Dave is senior counsel to the firm. He has over twenty years of deep experience
in merchant bank card law, and regularly assists both growing and mature
payment processors, vendors, independent sales organizations, sales representatives,
ISVs, VARs and other integrated solution providers, eCommerce and gateway
providers, and merchants in a variety of matters relating to electronic
In his role as advisor and general counsel to merchant bank card providers,
Dave has negotiated and documented BIN/ICA, DEX/MIP, PayFac/Marketplace
and related sponsorship and service agreements, reseller and referral
agreements, marketing and promotion agreements, API and gateway license
agreements, master and standard sales agent agreements, and developer
Specifically, Dave has helped develop and implement residual buyback, merchant
advance, split funding, up-front bonus, free terminal, merchant benefit,
gift/loyalty/stored value, sales affiliate, private label, mobile payments,
PayFac/Marketplace, integrated payments and other programs. He has represented
buyers and sellers alike in strategic acquisitions/sales and portfolio
acquisitions/sales, and regularly advises clients on card brand rules
and regulations, PCI DSS and PA DSS compliance, IRS 6050W compliance,
money services business compliance, data breach and privacy statutes,
and a host of other federal and state compliance matters.
Appreciated by his clients for his clear and timely communication, Dave
brings a highly organized and proactive approach both to issue spotting
and to legal project management.
Dave has also represented both lenders and borrowers in structuring, negotiating
and documenting complex commercial lending transactions. These transactions
include syndicated and participated loans, asset-based loans, mezzanine
financings, acquisition financings, credit enhancements, and equipment
leasing transactions. He has also counseled clients extensively on creditors’
rights and loan workout matters.
Dave’s experience extends to real estate matters, where he typically
represents commercial real estate developers and investors relating to
land acquisition, development and financing matters. He has extensive
experience with large commercial and residential developments and renovations,
with a concentration in affordable housing matters.
Dave attended the George Washington University, where he received his B.A.
degree with Distinction in Economics in 1980, and his J.D. with Honors
in 1983. Dave served as a member and notes editor of The George Washington
Journal of International Law and Economic Development.
Following his graduation from law school and admission to the Connecticut
Bar, Dave worked as an associate for the law firm of Pullman & Comley
LLC (1983-1990). In 1990, Dave joined the law firm of Trager & Trager,
LLC, as a member of the firm, which merged into Berkowitz, Trager &
Trager, LLC in 1999, and he became senior counsel to the firm in November 2018.
Dave has been listed in “The Best Lawyers in America®” since 2007, and enjoys a Martindale-Hubbell AV peer review rating.
The George Washington University, J.D., 1983
The George Washington University, B.A. Economics, 1980
State of Connecticut, as well as the U.S. District Courts for Connecticut.
- Representation of super-ISO in the acquisition of a fully integrated, end-to-end
payment processor handling $50,000,000,000 in annual card transactions.
- Representation of super-ISO with approximately 100,000 merchants in sale
of business to strategic buyer.
- Representation of super-ISO in the acquisition of 15,000+ merchant portfolio
and related sales engine.
- Representation of ISO as borrower of $160,000,000 in revolving and term
credit facilities issued by syndicated lending group.
- Representation of start-up in structuring and rolling out digital home
contractor referral marketplace.
- Served as lead counsel in effort to acquire 90,000 merchant portfolio and
related sales engine out of Bankruptcy.
- Representation of loan arranger, administrative agent and lead lender in
syndicated $18,000,000 refinance and construction loan facilities extended
to a 250-room hotel and conference center.
- Representation of hedge fund in $11,000,000 fully monitored warehouse line
of credit to national cosmetic surgery finance company.
- Representation of developer in the first privatization of publicly owned
housing project in the State of Connecticut, consisting of 450 affordable
housing units, and funded by $16,000,000 in housing authority bonds, $6,000,000
in state grants and $10,000,000 in tax credit financing.
- Representation of development joint venture in the acquisition, development
and sale of 40-acre waterfront parcel located in Stamford, Connecticut.
- Representation of affordable housing developer in acquisition, financing
and development of 400+ unit, multi-phased affordable housing project.
- Representation of 100 unit, regional restaurant chain in Chapter 11 bankruptcy
- Representation of limited partner investor group in bankruptcy reorganization
of major Connecticut real estate developer and operator.