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Damian S. Schaible
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. |
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 Global – USA: Bankruptcy/Restructuring
- Chambers USA – Bankruptcy/Restructuring (Nationwide)
- 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
- Lawdragon – One of the 500 Leading Global Restructuring & Insolvency Lawyers
- Law360 – Energy MVP of the Year | 2017; Rising Star | 2014
- Turnarounds & Workouts – Outstanding Restructuring Lawyer | 2020, 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
- Member, U.S. Judicial Conference Advisory Committee on Bankruptcy Rules
- Member, Southern District of Texas Complex Case Committee
- 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
News
Articles and Books
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ABI Commission Chapter 11 Report: Implications for Secured Creditors | ABF Journal, March 2015
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The International Insolvency Review | Law Business Research Ltd., 2014
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The Rise of Plan Mediation Benefits and Pitfalls | American Bankruptcy Institute Journal, Vol. XXXIII, No. 8, August 2014