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Timothy Graulich
Mr. Graulich is a partner in Davis Polk’s Restructuring Group. He has substantial experience in a broad range of domestic and international restructurings, including the representation of public and private companies, agent banks and lenders, acquirers and hedge funds in connection with pre-packaged and traditional bankruptcies, out-of-court workouts, DIP and exit financings, bankruptcy litigation and Section 363 sales. |
Work Highlights
Mr. Graulich was counsel to:
- Volkswagen, as the largest customer, in the worldwide restructuring of Takata
- Significant stakeholder with respect to Oi S.A.’s in-court restructuring in Brazil
- Digicel Group One Limited and its foreign representatives in connection with a Bermuda scheme of arrangement
- The Foreign Representative of ENNIA Caribe Holding N.V. and certain of its subsidiaries in connection with their chapter 15 proceedings
- Ballantyne Re plc and its foreign representative in connection with an Irish scheme of arrangement that successfully restructured over $1.6 billion of claims with over 98% credit support
- The foreign representative of Cryptopia Limited in connection with their chapter 15 proceedings
- Oro Negro Drilling Pte. Ltd. on the restructuring of $939.1 million of senior secured bonds
- Tonon Bioenergia S.A. and its subsidiaries in connection with judicial recovery proceedings in Brazil
- Embraport, a Brazilian port operator, in connection with its potential restructuring
- The largest creditor to USJ Açúcar e Álcool S.A. with respect to USJ’s debt restructuring and tender offer
- Odebrecht Oil & Gas on an in-court restructuring of $5 billion of corporate and project debt through an RJ in Brazil
- An ad hoc committee of creditors of Grupo Infinity in its RJ proceeding
- The indenture trustee working at the instruction of Majority Lenders in connection with the exercise of remedies against the Schahin Group
- Rank Group and its affiliates in connection with the restructuring of UCI Holdings International
- The prepetition first-lien lenders and proposed DIP lenders in the chapter 11 case of C&J Energy
- Mongolian Mining Corp. and its subsidiaries in connection with creditor negotiations and planning for potential cross-border insolvency proceedings in the Cayman Islands, Hong Kong, the United States or other jurisdictions
- The committee of second lien and DIP lenders to RCS Holdings
- The agent in connection with the $1.5 billion exit loan to LightSquared
- Comcast in connection with the involuntary bankruptcy of Houston Regional Sports Network, L.P.
- The joint administrators of Lehman Brothers International (Europe) in connection with more than $10 billion of claims against Lehman Brothers Inc. in the largest SIPC case in history
- The Foreign Representative of Elpida Memory, Inc. in the first-ever chapter 15 recognition of a Japanese reorganization case
- Citibank in connection with the litigation of the assumption of AAdvantage Program agreements
- The prepetition and DIP agent to Sbarro Inc.
- The co-lender in connection with the out-of-court restructuring of $2.2 billion of debt issued by Highland Hospitality
- Morgan Stanley in connection with the out-of-court restructuring of MS Resorts
- A leading financial institution in connection with various exposures to CIT Group, including as agent with respect to a $500 million exit letter of credit facility
- The agent in connection with the out-of-court restructurings of Georgia Gulf and Fountainebleu Miami
- Citibank, as agent, in Lyondell, including advising with regard to the largest private DIP financing ($8.5 billion) in U.S. history
- Silver Point Capital in connection with the backstop of a $355 million equity rights offering to finance Cooper-Standard Automotive’s emergence from chapter 11
- The agent for WCI Communities' DIP loan
- Credit Suisse, as agent, in Owens Corning, including advising with regard to substantive consolidation, the successful resolution of which resulted in a lender recovery of over 165% of par
- Star Tribune in its chapter 11 case
- Delta Air Lines in connection with litigation with Mesa Air Group
- Delta Air Lines in one of the largest and most successful chapter 11 restructurings in U.S. history
- Frontier Airlines in its chapter 11 case
- Among others, Adelphia Business Solutions, Acterna Corporation, Sunbeam Corporation and St. Vincent’s Medical Center in their respective chapter 11 cases
He has:
- Represented senior credit facility administrative agents in a number of other high-profile restructurings
- Represented asset purchasers and sellers in connection with in-court and out-of-court asset sales
- Worked on a number of general financing matters, representing borrowers, agent banks and creditors
Recognition
Mr. Graulich is consistently recognized for his work in the legal industry:
- Chambers USA – Bankruptcy/Restructuring (New York)
- IFLR1000 – Restructuring and Insolvency (US)
- Turnarounds & Workouts – Outstanding Restructuring Lawyer
- Super Lawyers – Bankruptcy (New York)
- Lawdragon – One of the 500 Leading Global Restructuring & Insolvency Lawyers
- BTI – Client Service All-Star
- American Lawyer Global Legal Awards – Global Finance Deal of the Year (Oi) | 2018
- IFLR Asia Awards – Asia Restructuring Deal of the Year (Mongolian Mining) | 2018
- The Global M&A Network Atlas Awards – Corporate Turnaround of the Year (CJ Energy) | 2017
- The Global M&A Network Atlas Awards – Industry Restructuring Turnaround of the Year (RCS Capital) | 2017
- The M&A Advisor Turnaround Awards – Chapter 11 Reorganization of the Year (RCS Capital) | 2017
- American Lawyer Global Legal Awards – Global Finance Deal of the Year (Elpida) | 2014
- Financial Times U.S. Innovative Lawyers – Highly Commended (Elpida) | 2013
Of Note
- Contributing Author, Collier Bankruptcy Practice Guide
- Contributing Author, The International Insolvency Review
- Author of numerous articles, including "Substantive Consolidation – A Post-Modern Trend," 14 Am. Bankr Inst. L. Rev. 1 (2006)
- INSOL Fellow Class, 2014-2015
- Co-Chair, ABI NYC Conference
- Vice Chair, IBA Insolvency Section’s Financial Institutions Insolvency Subcommittee
- Member, International Insolvency Institute
- Member, Latin American Regional Forum, International Bar Association
Professional History
- Partner, 2009-present
- Counsel, Davis Polk, 2006-2009
- Associate, Weil, Gotshal & Manges, 2001-2006
News
Articles and Books
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US – How Foreign is Too Foreign? Extraterritorial Limits on the Recovery of Fraudulent Transfers | Global Restructuring Review’s The Restructuring Review of the Americas 2019
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United States, Chapter 26 | The Insolvency Review, Fifth Edition, Law Business Research Ltd, 2017
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'Comi-Migration' in the Context of Chapter 15 of the US Bankruptcy Code, Chapter 1 | The Insolvency Review, Fourth Edition, Law Business Research Ltd, 2016