“Smart, sophisticated and can handle matters of the greatest complexity.” Client Commentary, Chambers USA
For over 30 years, Caplin & Drysdale's bankruptcy litigation practice has protected the rights of creditors in courts throughout the United States. We are regularly retained in Chapter 11 bankruptcy cases to analyze and resolve high-profile, complex and cutting-edge disputes. From the unique to the routine, our practice encompasses the full range of issues potentially affecting creditors in bankruptcy proceedings. Visit this link to learn more about our International Insolvency practice.
Areas of Focus
Caplin & Drysdale has represented more than 20 official committees representing tort claimants in the bankruptcies of major corporate defendants in bankruptcy courts across the country. Multiple tens of billions of dollars have since been transferred to trusts set up for the benefit of those claimants. Caplin & Drysdale also represents secured and unsecured creditors with substantial interests at stake in Chapter 11 bankruptcies across the country. Our attorneys address every facet of commercial bankruptcy, including valuation disputes, fraudulent conveyance claims, successor liability issues, discovery disputes and related litigation, substantive consolidation, plan confirmation, and other subjects of interest to creditors.
- Caplin & Drysdale was instrumental in creating the very first asbestos trust in the Johns-Manville bankruptcy case, a trust that was innovatively formed to address both then-existing asbestos liabilities as well as liabilities extending into the indefinite future.
Result: The plan withstood appellate challenge, and its structure was subsequently enacted into law in the form of Section 524(g) of the Bankruptcy Code.
- Caplin & Drysdale represented a major financial institution in protecting its interests as a secured creditor in the bankruptcy of a mortgage loan originator.
Result: Our attorneys successfully negotiated a settlement whereby our client obtained full releases as to certain pre-petition transactions and also received substantial funds as to which the debtor had asserted a claim.
- Caplin & Drysdale pursued a wrongful corporate spinoff and fraudulent transfer case in a major Chapter 11 proceeding.
Result: Compensation estimated at over $1 billion dollars was recovered.
- Claimants injured by chemical exposure retained Caplin & Drysdale to protect their interests when their defendant corporation filed for bankruptcy.
Result: Our attorneys negotiated an agreement providing for a payment of tens of millions of dollars to settle those claims.
- Caplin & Drysdale represented plaintiffs against a company who contended that plaintiffs' claims for more than $60 million in environmental clean-up costs had been discharged in the company's earlier bankruptcy reorganization.
Result: We achieved summary judgment in favor of the plaintiffs and their claims were preserved.
- Caplin & Drysdale represented over 1,000 asbestos personal injury claimants who were named as defendants in an adversary proceeding brought by debtors, who sought a declaratory judgment that they were not liable for the asbestos-related liabilities of a former affiliate.
Result: After a trial in the bankruptcy court and an appeal to the district court, the litigation was settled for over $390 million for the benefit of the asbestos victims of the affiliate.
Caplin & Drysdale represented the Official Committee of Unsecured Creditors holding Asbestos-Related claims in the Motors Liquidation Company (formerly known as General Motors) bankruptcy, in which proofs of claim for billions of dollars of asbestos and non-asbestos unsecured claims were filed. Caplin & Drysdale also represents the MLC Trust Advisory Committee for the Asbestos Trust.
Increasingly, as markets become global, commercial insolvency cases in the United States are taking on a cross-border dimension. In 2005, the United States Congress added Chapter 15 to the Bankruptcy Code, which incorporates the Model Law on Cross-Border Insolvency adopted in other countries. In addition, foreign debtors with assets in the U.S. are eligible to reorganize and discharge their debts under Chapter 11 of the Bankruptcy Code.
In this environment, international companies, who may be unfamiliar with U.S. bankruptcy law and procedures, are nonetheless looking to protect their interests. Caplin & Drysdale's highly skilled insolvency practitioners can help. Our firm has represented creditors and official creditors committees in the Chapter 11 reorganizations of non-U.S. debtors. In addition, our firm has worked with practitioners outside the U.S. to obtain foreign recognition of orders and judgments of the U.S. bankruptcy court and to negotiate and structure financial transactions involving assets in multiple countries.
We have also worked with overseas counsel in coordinating the conduct of litigation filed outside the U.S.. Our emphasis on close communications with clients, relatively lean staffing, and hands-on involvement by senior lawyers is key to our group's success in delivering legal services of the highest quality at an excellent value.
