Patrick Degnan represents clients in corporate transactions including entity formations, mergers, acquisitions, private placements, federal and state tax matters, corporate governance, and executive compensation.
Patrick represents clients in transactions occurring throughout the life-cycle of a business. He regularly assists clients in the formation of entities with a focus on the near, mid, and long-term objectives of the business. As businesses mature, Patrick helps clients implement executive compensation and employee retention programs and advises clients on compliance with Internal Revenue Code Section 409A and SEC Rule 144 in the administration of those programs. Patrick assists clients in capital restructuring and changes to existing corporate governance structures. In the later stages of corporate existence, Patrick participates in all phases of asset purchase, stock purchase, and private equity transactions.
His extensive tax and accounting background provides a mathematically focused approach to his client’s corporate transactional issues. He analyzes and prepares financial models involved in transactions and works closely with accounting and finance teams to ensure that client’s financial objectives are reflected in the transaction’s documentation.
Patrick also advises clients on issues related to blockchain and other emerging technologies. He has advised financial institutions in creating ransomware attack policies designed to comply with OFAC and FINRA guidance, and advised clients in the mechanics of blockchain transactions.
State Bar Licenses
- Co-authored an appellate brief in a multi-million dollar wrongful death case, resulting in the Illinois Appellate Court upholding a $4.75 million jury verdict.
- Represented home builder in $40 million asset sale
- Represented offerors in $50 million real estate joint venture with a publicly traded REIT
- Represented client in $70 million Private Equity transaction
- Represented non-profit healthcare provider in IRS appeals process, resulting in the elimination of over $100 million in Affordable Care Act compliance penalties incurred over a multi-year review period.
Completed prior to joining Clark Hill.
- “ARPA Provides for Full COBRA Premium Subsidies,” Ryley Carlock & Applewhite Article (April 2021)
- “Small Businesses Are About To Get An Exclusive Window In Which To File PPP Applications,” Ryley Carlock & Applewhite Legal Alert (February 2021)