The American Lawyer Names John Rapisardi a “Dealmaker of the Year”
March 28, 2022
FOR IMMEDIATE RELEASE
NEW YORK—March 28, 2022—The American Lawyer has named O’Melveny Global Restructuring Chair John Rapisardi to its prestigious 2022 “Dealmakers of the Year” list.
The exclusive awards honor the lawyers who helped “clients complete industry-altering mergers, acquisitions, IPOs, spinoffs and more” over the prior year.
Rapisardi was honored for his work representing the Commonwealth of Puerto Rico in the largest municipal restructuring in U.S. history, a deal that involved US$72 billion in debt and US$45 billion in unfunded pension liabilities. Puerto Rico’s bankruptcy followed multiple catastrophes including devastating hurricanes and earthquakes as well as multiple leadership transitions.
“But as the island’s creditors and the oversight board managing its budget through the recovery jostled for control, Rapisardi and his team ensured the government (and the people of Puerto Rico) had a seat at the table in the negotiating room and the courtroom,” The American Lawyer wrote. Am Law noted that the restructuring has “reduced Puerto Rico’s debt by more than 50%, shaving away tens of billions while also restoring the territory’s credit and preserving pension benefits that had come under attack and threatened to push public retirees into poverty.”
To accomplish this monumental deal, Rapisardi tapped the skills of a cross-practice group of O’Melveny lawyers across the firm’s Restructuring, Finance, Capital Markets, and Tax groups. Additionally, firm litigators helped win conflicts over the interpretation of novel statutory issues of bankruptcy law and under a specially enacted law to govern Puerto Rico’s restructuring.
Puerto Rico’s secretary of state Omar Marrero said of Rapisardi and his team: “We provided the political will. They provided the legal expertise.”
The full article can be viewed here.
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