Sidney P.Levinson (Sid)

Partner

(T) + 1.212.326.3461

Sid Levinson represents bondholders, secured lenders, debtors, trustees, and creditors committees in large and difficult restructuring and bankruptcy proceedings. His representations include major league sports teams, the retail and gaming industries, airlines, and real estate developers, among others. His recent engagements include noteholders of Bon-Ton Department Stores, Hot Topic, and numerous other retailers; 1.5 Lien Noteholders of Hexion; term lenders of NYDJ Apparel and Fontainebleau Las Vegas; and second lien noteholders of Caesars Entertainment Operating Company, where Jones Day negotiated a settlement that resulted in more than $3 billion of additional value for the noteholders. He also has represented companies in chapter 11 and out-of-court restructurings.

Before joining Jones Day in May 2012, Sid represented the Los Angeles Dodgers in their chapter 11 case, the chapter 11 trustee for Hawaiian Airlines, bondholders of NorthPoint Communications and Premier Entertainment Biloxi in the bankruptcy proceedings of those companies, and the largest secured lender in the Pacific Monarch Resorts bankruptcy. In addition he has served as lead trial counsel in a number of high-profile cases, including representing Hawaiian Airlines in obtaining an $80 million judgment (plus attorneys fees of $3.9 million) against Mesa Air Group arising from Mesa's breach of a confidentiality agreement. In 2010, Sid represented a group of noteholders in winning a $9.5 million judgment (plus an award of $1.5 million in interest) against a solvent debtor for violation of a no-call provision.

Sid has written and spoken extensively on restructuring issues and has served as a subcommittee co-chair for the ABA's Business Bankruptcy Committee. He served on the board of directors of the Los Angeles Bankruptcy Forum from 2007 to 2011 and is a former editor of the California Bankruptcy Journal.

Experience

  • Exide Technologies completes $1.1 billion comprehensive new financing and recapitalizationJones Day represented Exide Technologies, a global leader in stored energy solutions for the automotive and industrial markets, in connection with a comprehensive new financing and recapitalization transaction.
  • Gatemore Partners LP acquires Legacy Agency and TLA Worldwide Americas from TLA WorldwideJones Day represented Gatemore Partners LP in connection with the acquisition of the U.S. business of TLA Worldwide PLC, a sports marketing and athlete representation company, by a company owned and managed by Gatemore Partners LP.
  • Liquidation trustee successfully opposes petition for writ of certiorariJones Day represented the respondent Brian Weiss—a liquidation trustee in the bankruptcy of Walldesign, Inc.—in successfully opposing a petition for a writ of certiorari.
  • 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.
  • 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").
  • 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.
  • Additional Publications

    • April 2017A New Look at Fraudulent Transfer Liability in High Risk Transactions, ABA Section of Business Law Spring Meeting
    • September 28, 2015Title Insurance: Fact or Fiction?, ABA Business Bankruptcy Committee Fall Meeting
    • May 17, 2014Don't Get Burned: Current Developments in Chapter 11 You Need to Know, California Bankruptcy Forum
    • January 17, 2013Chapter 9 of the United States Bankruptcy Code Law, The Seminar Group – 2nd Annual Best of CLE
    • October 26, 2012Individual Lender Standing to Enforce Loan Agreements, Joint Program of the Administration and Courts Subcommittee, Insurance Subcommittee, Trust Indentures Subcommittee and Subcommittee on Mass Tort and Environmental Claims of the Business Bankruptcy Committee of the ABA Section of Business Law
    • May 15, 2009Bad Boy Guaranties: Can a Good Boy Become Personally Liable?, California Bankruptcy Forum
    • April 6, 2009Limiting Equitable Mootness: An Evaluation of the BAP’s Decision in Clear Channel, Los Angeles Bankruptcy Forum
    • June 6, 2008Bankruptcy Court Jurisdiction Over Non-Disclosure Agreements, Bankruptcy Law Section Seminar, Hawaii State Bar Association
    • March 15, 2007Recent Developments Concerning the Use of 'Blocking Procedures' in Chapter 11 Proceedings, ABA 32nd Section of Business Law Spring Meeting
    • February 2, 2006Was Professor Ward Really Serious? IP and Bankruptcy – When Worlds Collide, Financial Lawyers Conference
    • June 25, 2004Can Bankruptcy Lawyers Charge Higher Billing Rates Than Their Non-Bankruptcy Counterparts?, 2004 ABI Hawaii Bankruptcy Workshop Program
    • 2000Does an Administrative Expense Constitute a 'Claim', 25 California Bankruptcy Journal 389

    Speaking Engagements

    • April 7, 2017A New Look at Fraudulent Transfer Liability in High Risk Transactions, panelist, ABA Section of Business Law Spring
    • September 28, 2015From Vegas With Love – The Story of the Fontainebleau Las Vegas, moderator, ABA Business Bankruptcy Committee Fall Meeting
    • May 17, 2014Don’t Get Burned: Current Developments in Chapter 11 You Need to Know, panelist, California Bankruptcy Forum
    • April 5, 2013Hit the Road, Jack: Recent Decisions Involving Transfer of Bankruptcy Venue, moderator, Administration & Courts Subcommittee of the ABA Section of Business Law, Business Bankruptcy Committee
    • January 17, 20132nd Annual Best of CLE – Bankruptcy Law, The Seminar Group
    • October 26, 2012You Can’t Say That! - When Lack of Standing or Equitable Mootness Limits Your Ability to Speak, panelist, Joint Program of the Administration and Courts Subcommittee, Insurance Subcommittee, Trust Indentures Subcommittee and Subcommittee on Mass Tort and Environmental Claims of the Business Bankruptcy Committee of the ABA Section of Business Law
    • January 13, 2011Bankruptcy Law Current Developments, The Seminar Group
    • August 3, 2009DIP Securitization Financings: What Are They and How Do They Work, panelist, ABA Annual Meeting
    • May 15, 2009Understanding California Real Estate Insolvency: Options and Alternatives in the Face of Pervasive Insider Guarantees & Slashed Values, panelist, California Bankruptcy Forum
    • April 6, 2009Clear Channel: Does Appealing Sales Make for Unappealing Assets?, panelist, Los Angeles Bankruptcy Forum
    • June 6, 2008Confidentiality Agreements, panelist, Bankruptcy Law Section Seminar, Hawaii State Bar Association
    • March 15, 2007The U.S. Trustee Program in Chapter 11: Current Policies, panelist, ABA 32nd Section of Business Law Spring Meeting
    • February 2, 2006Was Professor Ward Really Serious? IP and Bankruptcy – When Worlds Collide, panelist, Financial Lawyers Conference
    • December 16, 2004To Ship or Not to Ship? That is the Question. Representing Vendors in Bankruptcy, panelist, Los Angeles Bankruptcy Forum
    • June 25, 2004Who Made These Rules Anyway? Practical, Legal and Strategic Considerations for Retention and Compensation, moderator, 2004 ABI Hawaii Bankruptcy Workshop Program
    • April 29, 2003When Sarbanes-Oxley and Bankruptcy Collide, panelist, Orange County Bankruptcy Forum
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