Damian S. Schaible
  1. Partner

Mr. Schaible is co-head of Davis Polk’s Restructuring Group. He has substantial experience in a wide range of corporate restructurings and bankruptcies, representing debtors, creditors, banks, hedge funds, asset purchasers and other strategic parties in connection with pre-packaged and traditional bankruptcies, out-of-court workouts, DIP and exit financings, bankruptcy litigation, Section 363 sales and liability management transactions. 

Mr. Schaible has served on the Executive Committee of the Board of Directors of the American Bankruptcy Institute and on the Executive Committee of the New York City Bar Association as its Treasurer.

Work Highlights

Counsel to:

  • A leading financial institution in connection with the chapter 11 cases of Stearns Holdings, LLC and its affiliates
  • Ad hoc group of lenders in connection with the chapter 11 restructuring of Fusion Connect, Inc. and its affiliates
  • Ad hoc group of secured noteholders in connection with the chapter 11 restructuring of Bristow Group Inc.
  • Ad hoc group of secured noteholders in connection with the chapter 11 cases of Cloud Peak Energy Inc. and its affiliates 
  • Ad hoc group of lenders in connection with the chapter 11 restructuring of CTI Foods and its affiliates
  • Ad hoc group of Ultra Petroleum Corp. noteholders in connection with a private notes exchange
  • Ad hoc group of GenOn Energy Inc. noteholders in connection with GenOn’s chapter 11 restructuring and M&A process
  • Ad hoc group of TLB lenders and DIP lenders in the chapter 11 cases of Philadelphia Energy and its affiliates
  • Ad hoc group of Term Lenders and DIP lenders in the chapter 11 cases of the Expro Group
  • Ad hoc group of lenders in connection with the chapter 11 restructuring of Fieldwood Energy and its affiliates
  • The loan agent, working with a steering committee of lenders, in connection with the chapter 11 restructuring of JG Wentworth
  • The loan agent, working with a steering committee of lenders, in connection with a restructuring of Harvey Gulf International Marine
  • Citibank as administrative agent for Peabody’s prepetition first lien credit agreement and DIP credit facility in connection with Peabody’s chapter 11 restructuring
  • Citibank as administrative agent for Avaya’s prepetition credit facility and $725 million DIP credit facility in connection with Avaya’s chapter 11 restructuring
  • The secured lender steering committee in connection with C&J Energy’s $1.75 billion restructuring and its DIP credit facility
  • An ad-hoc group of noteholders and the plan sponsors in connection with Tervita Corporation’s plan of arrangement and chapter 15 restructuring
  • The administrative agent for Pacific Exploration & Production Corp.’s $1 billion revolver in connection with Pacific’s restructuring, which included a Canadian Companies' Creditors Arrangement Act (“CCAA”) case and a Chapter 15 case
  • The note purchasers, exchanging noteholders and lenders in connection with a $400 million debt recapitalization of Venoco, Inc., consisting of new first- and second-lien notes and a new secured term loan, and the secured lenders in connection with Venoco’s chapter 11 restructuring
  • Ad hoc group of second lien noteholders in connection with Sandridge Energy’s restructuring and pre-arranged chapter 11 case
  • The administrative agent for Connacher Oil and Gas Limited’s first-lien credit facility in connection with Connacher’s restructuring, including implementation of a Plan of Arrangement under the Canada Business Corporations Act
  • The administrative agent for Enduro Resource Partners’ reserve-based loan
  • Tonon Bioenergia S.A. in connection with its exchange of approximately US$300 million 9.250% senior notes for new step-up senior notes
  • Lenders in connection with a portion of a $415 million new financing for Key Energy Services, which replaced an existing $400 million senior credit facility, and the administrative agent and the secured lenders in connection with a possible restructuring of Key Energy’s capital structure
  • Ad hoc group of term lenders and DIP lenders and the term loan administrative agent in connection with the restructuring of Essar Steel Algoma, including through a CCAA proceeding and a chapter 15 case
  • Citibank, N.A. as administrative agent and collateral agent, and Citigroup Global Markets Inc. as sole lead arranger and bookrunner, for $692 million of debtor-in-possession credit facilities for Alpha Natural Resources, Inc. and certain of its affiliates and Citicorp North America, Inc. as the agent for the debtors’ prepetition credit facilities
  • The "First Out" prepetition lenders and DIP lenders in connection with the RadioShack chapter 11 cases
  • Patriot Coal Corporation and its affiliates in connection with their chapter 11 cases
  • Pinnacle Airlines and its affiliates in connection with their chapter 11 cases
  • Frontier Airlines in its chapter 11 restructuring
  • Delta Air Lines in its chapter 11 restructuring
  • Capital Z Partners as an investor in the $175 million recapitalization of Anchor BanCorp Wisconsin Inc. through a chapter 11 filing of its parent
  • J.P. Morgan as
    • Agent for, and lender under, the approximately $3.9 billion pre-petition senior secured credit facility in the chapter 11 cases of Cengage Learning, Inc. and certain of its affiliates
    • Agent and arranger in connection with a $500 million debtor-in-possession financing for Exide Technologies in Exide’s chapter 11 case
    • Agent for the prepetition senior lenders in the successful Chapter 11 cases of The Tribune Company, where the lenders were owed more than $8.5 billion and received more than 98% of the stock of reorganized Tribune, in addition to cash distributions
    • Agent and arranger in connection with a $600 million debtor-in-possession financing for NewPage Corporation in NewPage’s chapter 11 cases
    • Agent for a $1.855 billion senior credit facility in connection with C-BASS’s out-of-court restructuring and chapter 11 cases
  • Citibank as agent and lender in connection with the potential restructuring and the successful refinancing of a $160 million senior secured credit facility for Oxford Mining Company, LLC
  • Hon. Warren Winkler, Chief Justice of Ontario, as mediator in the bankruptcy proceedings of Nortel Networks Inc. and its affiliates

