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John J. Rapisardi
John J. Rapisardi, Co-Chairman of Cadwalader's Financial Restructuring Department, has more than 27 years of domestic and international restructuring experience across a variety of industries, including automotive, casinos, chemical, healthcare, retail, real estate, satellite, sports franchises, textile and telecommunications companies. John served as outside counsel to the United States Department of Treasury and the Presidential Task Force with respect to the restructuring of Chrysler, General Motors and Delphi. Most recently, he was selected by the United States Department of Treasury to represent the government in the restructuring of CIT, the distressed bank holding company.
John was recently recognized by the Global M&A Network as "Restructuring Advisor of the Year," received a Turnaround Atlas Award in this category for his work in 2008/2009 and received the 2009 Annual Leadership Award from Pace University School of Law. Additionally, he was named to Turnarounds & Workouts list of "Outstanding Restructuring Lawyers" for 2009. He has been named as a highly recommended international restructuring counsel in PLC Cross-border Restructuring and Insolvency Handbook, recognized as one of the leading restructuring lawyers in the U.S. by Chambers USA, and included in Best Lawyers in America.
John is playing or has played a leading role on behalf of clients in the following restructurings:
- Xerium Technologies, in its highly successful pre-packaged chapter 11 case
- LyondellBasell Industries in its chapter 11 cases
- Citigroup, Inc. in the chapter 11 case of Lehman Brothers Holding, Inc.
- JPMC as agent lender for $2 billion debt in Centro Properties
- Barclays as agent lender for $1 billion debt in the Landsource chapter 11 cases
- Merrill Lynch as agent lender in BLB/Twin Rivers Casinos
- Ad Hoc Noteholders Committee in Black Gaming
- Ad Hoc Noteholders Committee in Fleetwood Enterprises
- Lehman as agent lender for approximately $2 billion debt in Intrawest
- An investor in acquiring Steve & Barrys (retail department store chain) out of chapter 11
- Merrill Lynch in the Fred Leighton chapter 11 cases
- Saint Vincents Medical Center in its chapter 11 case
- West Point Stevens in its chapter 11 case and related U.K. subsidiaries in insolvency proceedings
- Portland Trailblazers in workout negotiations with its bondholders
- Merrill Lynch in the $300 million exit financing of Pliant Corporation
- A bank steering committee in the Owens Corning chapter 11 case
- An ad hoc bondholders' committee in the Solutia chapter 11 case
- An investor in acquiring Aladdin Casino in its chapter 11 case
- The bondholders' committee in the Trump Atlantic City Casinos restructuring
- Investors in the acquisition of Barneys New York department stores in their chapter 11 cases
- An ad hoc bondholders' committee in the NSM Steel restructuring (under Thai bankruptcy law)
- Metallurg in its chapter 11 case and related U.K. and German subsidiaries in insolvency proceedings
- A bank steering committee in the Safety Kleen chapter 11 cases
John has advised investors and financial institutions and written extensively on the subject of lender rights and remedies under the new Chinese Bankruptcy Code. He is a member of INSOL and was chair of its planning committee for INSOL's Quadrennial Conference 2009 in Vancouver, British Columbia. He was the founder of the Pace Law School Alumni Mentoring program established in 1995 and was a founding member of the committee establishing the pro bono New York City Bankruptcy Assistance Project in 2002.
A Beta Gamma Sigma graduate from the College of Business Administration at Fordham University, John received his LL.M. from New York University and J.D. from Pace University and served on the Pace Law Review.
John clerked two years for the then Chief Bankruptcy Judge of the Southern District of New York.
John is co-author of The PRC Enterprise Bankruptcy Law: The People's Work in Progress (Beard Group, Inc., 2008) and, for the past fifteen years, has been a regular bankruptcy columnist for the New York Law Journal.
Recent articles in the New York Law Journal include:
- Special Issues Under Chapter 9 of the Bankruptcy Code, Part II
- Part I: Overview of Municipality Bankruptcy Under Chapter 9
- Secured Creditors' Rights at Stake In 'Philadelphia Newspapers' Case
- Circuit Limits Grounds to Disallow Administrative Expense Claims
- 'Journal Register' Case Reaffirms the Vitality of 'Gift' Plans
- New Century: Further Limitations on Substantive Consolidation?
