David Fischer is a Chicago attorney who focuses his practice on bankruptcy, restructuring and insolvency. Mr. Fischer has more than 35 years of experience focused on the interplay of corporate finance and bankruptcy law.
Mr. Fischer is well-versed in handling financings, workouts, restructuring, foreclosures and Chapter 11 from virtually every constituent's perspective. His practice spans many industry sectors, with a particular focus on finance, real estate and, more recently, private equity. In addition, Mr. Fischer has particular experience in the private equity space buying and selling portfolio companies from both distress and non-distress situations.
Mr. Fischer's representative engagements include:
- represented U.S. Gas & Electric Inc. in its acquisition by Crius Energy Trust for total consideration of $152.5 million plus $20 million in working capital, for a total purchase price of approximately $172.5 million
- served as legal counsel to Coral Reef Capital, a New York-based private investment firm, in its investment in Krewe Energy LLC, an oil and gas exploration and production company based in Covington, La.
- served as legal counsel to Coral Beef Capital in its acquisition of ROC
- represented Berner Food & Beverage Inc., in its sale to an Austin, Texas-based private equity firm, Peak Rock Capital, for an undisclosed value
- represented several banks, hedge funds and private equity firms in the purchase and sale of notes, mortgages and other forms of indebtedness
- represented noninstitutional buyers of notes for investment purposes as well as "loan to own"
- represented The Northern Trust Co. in connection with its special assets (distressed) portfolio and has from time to time been secunded to the Northern Trust law department to oversee that function
- served as special bankruptcy and litigation counsel for Inland Bank and Trust Co.
- served as lead counsel for Merchants and Manufacturers Bank in its workouts and large loan documentation situations
- served as national bankruptcy counsel for Broadspire Services Inc., a Crawford Co.
- leads a team in the representation of a large upscale shopping center comprising in excess of 500,000 leasable space, in connection with its day-to-day operations and creditor and real estate issues
- represented First Community Bank in a key successor liability case in the U.S. Court of Appeals for the Seventh Circuit Court brought by the Illinois Department of Revenue (IDOR v. Hanmi and IDOR v. First Community Bank, No. 15-053594)
- represented a private equity firm in the restructure of more than $35 million of debt to an equity position
- represented the seller of a privately held middle market corporation to a strategic buyer for a total consideration of $90 million
- represented a disabled adult facility debtor in confirming a plan of reorganization which enabled it to operate free from an oppressive union contract
- represented a private equity firm portfolio company as a debtor in the restructure of $20 million of secured senior acquisition debt
- represented Continental Casualty Co. as surety and credit enhancers on the foreclosure and restructuring of public housing bonds in connection with a 30 project multistate portfolio consisting of assets in excess of $1 billion; involved multistate foreclosure and bankruptcy matters
- represented a debtor in the defense of a foreclosure at 1000 S. Michigan in Chicago; forestalled the foreclosure for two years allowing the debtor to finalize property entitlements enabling the debtor to sell the property for a $30 million profit
- represented a tranche B debt holder in litigation against a global financial institution for breach of fiduciary arising from its handling of real estate loans as agent for both tranche A and B debt
- represented numerous assignees, purchasers, sellers and assignees for benefit of creditors in out-of-court sales transactions
- represented MVC Capital as lender or sponsor from a finance and intercreditor perspective in nearly a dozen transactions throughout the U.S. ranging in size from $25 million to 75 million
- represented various buyers of assets in bidding at state court foreclosure, bankruptcy 363 sales and Uniform Commercial Code (UCC) sales; over the past five years, represented many bidders in 363 sales and state court foreclosure sales, several of which have culminated in successful asset purchases
- represented the largest shareholder in the sale by an assignee for the benefit of creditors of assets in which there was a 100 percent overbid and a return to unsecured creditors of a 60 percent dividend
Prior to joining Holland & Knight, Mr. Fischer was co-chair of the bankruptcy practice for a global law firm in its Chicago office.