From Capital to Capability™

Lead lender's counsel engaged to navigate a highly distressed, luxury asset portfolio through an aggressive, multi-party conflict between institutional lenders, private lenders, and Investors. Successfully managed governance gridlock, protected high-value tangible assets under extreme liquidity constraints, and facilitated a value-maximizing exit that protected underlying equity tranches.

Served as debtor's counsel to a premier, historic multi-billion-dollar manufacturer and supplier to the automotive and heavy industrial sectors. Directed the strategic operational winding down and liability restructuring of complex manufacturing footprints, directly managing massive legacy pension obligations, labor unions, and cross-border corporate parent dynamics.

Served as co-debtors' counsel in the restructuring of the largest electricity generator, distributor, and certified retail provider in Texas, navigating over $40 billion in liabilities. Orchestrated complex negotiations involving a massive, multi-tiered capital structure, heavily leveraged institutional credit tranches, and intense regulatory oversight.

The chain of stores was temporarily closed between March and June 2020 as a result of COVID-19, and the restructuring/liquidation needs and efforts are directly related to and a direct result of the pandemic and the government-ordered shutdowns, as well as a disputed $175 million business interruption insurance claim, which is now being litigated.

The chapter 11 plan provided for conversion of preferred stock to 100% of the common equity, and distributed contingent value rights to the prefiling (old) common equity holders.

Closely following the closure of ITT Tech in early September, Mr. Marwil was enlisted as the Trustee’s general bankruptcy counsel He assisted the Trustee in responding to regulatory actions brought by the U.S. Securities & Exchange Commission, the Consumer Finance Protection Bureau and various state attorneys general. He pursued fraudulent conveyance and preference avoidance actions and other claims against certain of ITT students’ former lenders, the Department of Education and other third parties. He also represented the Trustee in defending, and ultimately settling, a $1.5 billion ITT students’ class action lawsuit.

MAG merged expected to emerge from its chapter 11 case within 140 days after the petition date.

Taylor Bean created and then subsequently operated the special-purpose entity subsidiary that was a conduit that purchased its home loans and bundled them into securities, which it then sold to Freddie Mac and other investors. It funded the mortgage loan business by selling $1.75 billion of asset-backed commercial paper short-term notes to Deutsche Bank and the mortgage subsidiary of BNP Paribas.

Deutsche Bank bought about $1.2 billion of the notes, and BNP had purchased about $480.7 million. Taylor Bean, once the largest mortgage lender in the U.S. not owned by a deposit-taking bank, sought bankruptcy protection in August 2009 in the U.S. Bankruptcy Court for the Central District of Florida after federal law enforcement raided its headquarters. Prosecutors discovered a fraud scheme and eventually secured several lengthy prison sentences for its executives.

Devised and implemented a “clawback” litigation strategy to recover payments to certain investors in order to effectively equalize the harm to all investors that resulted from the Ponzi Scheme fraud.