "PPP Update: New Round with Some New Rules" co-authored with Endicott (Kit) Peabody IV, Taylor A. Shea and Barrett P. Wilson-Murphy (1/27/2021)

      "PPP Update: Loan Necessity Questionnaires" co-authored with Taylor A. Shea, Endicott (Kit) Peabody IV, Samuel C. Maduabueke and Barrett P. Wilson-Murphy (11/9/2020)

      "PPP Update: SBA Procedural Notice - Paycheck Protection Program Loans and Changes of Ownership" co-authored with Barrett P. Wilson-Murphy, Taylor A. Shea, Eric M. Kogan, Jeffrey L. Volpintesta and Endicott (Kit) Peabody IV (10/9/20)

      "PPP Update: Treatment of Owners and Forgiveness of Certain Nonpayroll Costs" co-authored with Barrett P. Wilson-Murphy, Endicott (Kit) Peabody IV and Taylor A. Shea (8/31/20)

      "Paycheck Protection Program Flexibility Act" co-authored with Barrett P. Wilson-Murphy, Jeffrey L. Volpintesta, Taylor A. Shea and Endicott (Kit) Peabody IV

      "PPP Update: Loan Forgiveness Application" co-authored with Barrett P. Wilson-Murphy, Jeffrey L. Volpintesta, Taylor A. Shea and Endicott (Kit) Peabody IV, which examines key aspects of the Paycheck Protection Program (PPP) loan forgiveness application and related instructions. (5/19/2020)
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      "PPP Loans: Further Guidance on the “Necessity Certification”" co-authored with Taylor A. Shea, Barrett P. Wilson-Murphy, Jeffrey L. Volpintesta and Endicott (Kit) Peabody IV, presented by the Hartford Business Journal and New Haven Biz

      "COVID-19 Relief: Understanding The Federal Reserve’s Main Street Lending Program" co-authored with Eric M. Kogan, Taylor A. Shea, Endicott (Kit) Peabody IV and Barrett P. Wilson-Murphy (4/13/2020)