Professionals

Penny R. Heaberlin 
Partner

Phone: 612.672.8315
Fax: (612) 642-8315
email: penny.heaberlin@maslon.com

Penny Heaberlin is a partner in Maslon's Financial Services Group.  Penny's practice focuses on representation of banks, asset-based lenders and lessors in loan and lease documentation, including unsecured, secured and asset-based commercial loans and real estate construction and term loans.  In addition, Penny devotes significant time to creditor representation in workouts and bankruptcy matters, and to regulatory matters affecting banks and other lenders.  She also frequently represents borrowers in commercial loan and real estate loan transactions. Before attending law school, Penny worked as a C.P.A. for a national public accounting firm, and spent ten years in the banking industry as a commercial lender and workout loan specialist.

Areas of Practice
  • Financial Services
  • Commercial Loan Documentation
  • Leasing and Equipment Finance
  • Contracts for Deed
  • Tax Increment Financing/TIF
  • Defaulted Loans and Workouts
  • Creditors' Rights in Bankruptcy
  • Indenture Trustee Representation
  • Financial Institution Regulatory Matters
  • Real Estate
  • Real Estate Financing
  • Development
  • Project Finance
  • Payment Claims
  • Construction
Education
  • Drake University Law School, Des Moines, Iowa, 1993, J.D.
    Honors: Order of the Coif
    Honors: With Honors
    Honors: West Publishing Award for Top First Year Student
    Honors: Prentiss-Hall Taxation Award
    Law Review: Drake University Law Review, Member, 1991-1992; Notes Editor, 1992-1993
  • Drake University, Des Moines, Iowa, 1993, M.B.A.
  • Drake University, Des Moines, Iowa, 1979, B.S.
    Honors: Magna Cum Laude
    Major: Accounting
Penny Heaberlin

Experience

  • Represented public debt indenture trustee of $225 million senior subordinated notes in connection the reorganization of a petrochemical manufacturing company.
  • Lender's counsel for secured letter of credit facility to natural gas supplier.
  • Lender's counsel for asset based loans and import-export line of credit to electric motor manufacturer.
  • Lender's counsel for real estate construction and term loans, including SBA 501 financing, for a hotel.
  • Lessor's counsel for a corporate aircraft lease.
  • Borrower's counsel for $115 million revolving credit and letter of credit facility.
  • Represented bank holding company issuing $70 million in senior notes.
  • Represented lender in successful workout of manufacturing company loan default.
  • Represented lessor in bankruptcy proceedings to assume or reject lease of commercial real property.
  • Represented state bank in relocation of bank charter and approval of new detached facility.
  • Provided regulatory advice to out-of-state consumer and mortgage lender.

Extended Bio

Maslon Edelman Borman & Brand, LLP 612.672.8200
3300 Wells Fargo Center
90 South Seventh Street
Minneapolis, Minnesota 55402-4140
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