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Debevoise & Plimpton LLP

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The ‘capable and competent’ team at Debevoise & Plimpton LLP is based in New York, and represents a diverse range of clients including debtors, bondholders, secured lenders and private equity sponsors in restructurings and bankruptcy proceedings, as well as chapter 11 cases and cross-border insolvencies. Jasmine Ball represents a range of parties for various industries including pharmaceutical and airline companies, and was involved in representing Philippine Airlines in connection with its restructuring efforts in response to the impact of the Covid-19 pandemic on the aviation industry. Natasha Labovitz  is the co-chair and represents debtors and creditors in and out of bankruptcy and cross-border insolvencies, while Sidney Levinson and Scott Selinger  are key names from the firm.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘The Debevoise team is a small and nimble group of restructuring practitioners who are deeply experienced and serve as strong advocates for their clients. The are organized, efficient and modest and provide good, predictable outcomes.’

  • ‘Natasha Labovitz (who I believe chairs the practice) is a clever negotiator and well versed Chapter 11 practitioner. She is experienced and comfortable leading complex transactions.’

  • ‘Capable. Competent. Reliable.’

  • ‘Jasmine Ball is one of the best lawyers I’ve ever worked with.’

Key clients

  • Philippine Airlines
  • Certain former directors and shareholders of Purdue Pharma, Inc. and related entities
  • Georgia-Pacific LLC
  • Brigade Capital Management, LP
  • Pantheon Ventures
  • Elara Caring
  • Clayton, Dubilier & Rice
  • McKinsey & Company
  • Coller Capital Partners, International SIF SICAV, Clouse S.A
  • Resolute Investment Holdings
  • Alexander Greensill and additional former directors and officers of Greensill Capital Inc.
  • Drive DeVilbiss Healthcare
  • The Blackstone Group

Work highlights

  • Advised Resolute Investment Holdings and its affiliates in negotiating and executing transaction support agreements with two ad hoc groups of lenders for an out-of-court solution that avoided a likely liquidation in bankruptcy.
  • Represented certain former directors and shareholders of Purdue Pharma, Inc in defending litigation regarding prescription opioids across the country, including a federal multi-district litigation and actions brought by states attorneys general, and in efforts to negotiate a global settlement in bankruptcy court.
  • Advised Brigade Capital Management, LP  in connection with Avaya’s chapter 11 restructuring, which concluded in May 2023 and reduced Avaya’s debt by 75%.

Lawyers

Leading lawyers

Jasmine Ball

Jasmine Ball

Debevoise & Plimpton LLP

Jasmine Ball is a corporate partner and member of the firm’s Restructuring Group. Ms. Ball regularly represents debtors, investors, creditors and other parties in distressed mergers & acquisitions, workouts, debt and equity financing and refinancing, complex restructurings and Chapter 11 bankruptcy proceedings. Ms. Ball is recognized by The Legal 500 US (2014–2023), where she is praised for her “extensive knowledge of the bankruptcy code, combined with in-depth knowledge on how to leverage and negotiate matters with a broad range of often competing stakeholders,” and her “strong management skills and critical thinking.” She is also noted as “calm, focused,” and “thoughtful and smart.” She is listed as a Notable Practitioner for Restructuring and Insolvency by IFLR1000 (2022) Ms. Ball is among the winners of The M&A Advisor’s 2022 Restructuring Community Impact Award and Restructuring Deal of the Year Award (Over $5B), as well as AirFinance Journal’s Asia-Pacific Deal of the Year Award and Airline Economics’ Asia Pacific Restructuring Deal of the Year Award, each for her role as restructuring counsel to Philippine Airlines. She was previously among the winners of The M&A Advisor’s 2021 Chapter 11 Reorganization of the Year (over $1B) for her role as counsel to the Canada Pension Plan Investment Board as co-sponsor of Neiman Marcus in its Chapter 11 restructuring. Ms. Ball was among the winners of Turnaround Management Association’s 2018 International Restructuring of the Year, Global M&A Network’s Turnaround Atlas Awards 2018 Corporate Turnaround of the Year and M&A Advisor’s 2017 Restructuring Deal of the Year ($1B to $5B) for her role as aircraft counsel to CHC Group in its successful Chapter 11 proceedings, as well as Turnaround Management Association’s 2016 Transaction of the Year: Large Company Award for her role in advising Altegrity in its Chapter 11 proceedings and successful restructuring of more than $1.8 billion in funded indebtedness. She was also a recipient of Turnaround Management Association’s 2014 Transaction of the Year: Mega Company Award for her role in advising American Airlines and AMR, as special aircraft counsel, in their highly successful Chapter 11 proceedings. Ms. Ball has been named a 2015 recipient of the Outstanding 50 Asian Americans in Business awards and recognized as an Outstanding Young Restructuring Lawyer (2013) by Turnarounds & Workouts. Ms. Ball is an author of the Collier Business Workout Guide (Matthew Bender, 2022) and a contributing author to the Collier Guide to Chapter 11: Key Topics and Selected Industries (Matthew Bender, 2016). Other publications include: “Recent Court Decisions Add Potential Risks in Workout Transactions,” Journal of Corporate Renewal (2016); “Restructuring Aircraft Leases in Bankruptcy,” Jetrader (2014); “Rules of the Road: Buying Distressed Assets,” Bankruptcy Law360 and Corporate Finance Law360 (2010); “In the Zone,” The Deal (2009); “Duties of Directors of Distressed Companies: Avoiding an Intrinsic Fairness Review,” Debevoise & Plimpton Private Equity Report (2009); “The Duties of Private Equity Directors of Distressed Companies,” Directors & Boards Boardroom Briefing (2009); “Caution Ahead: Rules of the Road for Buying Assets from Distressed Companies,” Debevoise & Plimpton Private Equity Report (2009); “Alert: Duties of Directors of Distressed Companies: An Update and Refresher,” Debevoise & Plimpton Private Equity Report (2008); “Section 363 Sales: How to Play the Game,” Debevoise & Plimpton Private Equity Report (2007); “Distressed Deals: Section 363 M&A: How to Play the Game,” The Deal (2007); and “The Globopar Financial Restructuring: A New Model for International Workouts,” International Corporate Rescue (2006). Ms. Ball has presented at the International Air Transport Association, Airline Economics’ Aviation and Finance Leasing School, the American Bankruptcy Institute, the American Bar Association, the Practising Law Institute, the American College of Investment Counsel, the Association of the Bar of the City of New York and the International Women’s Insolvency & Restructuring Confederation, among others. Ms. Ball is a member of the Bar of the State of New York and is admitted to practice before the U.S. District Court for the Southern District of New York and the U.S. District Court for the Eastern District of New York. Ms. Ball is Board Advisor of the International Women’s Insolvency & Restructuring Confederation (IWIRC) New York Chapter and serves on the Board of Directors of the Asian American Bar Association of New York (AABANY). She is also a member of the American Bankruptcy Institute, the Turnaround Management Association, the TMA New York Academic Relations Committee, the International Bar Association, the American Bar Association, the New York State Bar Association, the Association of the Bar of the City of New York and the Advisory Board of Practical Law Bankruptcy. She is also a member of the firm’s Diversity & Inclusion Advisory Council and is active in various Asian legal associations, including Asian American Legal Defense and Education Fund and Asian American Bar Association activities. Ms. Ball received her B.S. from Princeton University and her J.D. from the University of Michigan, where she was an executive editor of the Journal of International Law.

Practice head

The lawyer(s) leading their teams.

Natasha Labovitz, Sidney Levinson

Other key lawyers

Jasmine Ball, Scott Selinger