- Wendy J. BarnettAssociate
- Monty CrawfordOf Counsel
- Kevin M. DavisMember
- Shamara R. JamesAssociate
- Allegra KauffmanAssociate
- Jeanna Rickards KoskiOf Counsel
- Jeffrey A. LiesemerMember
- Kevin C. MaclayMember
- Ann C. McMillanMember
- Nathaniel R. MillerAssociate
- George M. O'ConnorAssociate
- Todd E. PhillipsMember
- Shahriar M. (Shah) RaafiAssociate
- Lucas H. SelfAssociate
- Walter B. SlocombeSenior Counsel
- James P. WehnerMember
- Katy ZendehAssociate
News & Insights
- 11.03.2022 | Awards & Rankings
- 08.18.2022 | Awards & Rankings
- 07.25.2022 | Awards & Rankings
- 06.03.2022 | Awards & Rankings
- 05.02.2022 | Awards & Rankings
- Caplin & Drysdale Earns 10 Tier 1 Practice-Area Rankings in 12th Edition of U.S. News – Best Law Firms®11.04.2021 | Awards & Rankings
- 08.19.2021 | Awards & Rankings
- 05.20.2021 | Awards & Rankings
- 04.29.2021 | Awards & Rankings
- 11.05.2020 | Awards & Rankings
- 08.20.2020 | Awards & Rankings
- 05.05.2020 | Awards & Rankings
- 05.04.2020 | Awards & Rankings
- Caplin & Drysdale Earns Top-Tier "Best Law Firms" Rankings in 10th Edition of U.S. News – Best Lawyers11.01.2019 | Awards & Rankings
- 08.15.2019 | Awards & Rankings
- 04.25.2019 | Awards & Rankings
- 04.22.2019 | Awards & Rankings
- Caplin & Drysdale Earns 11 Tier 1 Practice-Area Rankings in Ninth Edition of U.S. News – Best Law Firms®11.01.2018 | Awards & Rankings
- 08.15.2018 | Awards & Rankings
- 05.03.2018 | Awards & Rankings
- 11.28.2017 | Awards & Rankings
- 11.01.2017 | Awards & Rankings
- 08.15.2017 | Awards & Rankings
- 06.02.2017 | Awards & Rankings
- 04.27.2017 | Awards & Rankings
- 11.22.2016 | Awards & Rankings
- 11.02.2016 | Awards & Rankings
- 10.03.2016 | Awards & Rankings
- 08.15.2016 | Awards & Rankings
- 06.23.2016 | Awards & Rankings
- 06.01.2016 | Awards & Rankings
- 04.26.2016 | Awards & Rankings
- 02.01.2016 | Press Releases
- 11.19.2015 | Both
- 11.02.2015 | Awards & Rankings
- 06.08.2015 | Both
- 05.19.2015 | Awards & Rankings
- 04.23.2015 | Both
- 11.10.2014 | Awards & Rankings
- 11.04.2014 | Awards & Rankings
- 08.21.2014 | Awards & Rankings
- 07.23.2014 | Press Releases
- 07.01.2014 | Awards & Rankings
- 05.28.2014 | Awards & Rankings
- 04.30.2014 | Awards & Rankings
- 01.08.2014 | Press Releases
- 10.28.2013 | Awards & Rankings
- 10.21.2013 | Awards & Rankings
- 06.03.2013 | Awards & Rankings
- 05.29.2013 | Awards & Rankings
- 04.29.2013 | Awards & Rankings
- 03.18.2013 | Awards & Rankings
- 11.08.2012 | Awards & Rankings
- 06.12.2012 | Both
- 11.15.2011 | Awards & Rankings
- 09.01.2011 | Awards & Rankings
- 06.16.2011 | Both
- 08.04.2010 | Awards & Rankings
- 06.15.2010 | Both
- Caplin & Drysdale Raises Three Attorneys to Membership in the Firm, Underscoring its Commitment to Creditors' Rights and Complex Financial Litigation02.01.2010 | Press Releases
- 06.15.2009 | Awards & Rankings
- 03.27.2009 | Awards & Rankings
- Ann McMillan Discusses Asbestos Bankruptcy Trust Litigation at American Association for Justice 2019 Annual Convention07.27.2019
- Walter Slocombe to Speak on the ISAB Report on U.S.-Russia Relations01.15.2015
- Jeffrey Liesemer Presents a LIVE Webinar on Significant Issues for Fraudulent Transfer Actions03.25.2014
- Supreme Court Alert: Supreme Court Declines to Address the Viability of the Equitable Mootness Doctrine10.29.2021 | Article
- 01.09.2020 | Article
- SDNY Distinguishes Supreme Court, Holds Tribune Company's Leveraged Buyout Falls Within Section 546(e) Safe Harbor Provision08.20.2019
