BenRosenblum

Partner

(T) + 1.212.326.8312

Ben Rosenblum focuses his practice on representing debtors, creditors, and other parties in interest in out-of-court restructurings and court supervised proceedings, including chapter 11 cases, municipal bankruptcy proceedings, international insolvency cases, and stockbroker liquidations. He works with clients on matters in many industries, including manufacturing, shipping, mining, aviation, energy, real estate, and telecommunications.

Ben's debtor representations include Peabody Energy, City of Detroit, Chrysler LLC, Spansion Japan, and Dana Corporation. He has represented significant creditors of General Maritime Corporation, Calpine Corporation, American Home Mortgage, and Murray Energy and currently represents creditors in connection with the Commonwealth of Puerto Rico's restructuring. Ben also has extensive experience representing major financial institutions with respect to the application of bankruptcy law to derivatives.

Ben maintains an active pro bono practice and has sat as a Steering Committee member for the New York City Bankruptcy Assistance Project. In years past he has also taught as an adjunct professor at the Rutgers Business School. Prior to joining Jones Day, Ben served as a judicial law clerk to Judge Peter J. Walsh in the United States Bankruptcy Court for the District of Delaware.

Experience

Cineworld Group completes asset monetization strategies in United States through cinema sale-leaseback transactions
Jones Day advised UK headquartered, Cineworld Group PLC in connection with an asset monetization strategy in the United States involving a combined cash consideration of $556.3 million cinema sale-leaseback transactions to convert a substantial portion of Cineworld’s U.S. real estate holdings into cash to leverage its equity and optimize efficiency.

Peabody Energy exits chapter 11 in less than a year
Facing unprecedented industry conditions in late 2015 and early 2016, Peabody Energy Corporation, the world's largest private-sector coal company, and 153 of its direct and indirect subsidiaries filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Missouri on April 13, 2016.

Sprint completes private placement of wireless spectrum-backed notes
Jones Day represented Sprint Corporation, a communications services company, in connection with the issuance by three special purpose, bankruptcy-remote, wholly owned subsidiaries of Sprint (the Issuers) of $3.5 billion of Series 2016-1 3.36% Senior Secured Notes, Class A-1 (the Notes) in a private transaction exempt from the registration requirements of the Securities Act of 1933.

Garmin wins Second Circuit affirmation of dismissal of $1.9 billion in breach of contract and fraud claims
Jones Day client Garmin International, Inc. ("Garmin") obtained the dismissal of a multi-billion-dollar claim, as well as the plaintiffs’ payment of a confidential sum to Garmin, in settlement of a case brought by plaintiffs LightSquared, Inc., LightSquared LP; and LightSquared Subsidiary LLC (collectively, "LightSquared").

Targa Resources Partners forms two joint ventures with subsidiary of Sanchez Energy Corporation
Jones Day advised Targa Resources Partners LP ("TRP") on the formation of two joint ventures with a subsidiary of Sanchez Energy Corporation ("SN") to construct a new 200 MMcf/d cryogenic natural gas processing plant in La Salle County, Texas and approximately 45 miles of associated high pressure gathering pipelines that will connect SN's Catarina Ranch acreage in the Eagle Ford shale play to the processing plant, costing approximately $240 million.

City of Detroit's chapter 9 plan of adjustment confirmed
Jones 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.

Lehman Brothers resolves action involving foreign exchange transactions
Jones Day represented Lehman Brothers Holdings Inc. and Lehman Brothers Commercial Corporation in connection with the settlement of all claims relating to foreign exchange transactions between Lehman Brothers, on the one hand, and Aberdeen Asset Managers Ltd and over sixty Aberdeen affiliated and non-affiliated managed funds (collectively “Aberdeen”), on the other.

Royal Bank of Scotland obtains dismissal of certain claims pending in Thornburg bankruptcy case
Jones Day obtained dismissal of 22 out of 31 claims for The Royal Bank of Scotland Plc that were filed by the Chapter 11 Trustee in the chapter 11 case of Thornburg Mortgage, Inc.

Lehman Brothers bankruptcy estate obtains advice in connection with potential litigation concerning derivative transactions
Jones Day represents Lehman Brothers Holdings Inc. and its affiliated debtors and debtors-in-possession in the chapter 11 bankruptcy proceedings before the United States Bankruptcy Court.

Bowater files for bankruptcy protection to continue operations
Jones Day represented Bowater Inc. as conflicts counsel in its chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware.

General Maritime files for bankruptcy protection from creditors
Jones Day has been selected to represent the official committee of unsecured creditors in the General Maritime chapter 11 cases.

Spansion Japan settles claims against former parent
Jones Day represented Spansion Japan Limited ("Spansion Japan") in the bankruptcy case of its former parent, Spansion LLC, allowing Spansion Japan to successfully reorganize in Japan.

Spansion Japan represented as cross-border debtor and also as largest creditor in chapter 11 case of parent
Jones Day represented Spansion Japan Limited in its chapter 15 case in the United States Bankruptcy Court for the District of Delaware.

Lehman Brothers Holdings seeks recovery of undisclosed asset value transferred in bankruptcy sale of broker dealer
Jones Day represents Lehman Brothers Holdings Inc. in an action to recover assets transferred to Barclays Capital Inc. when Barclays purchased the Lehman broker dealer business shortly after Lehman's bankruptcy filing in September 2008.

Georgia Gulf completes successful debt-for-equity exchange
Jones Day represented Georgia Gulf Corporation in its successful exchange of 92% of the aggregate outstanding principal amount of $736 million owing in respect of three series Senior Notes.

Colorado Capital Bank settles claims by bankruptcy 1031 Tax Group and obtains third-party release of claims
Jones Day represented Colorado Capital Bank in connection with claims asserted against it by bankrupt 1031 Tax Group, and successfully obtained a resolution of all claims as well as a release of all third-party claims against Colorado Capital Bank.

Interep National Radio Sales files for bankruptcy
Jones Day represented Interep National Radio Sales, Inc. and its direct and indirect wholly-owned subsidiaries in their ongoing chapter 11 cases commenced as a means to implement the terms of a pre-negotiated plan of reorganization for the company that will provide for a comprehensive restructuring of the company's balance sheet, principally by effecting an equity conversion of the company's $100 million in Senior Subordinated Notes.

WL Ross acquires loan servicing unit of American Home Mortgage
Jones Day provided advice to WL Ross & Co. LLC, the stalking horse bidder, in its $435 million acquisition of the loan servicing unit of bankrupt American Home Mortgage Investment Corp.

Major Japanese company bids (subsequently terminated) for a U.S. power company out of a Chapter 11 proceeding
Jones Day advised a major Japanese company in its bid (subsequently terminated) for a U.S. company in the power turbine business out of a Chapter 11 proceeding.

Evercore Capital acquires various Davis Petroleum entities in bankruptcy buyout
Jones Day advised Evercore Capital Partners II, L.P. in its $150 million acquisition, along with Red Mountain Capital Partners and Sankaty Advisors, of Davis Petroleum Corp., Davis Offshore, L.P. and Davis Petroleum Pipeline LLC in a bankruptcy buyout.

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