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Damian S. Schaible
Partner

Mr. Schaible is a partner in Davis Polk’s Insolvency and 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 currently serves 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:

  • 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
  • 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
  • Strategic Growth Bancorp in connection with its acquisition and recapitalization of Mile High Banks through a chapter 11 filing of Mile High’s parent
  • The agent for the prepetition lenders in connection with Affiliated Media, Inc.’s restructuring and prepackaged chapter 11 case; the lenders were owed approximately $590 million
  • Representing numerous major financial institutions in connection with Dodd-Frank Resolution Planning
  • Regularly advises banks and potential investors in connection with bank holding company restructurings

Recognition

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

  • Chambers USA – “Leading Lawyer”
  • IFLR1000  – "Leading Lawyer"
  • Legal 500 U.S. – Recommended in Corporate Restructuring
  • Super Lawyers
    • "Outstanding Bankruptcy Lawyer"
    • "Rising Star," 2012
  • The M&A Advisor – Named one of the “40 Under 40“
  • Law360 – "Rising Star in Bankruptcy," 2014 
  • New York Law Journal – “Rising Star,” 2013
  • Turnarounds & Workouts – "Outstanding Restructuring Lawyer," 2015" and “Outstanding Young Restructuring Lawyer,” 2010

Of Note

  • Contributing Author, Collier on Bankruptcy
  • Contributing Author, Collier Bankruptcy Practice Guide
Memberships
  • Treasurer and Executive Committee Member, New York City Bar Association
  • Chapter 11 Lawyers’ Advisory Committee for the Eastern District of New York Bankruptcy Court
  • Executive Committee of the Board of Directors, American Bankruptcy Institute
  • Fellow, American Bar Foundation
  • Board of Directors, Lighthouse International Film Festival
  • Board of Directors, A House on Beekman
  • Member, Council on Foreign Relations

Professional History

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

Contact

  • 450 Lexington Avenue
    New York, NY
    10017
    P: +1 212 450 4580
    F: +1 212 701 5580

Bar Admissions

  • State of New York
  • U.S. Court of Appeals, Second Circuit
  • U.S. Court of Appeals, Sixth Circuit
  • U.S. District Court, Colorado
  • 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