Davis Polk & Wardwell LLP has a prestigious history in restructurings, including where it represents companies, investors and creditors in domestic and cross-border matters. It has extensive experience in court and out of court restructurings, liability management exercises, exchange offers, distressed M&A and bankruptcy litigation. It has worked on a series of recent headline and high-value company-side restructurings, including the Purdue Pharma bankruptcy. The firm has also taken prime roles in a number of recent retail bankruptcies and restructurings, energy and natural resource-related restructurings, and aviation sector restructurings. It is further noted for its expertise in dealing with bank failures. Donald Bernstein is chair of the restructuring group with over 40 years of experience in practice; he is also a leading authority in financial institution insolvencies. Marshall Huebner is co-head of the department and has advised on many of the landmark restructurings of recent times. Fellow co-head of the team, Damian Schaible is another leading figure, who has developed an outstanding reputation and record in representing creditor groups in large restructurings. Other prominent names in the team include Timothy Graulich, who heads the cross-border restructuring group, and is particularly experienced in Asia and Latin America matters. Brian Resnick is noted for liability management and distressed asset sales, while Elliot Moskowitz, Eli Vonnegut and Darren Klein are also prominent. All named individuals are based in New York.
Legal 500 Editorial commentary

Accolades

Client satisfaction

Key clients

  • Azul
  • Big Lots
  • Delta Air Lines
  • Digicel
  • Fisker Group
  • Grupo Aeroméxico
  • Purdue Pharma
  • Spirit Airlines
  • TPG Angelo Gordon

Work highlights

Advised Spirit Airlines in connection with entry into an RSA and negotiation of a prearranged Chapter 11 plan.
Advised Big Lots in connection with its Chapter 11 filing, $707.5m DIP financing and stalking horse APA.
Advised a group of lenders, including the lead left arranger and lead lender, and an ad hoc group of existing noteholders in connection with a $2.125bn comprehensive debt recapitalization transaction of Alkegen.

Lawyers

Hall of Fame

The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.

Donald Bernstein
Marshall Huebner

Leading partners

The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.

Darren Klein
Brian Resnick
Damian Schaible

Next Generation Partners

Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.

Natasha Tsiouris

Practice head

Marshall Huebner; Damian Schaible

Other key lawyers

Donald Bernstein; Timothy Graulich; Brian Resnick; Elliot Moskowitz; Eli Vonnegut; Darren Klein; Angela Libby; Natasha Tsiouris; David Schiff; Christian Fischer