John J. Rapisardi

Partner

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John J. Rapisardi, Co-Chair of the Firm’s Global Restructuring Practice, has 30 years of domestic and international debtor and creditor restructuring experience across a variety of industries, including automotive, casinos, chemical, health care, retail, real estate, satellite, sports franchises, textile and telecommunications. John is leading O'Melveny's ongoing representation of Puerto Rico's Fiscal Agency and Financial Advisory Authority with respect to the financial restructuring of Puerto Rico's debt obligations. 

Consistently recognized  as one of the leading restructuring lawyers in the US, Chambers USA has recently described John as a “tremendous lawyer” who is “well regarded in the industry” and praises his approach to both company and creditor-side transactions as “very measured, smart, diligent and thoughtful.” For his representation of the US Treasury Department in the Chrysler, General Motors and Delphi restructuring, Chambers USA described John as a “go-to attorney on behalf of the US Treasury.”

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Honors & Awards

  • Recognized as a Distinguished Leader by The New York Law Journal (2017)
  • Named Elite Leading Lawyer by The Legal 500 (2011-2012, 2016-2017)
  • Inducted into the American College of Bankruptcy (ACB)
  • Commended as one of the leading restructuring lawyers in the U.S. by Chambers USA (2010-2017)
  • Selected as a leading lawyer in Bankruptcy and Creditor-Debtor Rights, Insolvency and Reorganization, Bankruptcy Litigation by The Best Lawyers in America
  • Named a “Super Lawyer” in Bankruptcy and Creditor-Debtor Rights (2006-2014)
  • Named a highly recommended international restructuring counsel in PLC Cross-border Restructuring and Insolvency Handbook
  • Named in the 2016 annual listing of Top 100 Restructuring and Turnaround professionals by Global M&A Network

Admissions

Bar Admissions

  • New York

Court Admissions

  • US District Court, Southern District of New York
  • US Court of Appeals, First Circuit

Education

  • New York University, LL.M., 1985
  • Pace University, J.D., 1982: Pace Law Review
  • Fordham University, B.S., 1979: beta gamma sigma

Professional Activities

Clerkships

  • Honorable Edward Ryan, Chief Bankruptcy Judge, Southern District, New York (1983-1985)