- In re Betcorp Limited - U.S. Bankruptcy Court Recognizes Multinational Non-Judicial Foreign Insolvency Under Chapter 15
- Third Circuit Elaborates on Non-Statutory Insiders
- Known Creditor's Chapter 11 Claims Not Dischargeable For Lack of Actual Notice of Bar Date
- Delaware Bankruptcy Court Provides Guidance to Debtor Corporations Tailoring Compensation Plans Consistent with BAPCA's Limitations on KERPs
- Supreme Court of Delaware Rejects Direct Creditor Claims for Breach of Fiduciary Duties
- Fraudulent Transfer Challenge to Leveraged Spin-off
- Disclosure of Information By Distressed Claims Purchasers
- Problems in Distressed "Loan-to-Own" Investments
- China's New Bankruptcy Law: Doing Business in China
- Delaware Court Rejects "Deepening Insolvency" Theory
- Protocol for Creditors' Committee to Provide Information to Constituents
Other Publications:
- "A Legal Analysis and Practical Application of the PRC Enterprise Bankruptcy Law," Business Law Journal, January 2010
- "Leverage and Lenders of Last Resort," The Bankruptcy Strategist, December 2009
- "Chrysler, GM: Courts Extend Law On Sales," Law360, October 2009
- "2 Lawyers on the G.M. Case Tell Their Story," The New York Times, July 2009
- "Lyondell: The Largest Commercial DIP in History," Journal of International Banking and Financial Law (2009)
- Co-author, The PRC Enterprise Bankruptcy Law: The People's Work in Progress (2008)
- Co-author, Fundamentals on Bankruptcy, West Publishing (1998)
- Miller and Rapisardi, "Separate and Unequal: In re 203 N. LaSalle Street Partnership," 28 Memphis Law Review 3, 1998
- "Issues and Implications Raised by Serial Chapter 11 Filings: An Overview," New York State Bar Association, 1997
- Model ABA Brief: In re Rash (1997) addressing issue of valuing collateral under a nonconsensual chapter 11 plan
- "The Mortgagee's Right to Rents After Default," Journal of Bankruptcy Law and Practice, May/June 1997
Lecturing and Teaching:
- Panel Presentation at Turnaround Management Association's 2010 Spring Conference on Global/Cross-Border Issues and Trends, April 2010
- ABI Winter Leadership Conference - Business Reorganization - Successful Pre-arranged Bankruptcy Filings: Lessons Learned from GM and Chrysler, December 2009
- Moderator and Panel Presenter at Golden Networking's China Leaders Forum: Capital Markets and Private Equity Landscape, October 2009
- Moderator and Panel Presenter at Golden Networking's Distressed Investing Leaders Forum, July 2009
- Panel Presentation at Milken Institute Global Conference, Beverly Hills, California, April 2009
- Panel Presentation at Merger Market's Distressed M&A Roundtable, New York, New York, April 2009
- Adjunct professor at Pace Law School teaching Debtors' and Creditors' Rights in Bankruptcy
- ABI Winter Leadership Conference - Business Reorganization - Renewed Interest in the three Rs: Reinstatement, Repayment and Refinance - The New Rithmetic, December 2008
- AIRA Panel Presentation- "Comparative Provisions & Implications of the U.S. and China Bankruptcy Codes: Moving Toward A Common Ground?" (AIRA- Shanghai/September 2008)
- AIRA Panel Presentation- "Emerging Valuation Theories & Strategies," October 2008
- Panel Presentation on Cross-border International Restructuring Issues Sponsored by Financial Research Associates, July 2007
- Panel Presentation at Beard's Tenth Annual Conference on Restructuring Troubled Companies, Chicago, June 21, 2007
- Chairman, Panel Presentation at Beard's Eighth Annual Conference on Healthcare Transactions, Chicago, April 2007
- Panel Presentation on Loan to Own Distressed Investments, INSOL Conference Cape Town, South Africa, March 2007
- Panel Presentation on Compensation of Restructuring Professionals, INSOL Conference, Cape Town, South Africa, March 2007
- Lecturer, Chapter 15 Cross Border Insolvency Issues, INSOL Conference, Toronto, October 2006
- Lecturer before China Law Society on suggested improvements to draft Chinese Bankruptcy Code, Beijing, June 2006
- Lecturer on U.S. Corporate Governance before INSOL Conference, Sydney, Australia, March 2005
- Chair of ABI panel: Looking Elsewhere for Creditor Recoveries, New York City, May 2002 Professional Publications
- Chair of ABI panel: Ethical Issues in Chapter 11 cases, New York City, May 2001
- Judged defense of student thesis for bankruptcy LL.M. degree at St. John's University, Spring 2001
- ABI roundtable panelist: Implications of Supreme Court Decision in 203 N. LaSalle, November 1999
- PLI lecturer, Fundamentals of Corporate and Consumer Bankruptcies, White Plains, N.Y., June 1999
- ABA presentation before Panel of Federal Circuit Judges Arguing Merits of Supreme Court Decision In re Rash, Spring 1998
- Lecturer before the New York State Bar Association: Serial Chapter 11 Filings, Spring 1997
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