David M. Hillman

Practice Areas

Corporate restructuring and creditors' rights litigation, with primary emphasis on representation of secured and unsecured creditors, bank groups, bondholders, creditors' committees, landlords and other parties in Chapter 11 bankruptcy cases. Significant experience litigating issues involving plan confirmation, lender liability, financing and cash collateral disputes, fraudulent transfers, preferences, equitable subordination, recharacterization, substantive consolidation, true-sale disputes, breach of fiduciary duty and other similar disputes.

Education

Selected Representations

Counsel to Ableco Finance as agent for pre-petition secured lenders and as agent for post-petition lenders in Chapter 11 bankruptcy cases of Global Motorsports Group and affiliates (retail)

Counsel to Sandell Asset Management as unsecured creditor in connection with out-of-court restructuring and bankruptcy case of Earth BioFuels Inc. (energy)

Counsel to post-confirmation plan administrator for Deltak LLC (manufacturing)

Counsel to Boies Schiller & Flexner in Adelphia bankruptcy case in connection with fee application dispute

Counsel to McDermott Will & Emery in St Vincent’s bankruptcy case in connection with fee application dispute

Counsel to creditors’ committee in Global Power Equipment Group et al. (manufacturing)

Counsel to secured creditors in connection with out-of-court restructuring of radio broadcasting companies

Counsel to Dunlop/Slazengers as trademark licensor in Chapter 11 case of SGP Acquisition (retail)

Counsel to D.B. Zwirn Special Opportunities Fund as secured creditor in connection with Chapter 11 cases of Stop 26 Riverbend Licenses (telecom)

Counsel to Post Advisory Group in connection with breach of contract suit for failure to pay commitment and break-up fee (media)

Counsel to directors and secured creditors in connection with lender liability and breach of duty litigation in Chapter 11 cases of Twinlab (retail)

Counsel to Wells Fargo Foothill, Ableco Finance and CIT Group as post-petition lenders in Chapter 11 case of E.spire et al. (telecom)

Counsel to Rabobank International in Chapter 11 case of Enron in connection with true sale suit arising out of a complex securitization involving the common stock of a publicly traded company which had a market value in excess of $517 million (energy/derivatives)

Counsel to Blackacre Bridge Capital and SWH Funding in Chapter 11 case of River Center, Inc. et al. (real estate)

Counsel to Ableco Finance and the CIT Group/Business Credit Inc. as post-petition lenders in Chapter 11 cases of Atlas Air et al. (aviation)

Counsel to Ableco Finance, Wells Fargo Foothill and Regiment Capital as pre-petition secured creditors in Chapter 11 case of Pen Holdings, Inc. et al. (mining/leasing)

Counsel to creditors’ committee and Harrison J. Goldin as liquidating trustee in Pegasus Gold Corporation et al. (mining)

Counsel to Bank of Montreal, as agent for secured bank group, in adversary proceedings to determine status as secured or unsecured of over $1 billion of debt in Loewen Chapter 11 case

Selected Publications

“Cramdown: Reorganization Plan Litigation for Secured Creditors,” PLI 28th Annual Current Developments in Bankruptcy & Reorganization, 2006 and Aspen Law & Business’ Bankruptcy Litigation Manual, 2006–07 edition

“Debtors Cannot Assume or Assign Trademark License Without Licensor’s Consent,” The Bankruptcy Strategist, April 2006

“Chapter 11 Debtors Cannot Assume or Assign Trademark License Without Consent From Licensor,” Bankruptcy Court Decisions, January 2006

“Bankruptcy Impact On Fiduciary Duties and D&O Liability Insurance: A Practical Guide for Directors, Officers, Creditors, Shareholders and Insurers,” Schulte Roth & Zabel LLP, January 2005

“Deepening Insolvency’ Litigation Risks for Lenders and Directors When Out-of Court Restructuring Efforts Fail,” NYU Journal of Law and Business, December 2004

“Fighting Cramdown: The Objecting Secured Creditor in Reorganization Plan Litigation,” Schulte Roth & Zabel LLP, August 2004

Primer on Break-Up Fees in Bankruptcy, 2001

Memberships

American Bankruptcy Institute
American Bar Association

Prior Experience

Associate, Mayer, Brown & Platt, 1995-2001