Author

  • ‘In re Sabine’: Gathering Agreements and Real Covenants,” New York Law Journal (June 2016)
  • “Attention Lenders: Liens May Not Be as Secure as You Thought,” New York Law Journal (Sept. 2015)
  • “Structured Dismissals of Chapter 11 Cases,” New York Law Journal (July 2015)
  • “Revisiting ‘Rede’ and Recent Brazilian Restructuring Issues,” New York Law Journal (May 2015)
  • “Revel Asset Sale Raises Important Distressed Real Estate Issue,” New York Law Journal (March 2015)
  • “Chesapeake Energy Appeal Resolved in Favor of Noteholders,” New York Law Journal (Jan. 2015)
  • “Revisiting Key Issue for Directors of Insolvent Entities,” New York Law Journal (Nov. 2014)
  • “Second Circuit Expected To Address Key Issue for Distressed Bondholders,” New York Law Journal (Sept. 2014)
  • “Bankruptcy Basics Under Brazilian Law,” New York Law Journal (July 2014)
  • “Credit Bidding Rights Again Limited ‘for Cause,’” New York Law Journal (May 2014)
  • “Conflicting Decisions Create Uncertainty on Key Chapter 15 Issue,” New York Law Journal (Jan. 2014)
  • “Decisions Address FDIC Claims to Defunct Bank Tax Refunds,” New York Law Journal (Nov. 2013)
  • “Seventh Circuit Addresses Questions Left Open by ‘Stern v. Marshall,’” New York Law Journal (Sept. 2013)
  • “Chapter 9 Update: Limiting Jurisdiction in Municipal Bankruptcies,” New York Law Journal (March 2013)
  • “Fifth Circuit Crafts New Test for Foreign Debtor Relief,” New York Law Journal (Jan. 2013)
  • “Supreme Court Affirms Secured Creditors' Right to Credit Bid at Plan Sales,” New York Law Journal (July 2012)
  • “Extent of Non-Debtor Parent Exposure Under Channeling Injunctions,” New York Law Journal (May 2012)
  • “Seventh Circuit Affirms Secured Creditors’ Cramdown Rights,” New York Law Journal (March 2012)
  • “Bankruptcy Law in 2011: The Year in Review,” New York Law Journal (Jan. 2012)
  • “Unclear Status of Stakeholder Negotiations in a Post-‘WaMu’ World,” New York Law Journal (Nov. 2011)
  • “‘Whittle’: Just When You Thought Foreclosure Sales Were Sacrosanct,” New York Law Journal (Sept. 2011)
  • “Seventh Circuit Reaffirms Secured Creditors' Right to Credit Bid,” New York Law Journal (July 2011)
  • “Second Circuit Disapproves of Gifting, Affirms Designation in ‘DBSD,’” New York Law Journal (May 2011)
  • “Toward a State Bankruptcy Alternative: Resolving Claims, Respecting Sovereignty,” New York Law Journal (March 2011)
  • “Infamous Fraudulent Transfer Decision Reversed on Appeal,” New York Law Journal (March 2011)
  • “Bankruptcy Law in 2010: The Year in Review,” New York Law Journal (Jan. 2011)
  • Puerto Rico. Leads the ongoing representation of Puerto Rico's Fiscal Agency and Financial Advisory Authority with respect to the financial restructuring of Puerto Rico's debt obligations.
  • Energy. Represented individual creditors or creditor groups in the following situations: Linn Energy, Halcon Resources, Peabody Energy, and Foresight Energy. 
  • Black Gaming. Represented the senior secured noteholders in Black Gaming LLC’s prepackaged bankruptcy filing in Las Vegas, Nevada in which the lenders wrote down a piece of their outstanding indebtedness in exchange for a new note on the company as well as a significant cash infusion by a plan sponsor group that is to be distributed pro-rata to the lenders.
  • Blockbuster. Represented Icahn Associates and certain of its affiliates, as the largest pre-petition and post-petition lender, and auction participant in Blockbuster Inc.’s chapter 11 cases.
  • Brookfield. Represented an investor consortium spearheaded by Brookfield Properties and affiliates in connection with Brookfield's investment in bank debt of a Washington D.C. affiliate of major U.S. real estate developer, Tishman Speyer Properties.
  • Colt Defense. Represented Colt Defense, one of the world’s oldest and most iconic designers, developers, and manufacturers of firearms, in its chapter 11 cases. The Colt Defense restructuring was the recipient of a Turnaround Atlas Award for the "Turnaround of the Year."
  • Contec. Represented Barclays as agent to the senior lenders in the pre-packaged bankruptcy of CHL, Ltd. and its affiliates in the U.S. Bankruptcy Court for the District of Delaware.
  • U.S. Department of Treasury. Represented the United States Department of Treasury and the Presidential Task Force with respect to the restructuring of Chrysler, General Motors and Delphi
  • U.S. Department of Treasury. Advised the Treasury on the restructuring and Disposition of Treasury's Capital Purchase Program investments in a number of financial institutions, including notably Treasury's $2.3 billion investment in CIT.
  • Fred Leighton. Represented Merrill Lynch Mortgage Capital Inc. and another major financial institution in connection with the chapter 11 cases of high-end retail jeweler Fred Leighton Holding, Inc. and certain affiliates.
  • Inner City Media. Represented the secured lenders in the chapter 11 case of radio station operator Inner City Media Corporation.
  • Quiznos. Represented Avenue Capital in Quiznos chapter 11 cases.
  • Xerium Technologies. Represented Xerium in its pre-packaged chapter 11 cases.

John also advised corporate clients in some of the most significant and innovative restructurings, including:

  • LyondellBasell Industries in its chapter 11 cases
  • Caribbean Petroleum in its chapter 11 cases
  • Metallurg in its chapter 11 case and related U.K. and German subsidiaries in insolvency proceedings
  • Portland Trailblazers in workout negotiations with its bondholders
  • Saint Vincent's Medical Center in its chapter 11 case
  • West Point Stevens in its chapter 11 case and related U.K. subsidiaries in insolvency proceedings

Additionally, John acted on behalf of creditors, lenders and investors in restructurings, such as:

  • Aladdin Casino. Represented an investor in acquiring the casino in its chapter 11 case
  • Barneys New York. Represented investors in the acquisition of the department stores in their chapter 11 cases
  • BLB/Twin River Casinos. Represented Merrill Lynch as agent lender
  • Blockbuster Inc. Represented Icahn Associates and its affiliates in the chapter 11 cases
  • Centro Properties. Represented the agent lender for $2 billion of debt
  • Fleetwood Enterprises. Represented the Ad Hoc Noteholders Committee
  • Intrawest. Represented Lehman as agent lender for approximately $2 billion debt
  • LandSource. Represented Barclays as agent/secured lender for $1 billion debt in the chapter 11 cases
  • Lehman Brothers Holdings. Represented Citigroup, Inc. in the chapter 11 case
  • NSM Steel. Represented an ad hoc bondholders' committee in the restructuring under Thai bankruptcy law
  • Owens Corning. Represented a bank steering committee in the chapter 11 case
  • Pliant Corporation. Represented Merrill Lynch in the $300 million exit financing
  • Safety Kleen. Represented a bank steering committee in the chapter 11 cases
  • Solutia. Represented an ad hoc bondholders' committee in the chapter 11 case
  • Steve & Barry's. Represented an investor in acquiring the retail department store chain out of chapter 11
  • Trump Atlantic City Casinos. Represented the bondholders' committee in the restructuring