Representative Experience

Represented the indenture trustee for $1.75 billion of debt in the Brazilian recuperação judicial proceedings of the OAS Group.


Representing an RMBS trustee in litigation in state court in Illinois to enforce approximately $900 million of mortgage insurance.


Represented the indenture trustee for $4 billion of senior debt in Washington Mutual Inc.’s Chapter 11 case, the largest bank holding company failure in U.S. history.

View More

  • Bankruptcy-Related Experience
    • Represented the indenture trustee for $200 million of subordinated notes in the Chapter 11 cases of K-V Pharmaceutical Co.
    • Represented the indenture trustee for over $2 billion of leveraged lease debt secured by over 100 aircraft in the Delta Airlines bankruptcy case.
    • Represented the master servicer and indenture trustee for mortgage-backed securities aggregating several billion dollars of original principal in American Home Mortgage’s bankruptcy case.
    • Represented the indenture trustee for $2 billion in public debt in Chapter 11 case of Federal Mogul.
    • Represented the indenture trustees for $500 million in senior notes issued by Armstrong World Industries Inc. in a Chapter 11 case involving substantial asbestos-related claims.
    • Defended the indenture trustee and collateral agent for $800 million of debt in an adversary proceeding in the G-I Holdings bankruptcy case.
    • Represented the indenture trustee for US$250 million notes in recuperação judicial proceedings in Brazil and a related Chapter 15 proceeding in New York in the Aralco S.A. bankruptcy.  
    • Represented the indenture trustee for US$200 million notes governed by a New York law indenture and in recuperação judicial proceedings in Brazil regarding Wind Power Energia S.A.
    • Represented Wilmington Trust Company as indenture trustee for US$400 million notes in Canadian arrangement proceedings and Chapter 15 proceeding in Delaware in the Essar Steel Algoma bankruptcy.
    • Represented the indenture trustee for $15.1 million of municipal bond debt in the Chapter 11 case of the Consolidated Freightways Corp.
    • Represented the trustee in an enhanced equipment trust certificate structured finance transaction secured by three B757-200 aircraft being operated by debtor in the US Airways bankruptcy.
    • Represented the trustee in structured PTC transactions with leveraged lease debt on five widebody aircraft in the United Airlines bankruptcy.
    • Represented the indenture trustee in litigation in connection with Trans World Airlines’ bankruptcy.
    • Represented an indenture trustees for nearly $2 billion in 10 GIC-backed municipal bond issues in adversary and insolvency proceedings in Executive Life Insurance Co.’s insolvency.
  • Trustee Litigation Experience
    • Represented the indenture trustee for $850 million in notes issued by Canadian drugstore chain Jean Coutu. Defeated summary judgment motion and obtained favorable settlement for bondholders while protecting creditor’s rights.
    • Defended Bankers Trust Co. as indenture trustee for $578 million in notes issued by Semi-Tech. Obtained summary judgment in Bankers Trust’s favor, dismissing all claims and affirmed by the Second Circuit.
    • Defended the indenture trustee for $4.3 billion of public debt in securities fraud class action litigation arising from the bankruptcy of Adelphia Communications.
    • Represented the indenture trustee in an action alleging breach of fiduciary duty in connection with sale of collateral for securities issued by Sierra Foothills Public Utility District.
    • Represented TitleOne Corp. in a putative class action suit involving a bond issuance from a real estate development company allegedly engaged in a Ponzi scheme.
    • Defended an RMBS trustee as insured in litigation brought by mortgage insurer seeking a declaratory judgment that would limit the insureds’ rights.
    • Filed amicus brief for American Bankers Association in support of appeals court decision holding indenture trustees have no obligation to review an issuer’s SEC filings for substance in connection with Enron’s bankruptcy.
    • Defended RMBS trustees and named trust in fraud case brought by bond insurer MBIA.
    • Defended an RMBS trustee and named trusts in securities fraud class case brought by investors in connection with Bear Stearns mortgage pass-through certificates. Obtained negotiated dismissal of the claim.
    • Represented the custodian for a series of mortgage purchase transactions in connection with disputes relating to New Century Warehouse Corp.’s bankruptcy.
    • Represented the trustee in noteholder litigation concerning asset swap hedge agreements.
    • Defended an indenture trustee in litigation brought by an equity tranche holder challenging whether a “rapid amortization event” occurred under an RMBS indenture.
    • Defended RMBS trustees and numerous trusts named as defendants in securities fraud action brought by various New Mexico pension funds as RMBS investors.
    • Represented a backup servicer in a declaratory judgment action seeking a determination that it did not breach its duties under the applicable agreements in an asset-backed securitization transaction.

Practice Area Highlights

Latin Lawyer honors Pillsbury with 2015 restructuring deal of the year award for advising Deutsche Bank Trust Company in connection with the restructuring of more than $1 billion in senior notes issued by OAS Finance Limited and OAS Investments GMBH.


U.S. News & World Report ranks Pillsbury as a national, tier 1 law firm in the practice areas of “Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law” and “Litigation – Bankruptcy.”