- Garvin and its Aftermath: The Ninth Circuit Upholds a Bankruptcy Plan Contemplating Income From a Cannabis-Related Source and Several Bankruptcy Courts Quickly Weigh In07.08.2019 | Article
- When Is an Environmental Claim Not an Environmental Claim: Climate-Change Claims in Bankruptcy Courts07.01.2019 | Article
- Supreme Court Alert: The Court Holds That Third-Party Counterclaim Defendants Cannot Remove Cases to Federal Court06.06.2019 | Article
- Supreme Court Alert: A Divided Court Holds that Under the Federal Arbitration Act an Ambiguous Agreement Cannot Provide a Basis for Compelling Class Arbitration05.01.2019 | Article
- 04.25.2019 | Article
- 12.11.2018 | Article
- 09.01.2018 | Article
- 08.24.2018 | Article
- 08.22.2018 | Article
- Second Circuit Holds Arbitration of Alleged Violation of Discharge Injunction Conflicts with Purposes of Bankruptcy Code06.29.2018 | Article
- There's No Elephant in This Mousehole: The Supreme Court Upholds State Court Jurisdiction Over Class Actions Brought Under the Securities Act of 193305.18.2018 | Article
- Is "Per Debtor" Better? Cases Analyzing Cramdown and Substantive Consolidation Reflect Ongoing Debate About Creditor Protections in Multi-Debtor Bankruptcies04.19.2018 | Article
- Supreme Court Alert: The Court Provides Additional Guidance on the Appropriate Level of Review of Determinations of Mixed Questions of Law and Fact by the Bankruptcy Court03.19.2018 | Article
- Narrower Harbors: Supreme Court Holds that § 546(e) Securities Safe Harbor Does Not Protect Transfers in Which Financial Institution Is Only a Conduit03.16.2018 | Article
- The First Circuit Joins Several Other Circuit Courts in Finding That Creditors' Committees Have an Unconditional Right to Intervene in Adversary Proceedings03.13.2018 | Article
- 03.06.2018 | Article
- First Circuit Finds Creditors' Committees Have Unconditional Right to Intervene in Adversary Proceedings02.09.2018 | Article
- The First Circuit Joins Several Other Circuit Courts in Finding That Creditors' Committees Have an Unconditional Right to Intervene in Adversary Proceedings01.23.2018 | Article
- 08.21.2017 | Article
- 03.24.2017 | Article
- 01.06.2017 | Article
- 09.30.2016 | Article
- 07.22.2016 | Article
- 07.18.2016 | Article
- Products Liability Plaintiffs Prevented From Seeking Recovery Against New GM Because the Bankruptcy Court Found Their Claims Were Not Assumed by New GM04.26.2016 | Article
- 03.11.2016 | Article
- 08.07.2015 | Article
- 07.01.2015 | Article
- The Impact of Republic of Argentina v. NML Capital, Ltd.: Why the Supreme Court's Ruling Against Argentina Avoided a Host of Unintended, Negative Consequences05.06.2015 | Article
- 03.20.2015 | Article
- 12.19.2014 | Article
- 09.09.2014 | Article
- 07.25.2014 | Article
- 06.20.2014 | Article
- 02.21.2014 | Article
- 03.26.2013 | Article
- Foreign Official' Under FCPA: Regal May Be Legal10.23.2012 | Article
- No Oracle Could Have Foreseen Oracle's FCPA Settlement09.05.2012 | Article
- Greece Payments: Smith & Nephew Settles Allegations of Corrupt Payments to Greek Surgeons02.22.2012 | Article
- Making Their Mark: The Supreme Court Clarified and Reshaped Class Action Law in the October 2010 Term08.01.2011 | Article
- United States Supreme Court Holds That Loss Causation Is Not Required to Obtain Class Certification in a Securities Class Action06.13.2011 | Article
- The Supreme Court to Hear Arguments on Whether Loss Causation Must Be Established for Class Certification04.21.2011
- 09.25.2008 | Article