Michael Firestein > Proskauer Rose LLP > Los Angeles, United States > Lawyer Profile

Michael handles a wide range of commercial litigation on behalf of private equity funds, financial institutions, securities brokerages, investment advisors, fiduciaries, real estate operating companies and entertainment corporations.

During the past decade, Michael has emerged as a preeminent litigator and trial lawyer in some of the largest bankruptcy proceedings in the country. Specifically, he has a lead role in the Puerto Rico bankruptcy litigation on behalf of the Financial Oversight and Management Board for Puerto Rico. In recent years, he was a principal trial lawyer in the confirmation hearings for plans of adjustment for (i) the Puerto Rico Highways and Transportation  Authority, which sought to restructure nearly $ 6 billion of bond debt and other obligations of the Authority (2022), (ii) the Commonwealth of Puerto Rico, the Puerto Rico Public Buildings Authority, and the Puerto Rico Employee Retirement System, which restructured tens of billions of dollars of bond debt and unfunded pension obligations (2021), and (iii) the Puerto Rico Sales Tax Financing Corporation (COFINA), which sought to restructure $18 billion of bond debt (2019).  Each of these confirmation proceedings saved the Commonwealth and its instrumentalities hundreds of millions of dollars of bond and other debt payments annually. Michael was also lead trial counsel in successful bankruptcy plan confirmations in two contested trials on behalf of Energy Future Holdings, where he addressed numerous intercompany/inter-debtor claims and other matters concerning this complex restructuring. Michael’s overall work in this space has led to his recognition as California’s Bankruptcy Litigator of the Year in Benchmark Litigation from 2020-2022.