Jenner & Block

Restructuring and Bankruptcy

Representative Engagements

Our lawyers bring together both litigation and transactional experience that has been applied to the most complex financial restructurings, bankruptcies and related litigation.  Many of the matters we handle have been widely recognized as being on the cutting edge of bankruptcy issues, including several matters that have reached the United States Supreme Court.  Some of our high-profile matters are highlighted below.

  • Representation of the Examiner in the Lehman Brothers Holdings, Inc. bankruptcy proceedings, producing the 2,200-page “Valukas Report,” applauded for its clarity and usefulness.
  • Representation of hedge funds that hold $1+ billion of residential mortgage-backed securities in challenging the rehabilitation plan of Ambac Assurance Corporation, including taking actions permitting the holders to realize substantial recoveries on their investments.
  • Representation of the Section 1114 Committee of Retired Employees of American Airlines, Inc. in successfully opposing the airline’s attempts to obtain a judicial declaration that retiree benefits totaling $1.3 billion were not vested.
  • Representation of the co-owner of coal-fired power plants that were the subject of complex sale-leaseback transactions with Edison Mission Energy and Midwest Generation during the course of their Chapter 11 cases, including successful negotiations of lease modifications and complete cure of defaults.
  • Representation of the bankruptcy trustee of Emerald Casino in U.S. Bankruptcy Court and U.S. District Court litigation against the casino’s former directors and officers.  The district court directed the defendants to pay $272 million in damages arising from the casino’s loss of its gaming license.
  • A member of the firm serves as, and the firm represents, the chapter 11 trustee of international diamond wholesaler Firestar Diamond and its affiliates in their chapter 11 cases.  The representation includes liquidation of the debtors’ extensive intellectual property portfolio and related inventory and the investigation and pursuit of causes of action stemming from the debtors’ involvement in aglobal fraud scheme.
  • Representation of the bankruptcy trustee, Ronald R. Peterson, of Lancelot Investors Fund and its affiliates in the $1.8 billion liquidation proceeding of the largest feeder fund to the Petters Ponzi scheme in Minnesota.
  • Representation of CME Group Inc. in connection with the SIPC liquidation proceeding of MF Global, Inc., including organizing an unprecedented transfer of under-margined commodity positions and billions of dollars in related customer property from MF Global to other firms.
  • Representation of the Official Committee of Retired Employees of the Commonwealth of Puerto Rico in connection with the Commonwealth’s current formal restructuring proceedings.
  • Representation of the National Futures Association, the self-regulatory reorganization for Peregrine Financial Group Inc., in connection with its commodity broker liquidation proceeding.
  • A member of the firm served as, and the firm represented, the chapter 11 examiner appointed in the bankruptcy case of Transtar and its affiliates, the largest distributor of aftermarket automotive transmission parts in the United States. The examination focused upon alleged conflicts relating to pre-petition negotiations and the bankruptcy plan proposed by the debtors.
  • Representation of Wellness International Network Limited before the U.S. Supreme Court in a high-profile appeal involving whether the bankruptcy courts have the constitutional authority to enter final decisions in certain cases.