BruceBennett

Practice Leader Business Restructuring & Reorganization

Los Angeles + 1.213.243.2382 New York + 1.212.326.3680

Bruce Bennett, global leader of the Business Restructuring & Reorganization Practice, has represented debtors, creditors, and business acquirers in many of the United States' largest corporate reorganizations in the retail, gaming, media, telecommunications, heavy industry, aviation, manufacturing, real estate, insurance, energy, banking, and computer technology sectors.

Bruce recently acted as co-lead counsel for the City of Detroit in its historic chapter 9 debt adjustment case and as counsel for major creditors in the chapter 11 cases for Caesars Entertainment Operating Corporation, Energy Future Holdings, and General Motors and in out of court restructuring matters for iHeart and Puerto Rico.

Prior to joining Jones Day, Bruce was lead lawyer for the Los Angeles Dodgers on their $2 billion acquisition by Magic Johnson and other partners. He also was lead debtor's counsel in the country's second largest municipal bankruptcy (County of Orange, California), which commenced following a $1.7 billion loss in county investment pools. Related litigation resulted in the recovery of more than $870 million for the county. He also successfully resolved large bankruptcy cases for lenders, note holders, and equity interest owners, including Adelphia Communications, Enron, Fountainebleau Las Vegas, Green Valley Ranch, Hawaii Medical Centers, Lehman Brothers, MF Global, Olympia & York, Travelport, Tribune Company, and Verso.

Bruce is a member of the American College of Bankruptcy, Financial Lawyers Conference, and board of trustees and executive committee of Good Samaritan Hospital, Los Angeles.

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Experience

  • Senior creditors of iHeart Communications negotiate exit term loan facilityJones Day advised senior creditors holding in excess of $7.4 billion in iHeartCommunications, Inc.'s prepetition indebtedness in connection with all aspects of the restructuring of iHeart's debt in a chapter 11 proceeding in the United States Bankruptcy Court for the Southern District of Texas, including the negotiation and issuance of an approximately $3.5 billion senior secured exit term loan credit facility for iHeartCommunications, Inc. that was distributed to creditors under the plan.
  • MF Global resolves dispute with holdout E&O insurersIn a collaboration among its Business Restructuring & Reorganization, Insurance Recovery and Issues & Appeals practices, Jones Day represented MF Global Holdings Ltd. and its affiliates ("MF Global") in litigation against certain dissenting insurance companies that refused to contribute to a 2016 global settlement of multi-district litigation brought by MF Global’s former commodities futures customers.
  • Former managers and executive officers of Quiznos restaurant brand obtain dismissal of federal and state securities fraud actionsJones Day defended former owners, members of the Board of Managers, and executive officers of the Quiznos restaurant brand against claims brought by subsequent purchasers and operators of the company who alleged that defendants’ misstatements induced the plaintiffs to enter into a 2012 restructuring transaction.
  • Caesars second lien noteholders confirm support for economic terms of consensual chapter 11 planJones Day represents the Official Committee of Second Priority Noteholders ("Second Priority Noteholders") of Caesars Entertainment Operating Company ("CEOC"), the casino operator who filed for bankruptcy in January 2015.
  • MF Global Litigation Trust pursues claims against Jon Corzine and other former officersAs part of MF Global Holdings' confirmed plan of reorganization, Jones Day is representing the Litigation Trustee as plaintiff pursuing claims on behalf of creditors brought against Jon Corzine and other former officers for damages resulting from MF Global's demise.
  • MF Global obtains fast track confirmation of chapter 11 plan of liquidationJones Day represented an ad hoc group of financial institutions holding more than $1.6 billion in claims in the chapter 11 bankruptcy cases of MF Global Holdings Ltd. and its related debtors.
  • MF Global wins Court approval to acquire assets of SIPA estateJones Day represents MF Global Holdings Ltd. ("Holdings") as Plan Administrator in the implementation of its Plan of Liquidation.
  • City of Detroit's chapter 9 plan of adjustment confirmedJones Day served as lead restructuring counsel to the City of Detroit in connection with its chapter 9 bankruptcy case filed in July 2013 and its ongoing restructuring efforts.
  • Wilmington Savings Fund Society brings action against Caesars Entertainment Operating Company and related partiesJones Day was retained by Wilmington Savings Fund Society, FSB ("WSFS"), the indenture trustee for the second-priority senior secured notes issued by Caesars Entertainment Operating Company, Inc. ("CEOC"), a subsidiary of Caesars Entertainment Corporation ("CZR").
  • Consumer Capital successfully preserves rights in Quiznos bankruptcyJones Day represents Consumer Capital Partners and certain related individuals ("Specified Litigation Parties") in their defense against threatened claims by Avenue Capital Management related to a 2012 transaction involving Quizno's restructuring.
  • Fontainebleau Las Vegas term lenders receive substantial cash distribution under bankruptcy settlementJones Day represented funds managed by Brigade, Canyon, Caspian, ING, Morgan Stanley, Solus, Silver Point, MJX, Monarch, and Venor in obtaining a settlement of their claims to the cash proceeds of an asset sale in the bankruptcy case of Fontainebleau Las Vegas, a failed casino and hotel project.
  • Computershare Trust Company achieves win-win litigation settlement on behalf of Travelport senior noteholdersJones Day, on behalf of Computershare Trust Company, N.A. in its capacity as indenture trustee for various series of senior unsecured notes issued by Travelport LLC, successfully resolved litigation arising out of a 2011 transaction, including claims for fraudulent transfer brought by Computershare on behalf of all senior noteholders in connection with such transaction.
  • Travelport senior noteholders negotiate comprehensive capital restructuring planJones Day represented an ad hoc group consisting of significant holders of Senior Unsecured Notes issued by Travelport LLC in connection with a comprehensive out-of-court restructuring for Travelport that was consummated on April 15, 2013.
  • Senior lender group of Tribune Company achieves reorganization successJones Day represented holders of more than $3 billion of Senior Loans against Tribune Company and its affiliates in one of the largest and most high profile reorganizations of the last several years.
  • Franklin Advisers in unique position as City of Stockton bondholderJones Day represents Franklin California High Yield Municipal Fund and Franklin High Yield Tax-Free Income Funds as creditors in the chapter 9 case of the City of Stockton, California.
  • Onex is represented as equity sponsor and creditor in chapter 11 case for Hawker BeechcraftJones Day represented Onex Corporation, as equity sponsor and creditor, in the chapter 11 case for Hawker Beechcraft Corporation which was a world-leading manufacturer of business, special-mission and trainer aircraft.
  • Speaking Engagements

    • October 4, 2013
      Success and Failure in Professional Sports, Lewis & Clark Law School 18th Annual Business Law Fall Forum
    • September 6, 2012
      Bloomberg Sports Business Summit--Bidding for the Dodgers and the Road Ahead
    • June 28, 2012
      How to Sell a Baseball Team
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