Seth Mennillo helps clients with their most sophisticated transactional finance work, from origination through workouts and restructurings. Clients rely on him for valuable market intelligence and a well-rounded perspective on business and legal issues.
Seth represents lenders in a variety of credit facility types and structures – including working capital and acquisition financings, cash flow and asset-based structures, and senior secured, junior lien and mezzanine facilities – across a broad range of industries including retail and apparel, information technology, healthcare and biotechnology, manufacturing, sports, energy, and utilities.
Seth’s clients have included traditional bank lenders, including Bank of America, Citizens Bank, JPMorgan, Truist Bank, U.S. Bank, Webster Bank, and Wells Fargo, as well as non-bank lenders including SLR Credit Solutions, Encina, First Eagle, Callodine Commercial Finance, Kayne Anderson, Pathlight, Siguler Guff, and TCW.
- Massachusetts Super Lawyers Rising Star
- Bank of America in a $400 million asset-based credit facility for J. Crew upon the company’s emergence from Chapter 11 restructuring.
- Bank of America in a $125 million senior secured term loan to a Major League Soccer team.
- Bank of America in a $500 million multicurrency, cross-border revolving credit facility to Vertex Pharmaceuticals (Nasdaq: VRTX).
- Citizens Bank in a $125 million asset-based credit facility for American Freight and Buddy’s Home Furnishings, subsidiaries of Franchise Group, Inc. (Nasdaq: FRG).
- Citizens Bank in a $150 million asset-based credit facility for Steve Madden (Nasdaq: SHOO).
- SLR Credit Solutions in $60 million pre-petition and $29 million debtor-in-possession asset-based credit facilities for a clothing retailer.
- SLR Credit Solutions in a $15 million senior secured term loan for ProAir, a leading manufacturer of heating and air conditioning systems for the specialty vehicle market.
- Encina Business Credit in an $80 million asset-based credit facility to a leading provider of business process outsourcing services.
- Encina Business Credit in a $15 million revolving credit facility to a mining operation.
- Kayne Anderson in a $65.5 million senior secured credit facility in connection with the acquisition of Bright International by Aterian Investment Partners.
- Kayne Anderson in a senior secured credit facility in connection with the acquisition of Revolution Plastics by Arsenal Capital.
- U.S. Bank in a $100 million delayed draw term loan facility to a Major League Baseball team.
- Wells Fargo in an $85 million asset-based credit facility for an international shoe retailer.
- Wells Fargo in a $200 million asset-based term loan facility in connection with the take-private acquisition of a major office supply retailer.
Education & Credentials
- Boston University School of Law
- JD, 2006, magna cum laude
- Senior Articles Editor, Boston University Law Review
- University of Southern California
- BA, 2001, magna cum laude
Seth 's Insights
Successful claims for “lender liability” have been vanishingly rare in recent years. At the very end of 2021, however, the Bankruptcy Court for the Northern District of Texas, in a case named Bailey Tool & Mfg. Co., et al. v. Republic Bus. Credit (In re Bailey Tool & Mfg. Co.), Adv. No. 16-03025-SGJ (Bankr. N.D. Tex. December 23, 2021), found a lender liable for damages in excess of $17 million after multiple years of litigation and a lengthy trial.
Today Choate announced its largest class of new equity partners in the Firm’s history for the second year in a row.
Choate represented Citizens Bank, N.A., as Agent, in connection with a $150,000,000 senior secured loan to Steven Madden and various of its subsidiaries.
Choate recently secured an appellate victory in its defense of claims brought against Wells Fargo arising out of the bankruptcy of hhgregg, a now defunct Midwestern big box retailer.
Choate represented GACP Finance Co., LLC in connection with a $40,000,000 second lien term loan to Vista Outdoor Inc., a global, publically traded company that specializes in the design, manufacturing and marketing of consumer products in the outdoor sports and recreations market.