North America - United States • Finance
Orrick, Herrington & Sutcliffe LLP
Orrick, Herrington & Sutcliffe LLP is focused on sovereign debt restructuring matters, standing out in particular for the firm’s central role in the $65bn Republic of Argentina debt restructuring, and also advises and assists an array of municipalities on restructuring debt and long-term liabilities. The practice continues to advise large financial institutions such as the Bank of Nova Scotia as well as advising several US cities on their out-of-court restructuring efforts. Situated in San Francisco, Marc Levinson has represented various California municipalities in their Chapter 9 cases, including the City of Vallejo and City of Stockton, while New York based Lorraine McGowen is experienced in representing bondholder committees. Thomas Laryea, based in Washington DC, is a standout name for his expertise in sovereign debt restructuring.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘The Orrick team (namely Thomas Laryea, Sushila Nayak and Lorraine McGowen) was an outstanding resource for us and our fellow committee members during the years long restructuring negotiations. Their industry expertise was invaluable to achieving a good result.’
‘Thomas Laryea stands out in particular as someone who has not just a keen sense of legal issues, but is an expert in the field and is adept at discussing business issues, utilizing his vast network of contacts and generally doing whatever he can to advocate for his clients.’
Key clients
- Suriname Bondholder Committee
- Belize Bondholder Committee
- PG&E Equity Holders
- City of Beaumont, California
Work highlights
- Representing the bondholder committee, which includes Franklin Templeton, Eaton Vance, GMO, Greylock Capital, and T. Rowe Price, on the restructuring of US$850million of Suriname government bonds.
- Advised the bondholder creditor committee, including Aberdeen Standard, Grantham Mayo van Otterloo, and Greylock Capital, on the Belize government’s buyback of its $553-million bonds due 2034.
- Advising bondholders on a sovereign debt restructuring for Venezuela, which has amassed about $150 billion in public debt, much of which is in default.
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Practice head
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Raniero D’Aversa