Kirsten Polyansky

Practices

Education and Clerkships

LL.M., Georgetown University Law Center, 2002

J.D., Southern Methodist University Dedman School of Law, 1999

B.A., University of Notre Dame, 1996

Admissions

Texas, 1999

Court Admissions

United States Supreme Court, 2003

U.S. Court of International Trade, 2004

U.S. Court of Appeals for the Federal Circuit, 2004

U.S. District Court for the Northern District of Texas, 2001

Profile

Kirsten Polyansky’s practice is the blend of a physical oil lawyer and a commodities finance lawyer. This means that Kirsten is just as comfortable assisting clients by digging into the commercial details associated with buying, selling and handling physical oil as she is serving as lead deal counsel for complex financing arrangements spanning several time zones.

Kirsten joined Haynes and Boone after serving as in-house counsel for almost a decade, most recently focusing on the commodities operations of a global investment bank. As a result, Kirsten approaches her practice and clients with a fresh and very real perspective on what it means to serve in an in-house legal role with often strapped resources, pressing business demands, intense time constraints, all in an aggressive regulatory environment. Kirsten believes that her clients demand and deserve quality work product that is generated with a laser focus on being pragmatic, commercial, on-time and on-budget.

Kirsten has developed a truly unique skill set and strong reputation working on commodity inventory monetization and intermediation structures, particularly involving crude oil and refined products for several years now. At the conclusion of 2016, Kirsten managed the Haynes and Boone team that helped a private equity client successfully purchase a refinery and related assets largely financed via inventory monetization financing. On this transaction, the Haynes and Boone team represented the client in connection with the inventory financing, crude supply arrangements, franchise and PMPA work, and various regulatory and licensing matters. Also at the conclusion of 2016, Kirsten managed the Haynes and Boone team that helped execute a first of its kind inventory monetization tolling arrangement for a Canadian refinery. Kirsten has successfully lead deal teams for refinery transactions in the United States, the United Kingdom, Canada and Germany.

In her role covering physical trading, Kirsten works on a wide variety of commercial matters in the midstream and downstream oil space. For example, Kirsten works on supply and offtake arrangements, exchange transactions, storage and transport agreements for pipeline, vessel, barge, truck and rail, import and export documentation and compliance, licensing and regulatory authorizations, insurance coverage work, force majeure and other dispute-related events and credit documentation, such as letters of credit, netting agreements and guarantees.

Selected Client Representations

  • Lead counsel to a private equity firm in the acquisition of a refinery and associated distribution terminals, plus over 50 retail gas stations in Hawaii. Our representation in this transaction involved multiple disciplines, including monetization financing, regulatory efforts (including EPA, U.S. Customs and Border Protection, U.S. Coast Guard, U.S. Army Corps of Engineers), franchise filings, and refinery supply arrangements.
  • Represented supplier/financing party to establish a full-service supply and tolling arrangement providing the full working capital needs of a Canadian refinery.
  • Represented downstream fuel supplier with an extensive U.S retail gasoline network in connection with its fuel supply contracts.
  • Represented downstream fuel supplier in connection with its marine terminal operation network and supply agreements.
  • Served as lead deal counsel for an international financial institution in executing: A more than US$900 million dollar inventory monetization/true sale transaction for a refinery in the United Kingdom, including ongoing crude supply, CSO ticketing and product intermediation components.
  • Served as lead deal counsel for an international financial institution executing a US$300 million dollar inventory monetization/true sale transaction for a refinery in Germany, including ongoing crude supply, product intermediation and CSO ticketing.
  • Served as lead deal counsel for an international financial institution executing a US$395 million dollar inventory monetization/true sale transaction for a refinery in Hawaii with ongoing supply, product intermediation and other components.
  • Represented a large bank to effectively “monetize” rail cars for one firm client in a multi-year transaction, which also involved crude supply.
  • Represented a large bank to establish and build its physical oil trading business in the United States and Canada, with such work including: obtaining all necessary licensing; reviewing regulatory items; establishing internal controls and import-export procedures; negotiating master agreements (including U.S. oil annex, Canadian annex and general terms and conditions); reviewing insurance requirements and negotiating same; drafting contract templates for commercial trading; negotiating storage, transport and credit-related documentation; and managing force majeure and other dispute-related events.

Navigating Current Oil and Gas Markets

This series of energy industry alerts provides both oil and gas producers and bankers with timely information about distressed commodity prices and legal options to consider regarding credit agreements, restructuring debt, and potential defaults.

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