Recognition

Mr. Schaible is recognized as a leading restructuring lawyer in various industry publications:

  • Chambers USA – Bankruptcy/Restructuring (New York)
  • IFLR1000  – Restructuring and Insolvency (US)
  • Legal 500 U.S. – Restructuring (including Bankruptcy (US)
  • Super Lawyers –  Bankruptcy (New York)
  • Who’s Who Legal – Restructuring & Insolvency
  • Law360 – Energy MVP of the Year | 2017; Rising Star | 2014 
  • Turnarounds & Workouts – Outstanding Restructuring Lawyer |  2015
  • New York Law Journal – Rising Star | 2013
  • The M&A Advisor – 40 Under 40 | 2012
  • The M&A Advisor Turnaround Awards
    • Restructuring of the Year (Fieldwood Energy) | 2018
    • Energy Deal of the Year (Venoco) | 2017
    • Sec. 363 Sale of the Year (Alpha Natural Resources) | 2017
  • The Global M&A Network Atlas Awards
    • Chapter 11 Restructuring of the Year (Peabody) | 2018
    • Food & Beverage Restructuring of the Year (TerraVia) | 2018
    • Financial Services Restructuring of the Year (J.G. Wentworth) | 2018
    • Cross-Border Turnaround of the Year (Pacific Exploration & Production) | 2017
    • Corporate Turnaround of the Year (CJ Energy) | 2017
    • Chapter 11 Restructuring Turnaround of the Year (Alpha Natural Resources) | 2017
    • Turnaround of the Year (Tervita) | 2017

Of Note

  • Contributing Author, Collier on Bankruptcy
  • Contributing Author, Collier Bankruptcy Practice Guide
  • Eagle Scout
Memberships
  • Fellow, American Bar Foundation
  • Board of Directors, Boy Scouts of America’s Greater New York Councils
  • Board of Directors, Lighthouse International Film Festival
  • Board of Directors, A House on Beekman

Professional History

  • Partner, 2009-present
  • Associate, 2002-2009
  • Law Clerk, Hon. Danny J. Boggs, U.S. Court of Appeals, Sixth Circuit, 2001-2002

Bar Admissions

  • State of New York
  • 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
  • U.S. District Court, W.D. Wisconsin

Education

  • B.A., Political Science, College of the Holy Cross, 1998
    • magna cum laude
    • Phi Beta Kappa
  • J.D., New York University School of Law, 2001
    • magna cum laude
    • Order of the Coif
    • Notes Editor, New York University Law Review