Huebner, Marshall S. | Lawyers | Davis Polk & Wardwell LLP

Marshall S. Huebner

Partner

marshall.huebner@davispolk.com

Mr. Huebner is co-head of our Insolvency and Restructuring Group. He is widely recognized as one of the country’s preeminent practitioners, and is one of only five U.S. lawyers to have been twice-named a “Dealmaker of the Year” by The American Lawyer. He routinely represents both financial institutions and companies in major restructurings and bankruptcies, and has advised on several of the largest and most complex of such matters yet done.

Contact

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New York
450 Lexington Avenue
New York, NY 10017
P: 212-450-4099
F: 212-701-5099

Related Practices

Bar Admissions

State of New York
U.S. Supreme Court
U.S. Court of Appeals, Second Circuit
U.S. District Court, E.D. Michigan
U.S. District Court, E.D. New York
U.S. District Court, S.D. New York

Education

A.B., Princeton University, 1988
- Fulbright and Rotary Scholarships
- magna cum laude
J.D., Yale Law School, 1993
- Ford Foundation Fellowship

Work Highlights

Lead counsel to the Federal Reserve Bank of New York and to the United States Department of the Treasury with respect to their $150 billion in multiple financings and 79.9% equity stake in the American International Group; AIG has over $1 trillion in assets, and the Federal Reserve and Treasury AIG financings are the largest ever extended to a corporate borrower
Lead bankruptcy and restructuring counsel to Delta Air Lines, in one of the largest and most successful restructurings in U.S. history; Davis Polk assisted Delta in, among other things, securing the then-largest DIP financing, successfully defending against a $10 billion hostile takeover attempt, and expeditiously emerging from Chapter 11 with one of the largest equity capitalizations on record
Lead counsel to Citibank, as bank agent, in Lyondell, including advising with respect to the largest private DIP financing ($8.5 billion) in U.S. history and a $23 billion fraudulent transfer litigation
Counsel to the Ford Motor Company in connection with its $10 billion balance sheet restructuring and various developments with respect to the U.S. auto industry
Lead counsel to Frontier Airlines and The Star Tribune Company in their Chapter 11 proceedings
Counsel to the DIP agent in Enron ($1.5 billion), Adelphia Communications ($1.5 billion) and Federal Mogul ($3.5 billion)
Lead counsel to Citibank on its $1 billion pre-purchase of AAdvantage Miles from American Airlines
Counsel to the agents or other major parties in numerous other cases, including Loral, Polaroid, Citation, Crown Paper, Ntelos, Collins & Aikman and Magellan Health Services

Mr. Huebner has also routinely advised purchasers, companies and boards of directors in many non-public distressed matters, and provides risk management and bankruptcy advice on derivatives products and other complex transactions to clients such as Morgan Stanley, JPMorgan Chase, Credit Suisse and Bank of America Securities.

Recognition

Mr. Huebner has repeatedly been recognized as a leader in his field, including being:

Named “Dealmaker of the Year” by The American Lawyer in April 2007 for his lead role on Delta Air Lines and April 2009 for AIG
Ranked in the 1st tier in Chambers USA: America’s Leading Lawyers for Business and Chambers Global: The World’s Leading Lawyers for Business
Named an Outstanding Restructuring Lawyer of 2008 and 2009 by Turnarounds and Workouts
Named a leading insolvency and restructuring lawyer by Euromoney’s Expert Guide to the World’s Leading Insolvency and Restructuring Lawyers
Selected by the Advisory Board of the K&A Restructuring Register as one of “America’s Top 100 Restructuring Professionals”

Of Note

On December 16, 2009, Mr. Huebner testified by invitation before Congress on how to restructure the Bankruptcy Code to strike a better balance between debtors' needs for reorganization tools and the needs of and issues facing employees of companies in Chapter 11. The hearing was held before the House Judiciary Subcommittee on Commercial and Administrative Law.

Presently writing Restructuring the Troubled Company, a full-length book that will be published by the Oxford University Press in 2010
Author of numerous articles on bankruptcy law
Contributing Editor, Collier Bankruptcy Practice Guide
Guest lecturer at Yale Law School and Columbia Law School
Faculty, New York University Advanced Bankruptcy Workshop
Key Note Speaker, Third Corporate Counsel Institute, New York State Bar Association

Current Memberships

Member, Board of Advisors, Yale Law School Center for the Study of Corporate Law
Member, National Bankruptcy Conference

Past Membership

Chair, Courts Subcommittee of the Committee on Bankruptcy and Corporate Reorganization, New York City Bar

Professional History

Partner, 2002-present
Associate, 1999-2002

Law Clerk, Hon. Pierre N. Leval, U.S. Court of Appeals, Second Circuit 1993-1994

News

Huebner Named Outstanding Restructuring Lawyer

Davis Polk Partner Testifies Before Congress on Airline Bankruptcies

Huebner Quoted in Financial Times

Hard Calls Helped Pull Frontier from Bankruptcy

Davis Polk Advises Star Tribune on the Confirmation of its Chapter 11 Plan of Reorganization

Davis Polk Advises Frontier on the Confirmation of its Chapter 11 Plan of Reorganization

Davis Polk Advises Frontier Airlines in Auction to Republic Airways Holdings, Inc.

Davis Polk Featured in The American Lawyer

Davis Polk Advises Frontier Airlines on Its Plan of Reorganization and Acquisition By Republic Airways

Davis Polk's Marshall Huebner and George Bason, Jr. Named "Dealmakers of the Year" by The American Lawyer

Davis Polk Advises Government on Transactions with AIG

Lyondell Chemical Company Secures $8.115 Billion in DIP Financing

Frontier Airlines Secures $75 million in DIP Financing

Tekni-Plex, Inc. Restructuring

Publications

Insolvency and Restructuring Update
Significant Decision in Six Flags Chapter 11 Case Declining to Apply Disclosure Requirements of Bankruptcy Rule 2019 to an Informal Committee of Noteholders

Insolvency and Restructuring Update
Davis Polk Partner Testifies Before Congress on Airline Bankruptcies

Insolvency and Restructuring Update
Important Recent Decision Upholding Waivers of Rights by Second Lien Lenders in an Intercreditor Agreement

Insolvency and Restructuring Update
Client Newsletter

Valuation in Chapter 11: Overview and Tools for Consensual Resolution | The International Comparative Legal Guide to: Corporate Recovery & Insolvency 2009

As the Wheel Turns: New Dynamics in the Coming Restructuring Cycle | The Americas Restructuring and Insolvency Guide 2008/2009

May 2008

The Fiduciary Duties of Directors of Troubled U.S. Companies: Emerging Clarity | The International Comparative Legal Guide to: Corporate Recovery & Insolvency 2008

April 2005

Debtor-in-Possession Financing | The RMA Journal

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