David Heroy co-chairs the Firm’s Global Financial Restructuring and Insolvency Practice Group. He has played a leading role in many of the US’s major corporate restructurings and bankruptcies for the past 25 years. He served as lead counsel for official committees of creditors and equity security holders in numerous high-profile mega-cases, as well as for owners or purchasers of distressed assets. Mr. Heroy is also well known for lecturing and writing on related issues for organizations such as the Practicing Law Institute, the Wharton Restructuring Conference, the Japan American Business Conference, the State-Owned Asset Supervision and Administration Commission in China and as a guest lecturer in classes at the Yale Law School and School of Management. He also is a member of the Global Steering Committee for the Firm’s Banking and Finance Practice Group.

Practice Focus

Mr. Heroy focuses on corporate financial restructuring and insolvency, including related corporate transactions and litigation in bankruptcy and appellate courts across the United States. An experienced corporate lawyer, he also supervises related litigation and has personally argued cases in the United States Bankruptcy, District and Circuit Courts of Appeal.

Representative Legal Matters

• Represented the largest US air carrier (by domestic traffic) in various distressed acquisitions and offers to acquire Midway Airlines, ATA and Frontier Airlines.
• Acted as counsel to equity committee in USD10 billion chapter 11 case in Delaware involving over 350 cases, cross-border issues and asbestos-related claims.
• Acted as counsel involving UK insolvency proceedings to a leading US financial institution in a major fraud-based insolvency involving a prominent Middle Eastern family and its business, more than USD400 million in various claims, and insolvency proceedings in Bahrain, Cayman Islands, London (England), and Switzerland.
• Acted as counsel to equity committee in largest engineering and contracting firm to seek chapter 11 relief in Delaware with more than USD2.5 billion debt in more than 12 countries.
• Acted as counsel to equity committee in Delaware for the largest sugar producer in the United States with annual revenues of more than USD2.1 billion.
• Acted as counsel to USD225 million bonds and the unsecured creditors committee in chapter 11 case in California for the leading nutraceutical company.
• Represented creditors committee in chapter 11 cases in Delaware involving more than USD800 million debt for the leading US flooring retailer.
• Represented creditors committee for failed USD500 million startup of SBQ and iron carbide facilities in Indiana and Texas.
• Represented a unit of the nation’s largest pension fund in its successful defense of a USD60 million lender liability case during chapter 11 proceedings.

Professional Associations and Memberships

• Illinois State Bar Association - Member
• New York State Bar Association - Member

Admission

New York~United States (2010)
U.S. Court of Appeals, Third Circuit (1999)
U.S. Court of Appeals, Ninth Circuit (1997)
U.S. Court of Appeals, Seventh Circuit (1990)
U.S. Supreme Court (1987)
U.S. Court of Appeals, Sixth Circuit (1986)
Illinois~United States (1976)
U.S. District Court, Northern District of Illinois (1976)

Education

University of Michigan Law School  (J.D. cum laude) (1976)
University of Michigan  (A.B. Distinction) (1973)