Browse By Last Name
Search:
Marshall S. Huebner
Partner
Mr. Huebner is co-head of Davis Polk’s Insolvency and Restructuring Group. He is widely recognized as one of the country’s leading 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.

Work Highlights

  • Lead counsel to the Federal Reserve Bank of New York and to the U.S. Department of the Treasury with respect to their $182 billion in multiple financings and 79.9% equity stake in the American International Group; AIG had over $1 trillion in assets, and the Federal Reserve and Treasury AIG financings were the largest ever extended to a corporate borrower
  • Lead U.S. counsel to the joint administrators and liquidators of Lehman Brothers International (Europe) and its U.K. Lehman affiliates, including in connection with the settlement of tens of billions of dollars of claims against Lehman’s U.S. entities 
  • Lead bankruptcy and restructuring counsel to Delta Air Lines, in one of the largest and most successful restructurings in U.S. history; 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 successfully resolving 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 Patriot Coal, Frontier Airlines, Pinnacle Airlines and The Star Tribune Company in their Chapter 11 proceedings
  • Lead counsel to Citibank on its $1 billion pre-purchase of AAdvantage Miles from American Airlines and in connection with American's Chapter 11 proceedings
  • Counsel to the DIP agent in Enron ($1.5 billion), Adelphia Communications ($1.5 billion), Federal Mogul ($1.1 billion), Kodak ($950 million), A&P ($800 million), NewPage ($600 million) and counsel to the Exit Financing agent in Federal Mogul ($3.5 billion)
  • Counsel to the agents or other major parties in numerous other cases, including Loral, Polaroid, Citation, Crown Paper, Ntelos 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 Bank of America Securities, Citibank, Credit Suisse, Goldman Sachs, J.P. Morgan and Morgan Stanley.

Recognition

  • Mr. Huebner has repeatedly been recognized as a leader in his field, including being named:
      • A leading lawyer in Law Business Research’s Who’s Who Legal–The International Who’s Who of Insolvency & Restructuring Lawyers
      • A leading bankruptcy lawyer in Best Lawyers in America 2006-2015
      • One of the Global Top 40 Restructuring & Turnaround Lawyers by the Global M&A Network 2014
      • “Dealmaker of the Year” by The American Lawyer in April 2009 for his lead role in AIG and April 2007 for his role on Delta Air Lines
      • An Outstanding Restructuring Lawyer by Turnarounds and Workouts 2008-2012 
      • A leading insolvency and restructuring lawyer by Euromoney’s Expert Guide to the World’s Leading Insolvency and Restructuring Lawyers 2009-2011
      • One of the “New York Area’s Best Lawyers” by American Lawyer Media's Best Lawyers in America 2012
      • One of the “500 Leading Lawyers in America” by Lawdragon 2011
      • A BTI Client Service All-Star
      • A leading lawyer in IFLR1000: The Guide to the World’s Leading Financial Law Firms 
      • An "Outstanding Bankruptcy Lawyer" (2010-2013) and "Top 100 New York Lawyer" (2010-2014) by Thomson Reuters’ Super Lawyers 
      • Named a "Deal Maker of the Year" (James River) - Finance Monthly 2014

  • He was also:
      • Ranked Band 1 in Chambers USA: Americas Leading Lawyers for Business and Chambers Global: The Worlds Leading Lawyers for Business
      • Selected by the Advisory Board of the K&A Restructuring Register as one of “America’s Top 100 Restructuring Professionals”

  • Mr. Huebner’s work as bankruptcy counsel for Frontier Airlines earned a “Highly Commended” ranking in the Financial Times’ “U.S. Innovative Lawyers 2010” special report, which cited his efforts as “critical in saving the airline from liquidation.”  

Of Note

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.

  • Author of numerous articles on bankruptcy law
  • Contributing Author, “Contested Valuation in Corporate Bankruptcy”
  • Contributing Editor, Collier Bankruptcy Practice Guide
  • Guest lecturer at Yale, Harvard, Chicago and Columbia Law Schools
  • Faculty, New York University Advanced Bankruptcy Workshop
  • Keynote Speaker, Corporate Counsel Institute, New York State Bar Association

Current Memberships

  • Board of Advisors, Yale Law School Center for the Study of Corporate Law
  • National Bankruptcy Conference
  • American College of Bankruptcy

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

Contact

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

Bar Admissions

  • State of New York
  • U.S. Supreme Court
  • U.S. Court of Appeals, Second Circuit
  • U.S. Court of Appeals, Sixth 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
    • Senior Editor, Yale Law Journal