We are the firm of choice for clients who understand the convergence in recent years of corporate insolvency with M&A and the capital and debt trading markets, as well as the complex backdrop of multi-party litigation against which these disciplines must operate in the insolvency arena. Our insolvency lawyers are adept in navigating this increasingly complex environment and finding sophisticated consensual solutions to seemingly intractable problems.

Numerous lawyers in other parts of Davis Polk’s Corporate and Litigation Departments regularly are called upon to become involved in the firm’s insolvency matters. Unlike any other firm, we bring together in a single integrated product deep resources in insolvency, credit transactions and litigation, as well as recognized leadership in capital markets, M&A, tax, labor, employee benefits, products liability, derivatives, asset management and environmental law.

• Chair of the Committee on Bankruptcy and Corporate Reorganization of the New York City Bar Association.
  
  
• Co-chair of the TriBar Opinion Committee. Co-reporter for the TriBar Opinion Committee's Special Report, "Opinions in the Bankruptcy Context."
  
  
• Founding director of the International Insolvency Institute.
  
  
• Member of INSOL International; co-chair of the G-36 Committee.
  
  
• Member and director of the American College of Bankruptcy.
  
  
• Member of the Official U.S. Delegation to the Insolvency Working Group of the United Nations Commission on International Trade Law (UNCITRAL).
  
  
• Member of the board of editors and a contributor to Collier on Bankruptcy.
  
  
• Contributing editor for the Collier Bankruptcy practice guide.
  
  
• Teachers at various law schools, including Yale, Columbia and New York University.

• Lawyers in our group are regularly listed among the very best bankruptcy practitioners across all of the major law firm guides, including:
  
  
  
  • Chambers USA and Chambers Global
    
    
    
  • Legal Media Group’s The Best of the Best
    
    
    
  • Law Business Research’s Who’s Who Legal—The International Who’s Who of Insolvency and Restructuring Lawyers
    
    
    
  • Euromoney’s Guide to the World’s Leading Insolvency and Restructuring Lawyers
    
    
    
  • PLC’s Cross-Border Restructuring & Insolvency Handbook

• We served as lead bankruptcy counsel to Frontier Airlines Holdings and its subsidiaries Frontier Airlines and Lynx Aviation in connection with their Chapter 11 reorganization proceedings, including drafting, negotiating and gaining confirmation of a plan of reorganization in which Republic Airways Holdings purchased 100% of the stock of reorganized Frontier Holdings for $108.75 million.
  
  
• We advised the Federal Reserve Bank of New York and the U.S. Department of the Treasury on a series of more than $180 billion in unprecedented securities and loan transactions for AIG.
  
  
• We advised HeidelbergCement, a Heidelberg, Germany-based building materials company, in connection with U.S. law aspects of the refinancing of its credit facilities. The refinancing package included a €8.74 billion syndicated multi-currency term and revolving facilities agreement incorporating a euro swingline facility and a US$250 million syndicated revolving letter of guarantee facility agreement.
  
  
• We advised Castle HoldCo 4, Ltd., the parent company of Countrywide plc, a U.K. residential estate agency, on a restructuring of certain of its debt obligations under schemes of arrangement implemented under English law and Cayman law.
  
  
• We advised Bank of America in connection with the restructuring of two secured, syndicated credit facilities and four property-level facilities, and the formation of a secured, working-capital credit facility, totaling more than $2.6 billion in principal amount, which were provided to U.S. affiliates of Centro Properties, an Australian commercial real estate company, in connection with the work-out and restructuring of the Centro Properties group, which included the separation of the U.S. facilities from the Australian facilities.
  
  
• We are advising Citigroup on its realignment into two businesses, Citicorp and Citi Holdings.
  
  
• We are advising Thomson, a French provider of solutions for the creation, management, delivery and access of video for the communication, media and entertainment industries, in its effort to improve its balance sheet and implement its strategic framework.
  
  
• We advised Quadrangle Group, a global private investment firm, in connection with the restructuring of its portfolio company, Alpha Media Group, a New York-based multimedia group that includes Maxim and Blender magazines and Maxim digital.
  
  
• We advised JPMorgan Chase Bank as administrative agent under Delphi Corporation’s debtor-in-possession (DIP) financing facility, in connection with a credit bid of $3.48 billion of DIP obligations for certain of Delphi’s assets on behalf of Delphi’s DIP lenders. Delphi is an international automotive parts supplier based in Troy, Michigan, and a debtor in Chapter 11 proceedings pending before Judge Robert Drain in the U.S. Bankruptcy Court for the Southern District of New York.
  
  
• We represented Bank of America, as administrative agent and collateral agent, for an out-of-court debt restructuring of National Amusements, a privately-held media and entertainment company, involving $1.7 billion of previously-unsecured debt, including $750 million of bank debt.
  
  
• We advised 23 financial institution counterparties holding credit default swap and financial guarantee exposure to monoline insurer Syncora Guarantee in connection with a comprehensive restructuring of credit default swap and financial guarantee obligations aggregating over $160 billion to remediate the Syncora’s policyholders’ surplus deficit. The transactions effectively commuted or restructured all of Syncora's $56 billion of CDS exposure and restructured or commuted in aggregate approximately $110 billion of par bonds insured.