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Squire Patton Boggs

Stephen D Lerner 

Work +1 513 361 1220
Squire Patton Boggs

Work Department

Restructuring & Insolvency




United States: Finance

Restructuring (including bankruptcy): corporate

Within: Restructuring (including bankruptcy): corporate

New York-based Stephen Lerner leads the team at Squire Patton Boggs, known for complex, cross-border bankruptcies and related litigation. The experienced practice was boosted by the additions in the Washington DC office of Chris Giaimo, who focuses on creditors' rights and litigation, and specialist in corporate trust and financial restructuring Jeff Rothleder; both arrived from Clark Hill PLC. The firm acted for an independent regional gas company headquartered in the United Arab Emirates, Dana Gas PJSC, in an issue involving the restructuring of a $700m Islamic financing vehicle called a mudarabah sukuk, which resulted in litigation seeking to declare it unlawful and unenforceable under the laws of the UAE; the matter was eventually settled as part of a successful restructuring completed in 2018. In another highlight, the group is advising the board of directors of FirstEnergy in the out-of-court restructuring of FirstEnergy Solutions and its subsidiaries; the company filed for Chapter 11 protection in the Northern District of Ohio in March 2018 and the firm assists the board on all related matters.

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Restructuring (including bankruptcy): municipal

Within: Restructuring (including bankruptcy): municipal

The municipal practice at Squire Patton Boggs covers a broad range of matters, with notable experience in education and healthcare. In a highlight, the practice is representing Syncora Guarantee in connection with the Chapter 9 restructuring and potential sale of a hospital by the debtor in the Tulare Health Care District. The team also acted for Ambac Assurance Corporation in the Chapter 9 proceedings of West Contra Costa Hospital District, resulting in a consensual restructuring plan and enforcement of rights under the insurance policy. Cincinnati-based Stephen Lerner is global practice head and leads a team that also includes Karol Denniston, who is active in the high-profile Puerto Rico COFINA-PROMESA Title III restructuring proceedings, working from the firm’s San Francisco office.

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