Experience

• Restructuring and Distressed Investment Litigation

  • Blackstone Tactical Opportunities, as co-sponsor of TriMark, with respect to TriMark’s 2020 “uptiering” transaction. Our team obtained dismissal of the nonparticipating lenders’ claims against Blackstone in New York state court litigation.
  • Canada Pension Plan Investment Board, as co-sponsor with Ares Management of luxury retailer Neiman Marcus, in its heavily contested comprehensive out-of-court debt restructuring involving the issuance of $550 million in new second lien notes. and in Neiman’s successful Chapter 11 reorganization from which it recently emerged, slashing approximately $4 billion of its $5.5 billion debt. Debevoise was named Chapter 11 Reorganization of the Year (over $1B) by The M&A Advisor at its 15th Annual Turnaround Awards for this representation.
  • HarbourVest Partners, a significant creditor in the contentious Chapter 11 case of investment fund Highland Capital, in the U.S. Bankruptcy Court for the Northern District of Texas, in reaching and defending over objections a favorable resolution of HarbourVest’s litigation claims against the debtors.
  • McKinsey & Company in multiple bankruptcy proceedings and a civil RICO action relating to its disclosures as Chapter 11 debtor advisor.
  • D. E. Shaw and Madison Dearborn Partners, as holders of exchangeable notes and other claims against SunEdison in SunEdison’s Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York, and in obtaining dismissal of a $300 million avoidance action seeking to claw back transfers made as part of a complex transaction related to the $2.4 billion sale of a renewable energy company.
  • La Paloma Generating Company, a California-based power producer, in its $524 million Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, a plan for which was successfully confirmed following a disputed confirmation hearing.
  • A private equity fund in a variety of cross-border disputes arising from the collapse of the Abraaj Group, previously the largest private equity firm in the Middle East, including handling a 3 month fraud trial in the Grand Court of the Cayman Islands.
  • Former directors and officers of High Ridge Brands in post-bankruptcy litigation trustee litigation, asserting alleged claims for breach of fiduciary duty, fraud, and avoidance actions arising out of a pre-bankruptcy Notes offering.
  • JC Flowers in an adversary proceeding in the MF Global bankruptcy regarding dividends paid in connection with its preferred stock.
  • American Airlines, as special aircraft counsel, in winning approval in bankruptcy court and the United States Court of Appeals for the Second Circuit to repay $1.3 billion in debt without payment of a make-whole premium, over the objection of the indenture trustees.
  • Founder and former directors and officers of global financial services firm in U.S. subsidiary’s Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York and in subsequent post-bankruptcy litigation trustee claims and litigation asserting claims for breach of fiduciary duty and avoidance actions arising out of a pre-bankruptcy transaction.
  • Various funds sued in “clawback” lawsuits following the leveraged buyout of Tribune Company.
  • Standard General in American Apparel’s Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware.
  • Lazard in the development and defense of its valuation opinions in numerous recent Chapter 11 cases.
  • Various funds in the collapse of Bernard L. Madoff Investment Securities and Fairfield Sentry Limited, Fairfield Sigma Limited and Fairfield Lambda Limited.
  • Gogo, the leading inflight Internet company, in the successful sale of its commercial aviation business to Intelsat, which was in Chapter 11 at the time of the transaction.
  • Big Apple Circus, as pro bono client, in litigation arising during the course of its Chapter 11 proceedings.

• Antitrust

  • An individual defendant in In re Generic Pharmaceuticals Pricing Antitrust Litigation.
  • Clayton, Dubilier & Rice in its strategic partnership with Elevance Health, which will bring together certain care delivery and enablement assets of Elevance’s Carelon Health and CD&R portfolio companies, apree health and Millennium Physician Group.
  • The George Robert Rawlings Trust in the sale of the Rawlings Companies to New Mountain Capital Group L.P.
  • Cornerstone Building Brands in its acquisition of Harvey, a manufacturer of high performing windows and doors.
  • Discovery, Inc. before the Department of Justice in its $14.6 billion acquisition of Scripps Networks Interactive.
  • TPG Growth in its takeover of the existing assets of the Abraaj Group’s $1 billion Global Healthcare Fund. The deal saw Debevoise win the Specialist Deal Legal Advisor category at the Private Equity Africa Awards.
  • Numerous clients in obtaining antitrust approval of strategic transactions.
  • Beacon Health Strategies before the Federal Trade Commission in the antitrust aspects of a managed behavioral healthcare organization’s proposed acquisition of Value Options, Inc.
  • International Paper in the antitrust aspects of its $4.3 billion acquisition of Temple-Inland.
  • NCI Building Systems in the antitrust aspects of its acquisition of Metl-Span, a leading insulated panel supplier.
  • Clayton, Dubilier & Rice and Brand Energy and Infrastructure Services before the Federal Trade Commission in the antitrust aspects of the merger of Brand Energy and Safway Group, forming the leading global industrial service business with over $5 billion in revenue.
  • Greater Media in in the antitrust aspects of its $240 million sale to Beasley Broadcast Group.
  • Kelso & Company and Stone Point Capital before the Federal Trade Commission in the antitrust aspects of their sale of pharmacy benefits manager Helios to OptumRx, the pharmacy benefits manager unit of UnitedHealth Group.
  • Rank Group before the Federal Trade Commission in the antitrust aspects of its $980 million acquisition of UCI International, a North American automotive products business, and its subsequent $950 million acquisition of Honeywell’s automotive consumer products group.
  • StanCorp Financial Group in its acquisition of the Life & Disability business from Elevance Health.
  • Mitsui in the formation of the Blue Water Alliance, a joint venture in partnership with Olin Corporation.
  • Resolution Life in its strategic partnership with Blackstone, including a $500 million strategic investment, for its life insurance and annuity consolidation business.
  • Arcesium in a trade secret and breach of contract litigation dispute brought by SS&C Technologies Holdings, Inc. and its affiliate Advent Software.
  • Sun Life in its $2.475 billion acquisition of DentaQuest.
  • Plaintiff in federal court of Kansas asserting antitrust claims of tying and bundling against major distributors of medical supplies.
  • Defendant in federal action in New York regarding purchasers of freight forwarding services against domestic and international freight forwarding companies, alleging conspiracy to impose surcharges in violation of Sherman Act.
  • Defendants in federal and state court cases alleging price fixing, including the TIBOR Antitrust Litigation and the SIBOR Antitrust Litigation.
  • TPG Capital and Welsh, Carson, Anderson & Stowe, with Humana, before the Federal Trade Commission in their $1.4 billion acquisition of Curo Health Services.
  • Counseling clients in various other antitrust issues, including compliance with pricing and distribution policies, information exchange and gun-jumping issues, and well as the implementation of corporate antitrust compliance programs.

• Other Commercial Litigation

  • American Airlines and its insurance carrier in all litigation arising out of the September 11, 2001 terrorist attacks, including the crash of American Airlines Flight 11 into One World Trade Center.
  • Prudential Financial and certain present and former officers and directors, in securities class action and derivative lawsuits arising from the company's practices with regard to unclaimed life insurance benefits.
  • Verizon New York in successful litigation brought against certain Long Island municipalities defending Verizon’s ability to enter into agreements regarding the attachment of lechis to its utility poles.