“A very high-quality team of very skilled practitioners.”
– Chambers USA
Chadbourne’s Bankruptcy and Financial Restructuring Group has an impressive record of achieving successful outcomes for its clients in Chapter 11 cases and corporate restructurings both in the US and abroad. Our lawyers are active in all areas of business restructurings and insolvencies, in matters ranging from the largest multinational mega-cases to significant regional businesses. Our group is widely respected for our representation of ad hoc and official creditors’ committees, indenture trustees in out-of-court restructurings and examiners. Having represented major creditors in every major municipal restructuring, our municipal bankruptcy practice is rated “tier one” by The Legal 500 United States. We are also known as leaders in the field of cross-border restructuring, having filed many of the most significant cases brought under Chapter 15 of the Bankruptcy Code. Chambers USA recognizes our group annually as one of the leading firms in the bankruptcy/restructuring area, noting that the firm is “a highly respected player in the bankruptcy market, with a team that brings specific expertise in international and cross-border restructurings.”
Energy Future Holdings Chapter 11
Chadbourne represents NextEra Energy, Inc., one of the largest electric power companies in North America, in its planned acquisition of Energy Future Holdings (EFH) and EFH’s stake in Oncor Electric Delivery Company in a deal worth US$18.7 billion. EFH filed for bankruptcy protection in April 2014 after being saddled with debt in the largest leveraged buyout in US history.
Hellas Telecommunications Lawsuit Against Private Equity Giants
Chadbourne represents the UK liquidators of Hellas Telecommunications, a company that formerly owned one of the largest mobile phone operators in Greece. On behalf of the UK liquidators, we obtained recognition in New York, pursuant to Chapter 15 of the US Bankruptcy Code. After investigating multi billion-euro transactions, we are pursuing claims in New York bankruptcy court against private equity funds TPG and Apax alleging fraudulent conveyances and unjust enrichment.
Petrobras Indenture Trustee Representation
Chadbourne represents the Bank of New York Mellon, as indenture trustee, for the potential restructuring of US$50 billion of outstanding bonds of Petrobras, the Brazilian energy giant that became embroiled in a high-profile corruption scandal.
City of Detroit, MI Chapter 9
Chadbourne represented Assured Guaranty in its exposure of US$2.5 billion in the municipal restructuring of the largest and most complex Chapter 9 in US history. On behalf of Assured, Chadbourne took a leading role in representing the interests of financial creditors and was instrumental in defending the rights of bondholders under state law and in bankruptcy, through direct actions against Detroit and its emergency manager, objections to Detroit’s plan, intensive mediation and, ultimately, settlement. Detroit's plan of adjustment was confirmed on November 12, 2014.
Residential Capital Chapter 11 Examiner
Chadbourne represented former Chief Bankruptcy Judge (SDNY) Arthur Gonzalez as the court-appointed examiner to conduct the massive investigation in the Chapter 11 case of this mortgage lending unit of Ally Financial Inc. Chadbourne conducted a ten-month investigation and wrote a comprehensive 2,200-page report that facilitated a global settlement that provided US$2.1 billion to the estate and resolved disputes between creditors, the estate, the parent companies and numerous third parties.
OAS Finance Limited Chapter 15
Chadbourne represents the BVI provisional liquidators of this BVI corporation that raised financing for a Brazilian group of construction companies. We commenced a Chapter 15 case seeking recognition of the BVI proceeding which was hotly contested in the US Bankruptcy Court.
Howard Seife, global chair of the Firm’s bankruptcy and financial restructuring practice, has represented clients in reorganizations, both domestically and internationally, of retail, technology, energy, insurance, real estate, leasing, textiles, manufacturing, telecommunications and media...