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O'Melveny & Myers LLP plays a role in municipal restructurings involving a wide variety of industries, including transportation, telecommunications, energy, gaming, real estate and entertainment. John Rapisardi in New York chairs the global restructuring practice and has been focused on the ongoing representation of the Puerto Rico’s government with respects to the financial restructuring of its debt obligations. Dallas and New York Lou Strubeck Jr. handles matters for institutional noteholders and bondholders, while Maria DiConza is advising the City of Long Beach in the face of a $140m judgement against the the City. Washington DC-based Peter Friedman is a key name from the firm.
Legal 500 Editorial commentary
Key clients
- Puerto Rico Fiscal Agency and Financial Advisory Authority
- Puerto Rico Electric Power Authority
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Work highlights
- Assisted the Government of Puerto Rico in developing and implementing strategies to position Puerto Rico Electric Power Authority to restructure its legacy liabilities and transform the aging electrical system into a modern utility after years of historical financial and operating difficulties and the devastating impacts of natural disasters.
- Serving as restructuring and litigation counsel for the Puerto Rico Fiscal Agency and Financial Advisory Authority in (1) post-closing matters related to the now-confirmed Title III restructuring proceeding for the Commonwealth of Puerto Rico—the most closely watched and largest restructuring in recent years;(2) litigation matters related to the confirmed Title III, and (3) litigation of other matters arising under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).
Abbreviated data is displayed for this firm.